Optimizing Business Exits
Selling a Research Consultants Business
You've learned a lot during your tenure as a research consultants business owner. Before you walk away, you have one more challenge to overcome: A successful and profitable business sale.
Business sellers sometimes face a long, hard struggle to get fair market value for their companies. But with the adequate preparation, your research consultants business can attract buyers who recognize its potential.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a research consultants business.
Tips for Working with A Business Broker
Many sellers employ business brokers to manage the details and direction of their sale. Brokerage is particularly common in the research consultants business-for-sale market, where aggressive selling strategies are the norm. But a good broker doesn't relieve your responsibility for contributing to the sale process. Like it or not, you are going to be an integral player in the sale of your research consultants business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
When Is the Right Time to Sell?
When is it the right time to sell your research consultants business? If you're asking the question, now may be the time to put your business on the market. There are a lot of naysayers out there advising research consultants business sellers (or would-be sellers) to take a wait and see approach. We aren't nearly as pessimistic about the research consultants business marketplace. With so many sellers holding back, there isn't a lot of inventory out there and you may be able to get a great price for your practice depending on how well you prepare the business and your ability to execute your sale strategy.
Negotiation Teams
It's not unusual for research consultants business sellers to feel overwhelmed when they negotiate the sale of their business. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Share this article
Additional Resources for Entrepreneurs