Exit Planning Advice By Market
Selling an Accounting and Finance Software Company
Market shifts affect business values and the accounting and finance software company industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling an accounting and finance software company during challenging economic times.
Dire economic forecasts have forced many accounting and finance software company sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Most accounting and finance software companies are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
The Emotions of a Business Sale
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your accounting and finance software company now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. However, when it comes to negotiating a successful deal, there is no room for your personal emotions. To keep the sale on track, you'll need to seek the advice of a broker or another objective third-party counselor.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. Information is the key to a great accounting and finance software company negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your accounting and finance software company? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Are You the Right Person to Sell Your Business?
As the owner, you are both the best and worst person to sell your accounting and finance software company. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your accounting and finance software company in the business-for-sale marketplace. The problem is that your passion for your business can also sabotage your sale. Business owners are subjective and biased about their company's true worth. At a minimum, conduct an independent appraisal of the accounting and finance software company to gain an objective sense of fair market value.
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