When it comes time to sell your business, putting yourself in the buyer’s shoes is imperative if you want to anticipate the many questions they are likely to ask...below are nine commonly asked questions to prep for.
- Why do you want to sell?
- What's so special about your business that I can't find elsewhere or build it myself?
- How dependent is the business on you?
- How good are your people?
- Will our cultures and values be compatible?
- Is there client concentration risk?
- How do your generate new business?
- How can we grow the company?
- How can I be sure the company will continue to thrive under new ownership?
Businesses built to sell are businesses with proven, sustainable business models. Businesses that command top dollar are ones with unique value propositions that have potential for growth. Have great answers to questions buyers typically ask and you will be positioned to maximize your exit payday.
Are you ready to sell your business?
Steve Niehaus, MBA, CM&AP, CBI, M&AMI