Exit Planning Strategies
Selling a Variable Speed Drives Business
Although a variable speed drives business may not be completely recession-proof, the best companies can survive nearly any storm. To increase your company's sale price, you'll need to perform adequate preparations, positioning it to the catch the eye of profit-minded buyers.
We hear it all the time: "I'm waiting until the economy recovers to list my business."
If your exit strategy involves selling a variable speed drives business these days, sellers need to make a strong case for buyers to purchase at or near the asking price.
Team-Based Negotiation Strategies
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your variable speed drives business, your business brokers may or may not be willing to conduct negotiations for you. But although you will responsible for negotiating terms with buyers, you should never approach negotiations without support. 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.
Broker vs. No Broker
When selling a variable speed drives business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your variable speed drives business much less painful. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your variable speed drives business on BizBuySell.com and other popular online business-for-sale listing sites.
Preparing Family Members
Many sellers embarked on their variable speed drives business sale without adequately considering the impact it will have on their families. Whether you realize it or not, your variable speed drives business has been an important part of your family life. The sale of the business will likely result in new family dynamics. Subsequently, selling a variable speed drives business should allow opportunities for all family members to share their feelings and offer input about the sale process.
Share this article
Additional Resources for Entrepreneurs