As a successful entrepreneur, you rarely deal with the issue of wanting to sell your own company. At some point, however, many start-ups get to this point. The better you are prepared for this moment, the greater the chance of finding a suitable buyer.
We have shown you exactly how successful preparation should look like using this simple 7-step plan.
Successfully Sell a Business in 7 Easy Steps
As soon as entrepreneurs decide to sell their company, they are usually faced with the question of how to do it. After all, they want to negotiate a good selling price for their business and hand it over to reputable hands.
These goals are easy to achieve with the help of this 7-step plan. Selling your own company successfully should no longer be a problem, even for inexperienced people.
1. Define goals
The first step in being able to sell your own company in a professional manner is to set precise goals. Since an entrepreneur is often emotionally attached to his business, not only legal and financial aspects should be defined here. Think carefully about whether you want to give up all your rights to the company with a sale. Or maybe you’d prefer to remain a partner or you’re on the Looking for a successor .
Regardless of which variant you choose, structured planning can be extremely helpful here. It’s best to put together a schedule of when exactly the sale should take place and what you still want to achieve by then.
2. Preparation of the documents
As soon as you have decided on a period of time, the actual preparations can start. This also includes collecting all important data and information. You should then summarize these in a structured manner as comparable documents. Interested buyers can thus get a quick overview of the company’s current situation. Based on this, they can get a more precise picture of whether your company fits their ideas. In addition, as a seller with a complete sales concept, you appear much more serious. For many buyers, this is often the deciding factor in whether or not they buy a store.
3. Set the sales price
This step is probably one of the most important and difficult at the same time. On the one hand, you want a fair compensation for your work and time invested in the company. On the other hand, you also have to meet the price expectations of potential buyers. Difficult business. Especially because there is often an emotional bond with the company, but this should not have any influence on the sales price.
When determining the company value, the company should therefore be valued from the market perspective. Good preparation also pays off in later negotiations. You have a much better basis for arguments here if you can represent the sales price based on different points of view.
4. Presentation of the company
The right presentation also has a special influence on being able to sell your own company. As in real life, there is only a first moment here. This is the very moment that decides whether a buyer is interested in your company or not. The aim is therefore to draw attention to your ad as well and for as long as possible. The more professional and appealing you are when it comes to payment, the greater the chance that you will receive interesting offers to buy.
5. Implementation of the company sale
This step describes how you can best respond to such purchase offers. As a seller, you want to have the final say in your decision
This is exactly why you should prepare yourself for a wide variety of eventualities. So think about exactly how you want to proceed with an inquiry. Maybe you enter into negotiations directly or you set yourself a period of time in which you first wait for inquiries to arrive. So you can filter out the best offers right from the start. In the rest of the negotiations, you always have the upper hand.
6. Build a relationship of trust
Finally, it is also important to build a foundation of trust with your buyer. As a rule, they do not know you and your business. Many buyers understandably react suspiciously at first. But since this is a bad foundation for a successful and smooth sale, you should show the buyer of your company that you are playing with open cards and have nothing to hide.
7. Maintain fairness
Lastly, we advise you to always be fair. Nobody likes to be ripped off and that’s why you shouldn’t do this either. On the one hand for your conscience, but especially from a legal point of view, this can have serious consequences.
So treat your potential buyers with the necessary respect and don’t be put off by differences of opinion. Just because someone is striving for a different concept than your tried and tested does not mean that it is worse.
In order to be able to act on a professional level during negotiations, an external moderator is sometimes a good idea. Based on his experience, he can contribute to a fair and successful conclusion of a contract without one side of the negotiation feeling deceived.
Companies sell on Projektify
If you too want to sell your company and are still looking for the right platform, then you’ve come to the right place. We at Projektify are experts in buying and selling web projects of all kinds. In addition to the possibility of using our platform free of charge, we are also happy to assist you as advisory experts. Take a look around our website for yourself or go directly to here Creation of advertisements .
But even if you don’t want to sell at all, you’ve come to the right place. We always offer you new information on many economic topics. Among other things, we have focused on the areas Make money on the net , Passive income , Part-time self-employment or Corporate succession specialized.
Would you like to exchange ideas with a real expert on this topic? Then use ours Service of advice for the sale of a company.
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