All business owners think about selling their business at one time or another. However, for the ones who decide to go forward and sell, there are certain points that need to be addressed if they want to have a successful transaction and get the most money for their business.
After selling over 800 businesses, I decided to list eight common mistakes owners make when selling their business:1. Trying to sell it yourself
2. You are too sensitive about your business
3. You don't know how to arrive at fair market value
4. You don't know how to recognize a qualified buyer
5. You probably don't know where to look for the right buyer
6. You fail to recognize that selling a business is a process, not an event
7. You have to assemble the right team to get the job done
8. You aren't committed to selling
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Steve Niehaus, MBA, CBI, CM&AP