Prepare to Sell Your Business
Although they may have offered you an acceptable or very good initial price; now, after the due diligence stage, future owners will look for any plausible and justifiable reason to lower the price even further your business. How much could it drop? Sometimes, it drops by a lot–even a third. And this third represents the estimated costs that the investors appreciate that they will have to pay to repair the discovered negative aspects. Of course these costs are exaggerated.
And if they all do that, it means you have to prepare your business for sale, as soon as possible, correcting and repairing any imperfections so that they will have very few reasons to reduce the price or to tighten up the conditions for taking over your business.
This book will show you how you can be successful in 95% of cases. Why not 100%? Because whatever you do, some buyers will become very creative when they want to find reasons to reduce the price. Sometimes, people just want to reduce the price to see if you will take their offer.
But even in these cases, by applying the ideas in this book in practice:
1. You can grow your business value by 10% or even more
2. You likely will have a more stable and more valuable business in the eyes of any investor
3. You will be able to sell it faster and at a premium price, thus obtaining a financial reward for your (lifetime) work