Selling a Business Advice
Selling an Information Technology Services Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet information technology services businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
The economy isn't the only thing that is uncertain these days. So are information technology services business buyers, many of whom are waiting to pull the trigger on their next acquisition.
Yet everyday, hundreds of listed information technology services businesses manage to pique the interest of qualified buyers. They do it by paying attention to the details that other business sellers overlook.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. Consider informing your key employees first, followed by the rest of your workforce later in the process. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Advertising Your Sale
Successful information technology services business sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. Business brokers are skilled at publicizing information technology services business sales while maintaining the confidentiality that is critical to your business.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
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