Sell a Business for the Best Price
Selling a Public Speaking School
You've heard the naysayers - now isn't the time to sell a public speaking school. But what they don't know is that many entrepreneurs see public speaking schools as a smart business investment.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a public speaking school.
Many business owners don't know that public speaking schools are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
The Best Person to Sell Your Public Speaking School
An unassisted business sale is a double-edged sword. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. The problem is that your passion for your business can also sabotage your sale. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the public speaking school to gain an objective sense of fair market value.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. The questions public speaking school ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. When concerns arise, it's helpful to base your responses on facts and data. If you don't know the answer to a question, there's no shame in admitting ignorance and telling the buyer you'll look into it. If due diligence drags on too long, your broker may need to intervene.
Emotional Considerations
It's impossible to predict the emotional highs and lows you will experience during the sale of your public speaking school. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Although it isn't easy, you can mitigate the emotional impact of a public speaking school sale by setting realistic expectations before you list your business.
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