Selling a Business Advice
Selling an Invention Marketing Services Business
A good business is about more than dollars and sense. To make your invention marketing services 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.
Selling an invention marketing services business isn't as simple as listing a power tool on eBay. These days, the business-for-sale market is a hostile place for inexperienced and uninformed sellers.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a invention marketing services business.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. The questions invention marketing services business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Selecting a Broker
Good business brokers inevitably produce better business sales. In the invention marketing services business industry, experience is a must-have characteristic for qualified brokerage. The chemistry you have with your broker is a consideration. If you don't connect with a specific broker, move on to someone else - even if the first broker looks great on paper.
Timing the Market
Timing is everything when it comes to selling an invention marketing services business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on invention marketing services businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Share this article
Additional Resources for Entrepreneurs