5 Mistakes to Avoid When Selling Your Small Business

1
5 Mistakes to Avoid When Selling Your Small
Business

• As an entrepreneur, I have built and sold six
  businesses including a car rental company, two
  mini-storage facilities, and three retail stores.
  Now, as an international professional speaker and
  business consultant, I help other small business
  owners achieve this same success.

2
Mistake 1 Not Planning Ahead or Waiting Too Long
to Sell

• You've decided to sell your business. Why? That's
  one of the first questions a potential buyer will
  ask.

3
Mistake 2 Not Finding the Right Person to
Represent Your Business
4
Mistake 3 Thinking You Dont Have to Promote or
Market Yourself

• Next, you'll want to determine the worth of your
  business to make sure you don't price it too high
  or too low. Locate a business appraiser to get a
  valuation. The appraiser will draw up a detailed
  explanation of the business's worth. The document
  will bring credibility to the asking price and
  can serve as a gauge for your listing price.

5
Mistake 4 Asking Too Much or Too Little for the
Business

• Selling the business yourself allows you to save
  money and avoid paying a broker's commission.
  It's also the best route when the sale is to a
  trusted family member or current employee.

6
Mistake 5 Selling to the Wrong Person
Taking the first offer may not be a wise choice.
This may not necessarily be your BEST offer.
Selling your business for top dollar with little
or no money down along with an extended contract
may lead you to lose it all.
http//sellyourbusiness.co.za