---

Guest post by: Andy Dun Become an Author

Tweet

---

---

Selling a business is one of the more important things any business owner will do in their lifetime. Years of physical & mental effort has been invested into building the business, so finding the right buyer to pay the right price is important, but an undertaking in itself.

The sale of a business, is something you as a business owner should carefully plan and manage months before putting it on the market. To start with, you should be putting yourself in the shoes of a potential buyer, who is looking for a business to buy, this means you should;

1.Clean up all the loose ends.
2.Minimize wastage in the business.
3.Have proper financial statements and projections.

By actioning theses three main things you will help the business sell, by being more attractive to buyers. So if someone was to step in tomorrow, the business should be able to run as well as if you weren't there. Things that you should be looking at;

> Review leases, make sure they don't set to expire while you're trying to sell.
> Having your customer/clients, invoices digitalized.
> A manual for unwritten rules & techniques.


Preparation is key in the process, and taking a step back months in advance before selling to make the improvements to the business, will only increase your chances of selling your business. On average Businesses take 9 months to sell, with a large percentage of sales before this falling through because of a disagreement over price, or buyers getting cold feet. So With the help of an accountant, and business broker, and comparables on websites like canadabizmart.com, you should be able to arrive at a realistic valuation, with the help to guide you through a smooth sales process.

Related Articles

  How much Planning is enough - Use Lean and Standardize
  Exiting Your Company Gracefully
  For Sale: Most Expensive VC Home in Country
  Planning Vs Worrying
  Setting Call Objectives
  A Stroll through the Short Sale Process
  Strategic Exit Planning and Strategic Tax Planning to Save Income Taxes
  Part Eight - Prospecting for More Sales
  Business Exit Planning - Can Your Business Survive If You Could No Longer Manage It Tomorrow?
  Franchise for Sale
  Dont Just Make a Sale
  Staffing needs in the Holiday Rush
  The Second Sale You Have to Make for Increased Sales
  Planning the End at the Beginning
  The Most Common Underwater Mortgage Mistakes-And How to Avoid Them
  What to Do before Foreclosing on or Short Selling Your Underwater Mortgage
  Year End Strategic Planning - To Plan or Not to Plan - That is the Question\"
  How To Increase Your Online Sales Anytime
  Why Is It OK To Plan A Vacation But Not Your Business?
  “The Top Ten Reasons Strategic Planning Meetings Fail, According To Your Strategic Thinking Business Coach”

Related Forum Posts

Internet Users Hbk http://www.internetscamsanonymous.com
Re: What's in a Name?
My entry
Seek Venture Capital & Funding
Re: How do you make the most of your day?

Share this article. Fund someone's dream.

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Getting the Word Out - Using a Media Kit

Follow Up Letter and More to Increase Sales

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.