How Do I Sell My Business?
Selling your business is a major event…
…no matter how big the business and no matter how long you’ve owned it. The potential benefits to you and your business are significant, but the risks associated with getting it wrong can be devastating. If you are going to do it, you want to do it right.
At Entrepreneurs Hub, we talk about five key areas that make the difference between success and failure when selling your business.
Establish a choice of credible acquirers – give yourself options
The principle is straightforward – if you have multiple, even just two, credible acquirers at the table the onus is placed on them to make good offers and negotiate fairly, because they know there is someone else at the table who might take the opportunity if they don’t.
Don’t advertise a valuation – sell the future and highlight synergies
This is really two of our five key areas rolled into one because they are closely related. The value of a business is a difficult thing to establish – no one can say with absolute certainty what a business valuation should be unless they are the ones putting their hands in their pockets to buy it.
Intelligent and informed preparation is essential
If there is one area that lets down many business sale processes, it’s preparation. Not that people or advisors don’t understand the need for preparation, but they often misunderstand the breadth and depth of preparation required.
Let someone do the deal for you
You would, perhaps, expect us to say this, after all it’s our job. But even if you don’t decide to work with us, we would still recommend it as a course of action. The reason is twofold: Firstly, working with an experienced team which includes role-specific experts will dramatically increase your odds of achieving a successful outcome. Secondly, it can be a long and all-consuming process.
For further insight into each of the key areas read our guide “Selling Your Company in 2025”, you may also be interested to read our eBook “SELL: The 30-Minute Guide to Preparing Your Business for Sale”, which is available for you to download free of charge.