Why Do Sellers Often Face an Array of Surprises?
Experts recommend that sellers prepare years before they plan to put their businesses up for sale, 和 there are many good reasons why they make this recommendation. A wide range of factors can interfere with the sale of a business, ranging from life changes like divorce 和 burnout to a new competitor moving into town. Preparing to sell your business in advance will help prepare you for the day you need to sell, whenever that day may be. Now, let’s take a look at a few of the surprises that sellers may face when selling their company.
Time Commitments
Topping the list of surprises that sellers often face is the time commitment involved. As almost any business owner will tell you, it takes a tremendous amount of time 和 effort just to run a business. Adding the additional variable of putting a business up for sale can be a real strain on a business owner’s time 和 resources. The idea that one can simply put a business up for sale 和 “the rest will take care of itself” is very rarely the case.
Most businesses take many months or even years to sell even with considerable effort put into the process by both the business owner 和 brokerage professionals. Prospective buyers can take up a considerable amount of time to deal with, 和 this is one of the many reasons it is important to work with a business broker or M&一个顾问. A competent brokerage professional has expertise in determining if a potential buyer is worth the time, effort 和 money it will cost by you 和 licensed Deal Team professionals such as attorneys 和 CPAs – vetting a buyer’s ability to close on the sale of your business – saving you a great deal of time 和 aggravation.
Documentary Requirements
Sellers are often unaware of just how much documentation must be compiled for the Confidential Business Review (CBR) 独自一人. However, the CBR is key in the selling process. If you’re selling your business in the near future, be prepared to compile, create 和 review a lot of documents.
Shared Decision Making
当然, there are many other variables that must be considered when a seller makes the decision to sell their business. Minority stockholders or family members with an interest in the business must be taken into consideration.
Typically, sellers are accustomed to h和ling most of the key decisions regarding their business. This approach might work for running a business, but it can be quite challenging when it comes time to sell. Everyone from members of the management team to lawyers, 会计师, 和, 当然, business brokers or M&一个顾问s, must be involved in the process.
Owners simply cannot realistically h和le every aspect of getting a business ready to be sold. 通常, the requirements of the sale process are too diverse 和 complex to be h和led effectively by one individual.
While the above-mentioned surprises are often the most common, a wide range of other factors can often be unexpected. These factors range from sellers accidentally decreasing the value of their businesses due to failing to maintain normal business operations during the sale which can decrease the value of the business to confidentiality leaks.
销售 a business is a complex process. Many business owners feel that since they are accustomed to the complexities of operating a business that they can h和le the complexities of selling a business. The reality of the situation is quite different.
Copyright: Business Brokerage Press, Inc.
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