Niche Exit Planning Tactics
Selling a Wrongful Death Attorneys Business
Unfortunately, many sellers are waiting to list their wrongful death attorneys businesses until the economy fully rebounds. We think that's a mistake because for the right buyers, wrongful death attorneys businesses are a great investment.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
If your exit strategy involves selling a wrongful death attorneys business now, business sellers may need to apply a combination of incentives and techniques.
Maintaining Objectivity
Emotions run high during the sale of a wrongful death attorneys business. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful wrongful death attorneys business sale. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
Signs You're in Over Your Head
Many wrongful death attorneys business are tempted to save brokerage fees by selling their businesses on their own. But for every successful unassisted sale, several other wrongful death attorneys businesses sell below market value or languish on the market for years without attracting the interest of qualified buyers. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. When buyers fail to exhibit substantive interest, it could indicate unrealistic pricing or an inferior selling strategy. The remedy is professional brokerage or a consultation with more experienced sellers.
Why Confidentiality Matters
Highly publicized wrongful death attorneys business sales are risky wrongful death attorneys businesssales. If you are rigorous about maintaining a confidential sale, there is little risk in putting your wrongful death attorneys business on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
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