Exit Planning Strategies
Selling a Voice and Diction Improvement Business
A good business is about more than dollars and sense. To make your voice and diction improvement business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
With planning and patience, most voice and diction improvement businesses can be sold for a fair price in the current business-for-sale marketplace.
At Gaebler, we're seeing voice and diction improvement business sellers succeed by applying sound sales principles combined with a refusal to be intimidated by a down economy.
Laying the Groundwork
A successful voice and diction improvement business sale begins with careful planning. Although you are convinced your business has value in the marketplace, the planning process establishes a framework for communicating its value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a voice and diction improvement business to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium voice and diction improvement business opportunity.
After the Sale
As your voice and diction improvement businesssale nears completion, there is a lot of work remaining to be done. There are several details that still need to be addressed. What will the ownership transition look like? Are you prepared to deal with the tax consequences of receiving a significant sum of money in exchange for your business? How will you prepare your employees for your inevitable exit from the business? If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a voice and diction improvement business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. A negotiating strategy is essential because it not only establishes parameters, but also creates a plan for overcoming buyer objections and impasses.
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