Is it time to think about selling your company? You have several important decisions to make, to be sure you get the most from your company and everything goes as smoothly as possible. However, before you sell your business in Omaha you might want to consider these five tips to help you avoid some common mistakes.
1. Why Are You Selling?
Your reason for selling can have a lot to do with the sale. For example, some owners sell to retire while others often get out of the business due to health reasons. Partnerships sometimes need to be dissolved or you may just be tired of working too hard each day.
2. What Do You Plan To Do with the Money?
Your motivation for selling and plans for the profit can have a huge effect on your asking price. For example, are you willing to break even or perhaps take a small loss in order to sell? Maybe you need as much profit from the sale as possible for a new and exciting venture. These are important considerations when you sell a business in Omaha.
3. List All the Good Things about Your Company
Before selling, you should make a list of all the positive things you can say about your company. Why is this important? These things will become your major selling points and can make the difference between getting top dollar and losing money. Here are some features buyers commonly look for:
-
Consistent profits – do you make money month in and month out?
-
Customers – do you have a healthy base of repeat customers?
-
Profit increases – has your income gone up each year on a consistent basis?
-
Contracts – perhaps you have a government contract or a major corporation as a customer. These are excellent selling points.
4. List the Bad Things Too
It’s important to know all the negative issues surrounding your company. After all, a seller is going to be very interested in these issues also. If you have a list of negative things already made up, you can focus on the reason for these things and this can help to present your company in a more positive light. For instance, if your profits were down last year, it could have been from the economy or the result of a natural disaster.
5. Get Professional Help
When you need to sell a business in Omaha, a business broker is one of the best professionals you can turn to. He or she helps you with valuation and successful strategies for prompt sales at top dollar.
