11 Things You Absolutely Need to Know About Selling Your Business
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Selling is much more than a transaction. It is the process of making your company presentable, desirable, marketable and financeable. It’s knowing who your buyer is and how much he or she can pay. It is understanding what is valuable in your company, and what isn’t. Selling your business starts with the decision to sell…someday. From that point on you should be preparing for the transaction phase, but the transaction phase is the end game, not the whole game. Hundreds of small business owners have asked me “What do I have to do to make my business ready to sell?” Fortunately, the answer is very straightforward. To get the most value when you sell your company, do everything that you should be doing anyway to make your business more successful. What is good for you is good for the buyer. It is that simple. What do you think is worth more to a buyer: a business that depends on the owner for every decision, or one that doesn’t? Would you pay more for a company that had every procedure documented, so that a new owner could look up anything he or she needed to know? Would you perceive more value in a bunch of employees who did only what they were told, or ones who could make good day-to-day decisions while you were on vacation? Would you be more likely to buy a business that had strong financial statements or one where the owner could only verbally describe (wink…wink) all that he was taking “off the books”? Would you prefer increasing to shrinking margins? Would you rather have a diversified customer base, or one big customer that dictated terms?
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About the Book
In 11Things You Absolutely Need to Know About Selling Your Business John F. Dini, serial entrepreneur, successful business broker, coach and consultant to thousands of business owners, takes you step-by-step though the process of selling your company. John’s frank and open style developer though years of “straight from the shoulder” conversations with entrepreneurs, gives you the tools you need to prepare, market, and sell your business at the best price. Completely updated and illustrated with real-life stories from John’s own experience. This second edition of 11Things You Absolutely Need to Know About Selling Your Business is an even more valuable addition to every business owner’s reference library.
About the Author
John F. Dini has over 30 years of experience as a serial entrepreneur, and is currently running his seventh business. He has owned and operated successful start-up and turnaround companies for over 30 years. He is a Certified MBA, and holds additional credentials as an Exit Planner, Business Intermediary, Business Broker, Medical Practice Executive, and Professional Behavioral Analyst, as well as a Facilitator and Business Coach. John founded The Alternative Board® in San Antonio, Texas in 1997 and oversaw its growth to the most successful chapter in the world. He writes on small business ownership for newspapers and magazines, and speaks frequently to business owner groups. His small business advice blog can be found at www.awakeat2oclock.com.