Exit Strategy - A practical guide to selling your business
You don’t get what you deserve. You get what you negotiate.
A potential buyer is interested in buying your company. He may have made an offer already through your agent and it’s time to get the offer improved. The moment has arrived to negotiate the deal and the best way to negotiate is face to face. A meeting is needed so that you can strike a bargain and sell your business. But this is no ordinary sales presentation. It is the biggest and most complex sale you will ever make. Go into this meeting poorly prepared, intending to rely on your selling and negotiating skills or natural charm and you will come away disappointed. You might do a deal but will it be the best that you might have achieved?
How do you prepare for this meeting? Do you know you product inside out, all its features and benefits, weaknesses and unique points? Are you be confident that what you are selling is extra special. Your enthusiasm comes from this confidence. You - and your agent - must understand the business and project its strengths with confidence. This won’t be hard since you have promoted your company many times before, to staff, customers, the bank and other interested audiences. Because you have been running your business, you know how it works and if you have been grooming the business to sell, your enthusiasm will already be focused. But knowledge of the business is not enough........