Selling a Business Advice
Selling an Internet Access Software and Services Business
No one said selling your business in a depressed economy would be easy. Fortunately, a internet access software and services business sale isn't as scary as it seems.
Intimidated by a sluggish economy, business buyers are more cautious than ever.
More than a few internet access software and services business owners fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. Information is the key to a great internet access software and services business negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your internet access software and services business? 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.
Leveraging Industry Connections
Today's internet access software and services business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. The downside of industry networks is that it leaves your company vulnerable to exploitation by competitors. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Average Preparation Time
It's critical to properly plan for the sale ofan internet access software and services business. For starters, the financials need to demonstrate a track record of profitability and growth. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. At a minimum, plan on spending six months preparing your internet access software and services business for the marketplace. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
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