You've done it. You've put in the ten thousand hours that are crucial for success. You've poured in the blood, sweat, and tears.
You've made it — your business is finally in a position where you can sell it and achieve financial freedom (or, if you've got the entrepreneurial itch for good, fund your next venture).
So now what do you do for a smooth business exit? How do you actually go about the process of selling an established company?
One of the best ways to do exactly that is to hire a business selling service for you. That's right — there are lots of different brokers out there who will be able to sell your business at the best valuation it could possibly get in the market.
In this article, we'll take a quick look at how this business selling service process works.
Before You Find a Selling Service
Now hold on. Just because you can hire a business broker to assist with the sale doesn't mean that you won't have to do any legwork to get your business sold. Indeed, there are in fact several steps you need to take before you even think of getting in touch with a selling service.
The first step to take is to get your financial documents together. This in itself can often be a herculean task if your operation is lean enough not to require a staffed accountant. However, the truth is that no one is going to buy a business that doesn't keep detailed financial metrics that will prove its potential to produce an ROI.
Next in the steps of selling is valuing your company. Your broker will also complete this step when they take on the task of selling your business, but you want to get your operation privately valued by a third party to ensure that the broker is giving you a fair shake.
How to Choose a Selling Service
Now you're ready for the next part of the business sale: actually choosing and hiring a selling service. Make sure to research only brokers that have experience dealing with businesses in your market. For instance, if you have an HVAC company, only consider hiring an HVAC business broker.
This is because industry-specialized brokers will have a lot more connections than someone who has no prior experience selling in the market. Thus, you'll be able to move your operation off the market faster, and often at a more favorable price point.
Whatever service you choose, they should be able to point you in the direction of several references that can attest to the quality of their service.
Selling a Business, Made Simple
There you have it — now that you know how to prepare for and use a selling service for your business sale, you should be far better equipped to exit your venture with a ton of cash to put into your next one.
For more business advice, be sure to check out the rest of the website! For more tips on the best business selling service and sales guidance in general, visit the Sales section of the Bootstrap Business Blog right now!
