I’ll be in Regular Contact with You
Some brokers will take your listing, and then it seems you never hear from them again. Well, they’ll call you for price reductions or renewals. Maybe they are working behind the scenes, or maybe not. I know that it can be frustrating to wonder what is happening when you are motivated to get your business sold.
But I’m not an ordinary broker. I’m an expert. That’s what you are paying for, and that’s what you will receive! That is why I stay organized, and on top of my communications with you.
You’ll never wonder what I am doing to get you to a closing, because you’re going to hear from me every step of the way. You might hear from me too much! I will be in regular communication throughout the entire marketing and deal process. I’m going to be in contact to discuss what’s happening, why it’s happening, and how to keep it moving along.
While I do most of the heavy lifting, I also understand that selling your business takes some teamwork. No one knows your business and why it is unique better than you. Through regular communication, I will keep the marketing for your business positioned right out in front to attract the best possible buyers, as quickly as possible.
During buyer management, I’ll let you know who is taking a look, and what I am doing to move them through initial discovery, and towards an offer. When offers are received, I’ll be in close contact to strategize the best response, with the goal of getting a solid buyer under contract. Weekly or bi-weekly updates are common during this phase of the sale process.
Due Diligence and preparation for closing is a busy time, and there is a lot to do for the seller, the buyer, and others. I will be there pulling the strings to keep the entire process and all the actors on track and on time. And, I’ll be there to answer your questions and explain how I am expertly guiding your deal towards the closing table. Expect communications almost daily during this final period.
Pre-closing, closing, and transition move by quickly, and I will be with you the whole way, preventing or mitigating any last-minute issues to make your deal successful.
I’ll Get it Sold
Successfully selling a small privately-held business is like baking an award-winning chocolate cake. To realize a truly exceptional outcome, you must have a great baker, the highest quality ingredients, and a superior process. Afterall, if you are going to spend all the time and trouble, why not make the most out of it?
Your business is a valuable investment asset. Selling your business provides critical capital for your retirement or other goals, and I only have one shot at maximizing the outcome for you. I provide the expertise and process, while you and your business must be ready as well.
That is why, unlike many brokers, I am very selective about the listings that I take.
My buyers are looking for the best businesses to buy, and willing to pay top dollar when they find them. They want desirable business segments, motivated sellers, a realistic valuation, good books, a motivated staff, diverse customer base, robust policies and procedures, and the rest of the house in order. Anything less, and the seller, buyers, broker, and a host of others will spend a lot of time and effort, but never get to the closing table.
If your business sounds like the one described above, then you have done great work as an owner! Congratulations on your accomplishment. I have a very high likelihood of getting your business sold, in a reasonable amount of time, at the best market price, and get you on to your next adventure!
If your business doesn’t sound like this, that is okay as well. I will provide you with a complimentary consultation and valuation for your business, and provide you with the benchmarking and suggestions so that you know which priorities need some attention. Then, I’ll stay in touch, update the valuation annually, and revisit your progress. Working with you over time, I will get your business in shape to maximize its value. When you are ready to pull the trigger, I will go to work to get it sold for you.
Will your business make the cut? Either way, you win. You are in good hands with my expert advice and professional process.
Is Hiring an Expert Worth the Cost? You Bet I Am!
Transacting a small privately-held businesses is a complicated process. It requires considerable training, experience, and skill in a variety of disciplines to get the job done quickly, for the maximum value, and with the least amount of stress for the seller.
If you are considering managing the sale on your own, consider the following:
- There can be more than a hundred steps in the deal flow, even in relatively simple transactions. Do you have the expertise to identify and manage them all?
- Business owners typically wear a lot of hats, and dedicate countless hours to their businesses. Selling your business is a substantial project. While complexity varies with the business, the typical process requires several hundred hours of effort over the period of a few months’ time. That is a full-time job in and of itself! Is this the best use of your time? Will you be able to complete this project efficiently? What is your time worth? Is there a lost opportunity cost elsewhere if you spend your time this way?
- Most “Main Street” sized transactions are completed in less than one year. But mistakes in the process can be costly and send you back to the beginning. What is your time frame to complete the sale? Do you know the pitfalls and how to avoid them?
- A typical successful sale requires about 50 buyer prospects to find the right one who will maximize your proceeds. Do you have access to enough quality buyers?
- Most buyers use an SBA loan to finance the purchase of a business. A number of buyers seek an immigration Visa to the United States in connection with the purchase of a small business. Do you have the expertise to work with these buyers or point them in the right direction? Or will you have to turn away these potential buyers?
- Managing Buyers is an art form and requires dispassionate expertise. It can be very difficult for a seller to manage their own buyers. Buyers will take full advantage of a seller’s passion for the business deal and use it to their advantage. Can you negotiate a deal as effectively as an expert third party can?
- There are a number of transaction related Contracts required during a deal. I have these lawyer-reviewed contract templates already. What will it cost for you to find or develop these contracts on your own?
- Valuation based on comparable sales for small privately held businesses is a task for which I am an expert. Where necessary, I can back up the price with data to get buyers comfortable and committed. Do you know what your business is worth, and do you have data to support it? If not, buyers will use this against an unprepared seller. Don’t leave money on the table when you negotiate your deal.
Successful business owners are very talented people, to be sure, but they also recognize when a job calls for a specialist.
I’ll show you the entire process and why hiring a professional business intermediary expert will put more money in your pocket at closing than selling the business yourself. And if I am not successful in bringing your transaction to a successful closing, then no fee is paid.