Are You Ready to Sell Your Business?
Make Sure You Understand Your Motivation for Selling Your Business
Are you thinking about selling your business?
This simple one-question quiz will help you to better understand your motivations behind this thought. A better understanding of your underlying motivations will help you make the right decision.
Select the answer closest to your actual reason for thinking about selling your business.
A. "I'm selling my business because of the money I will make on the sale".
B. "I'm just tired and it's not fun anymore."
C. "I have too many irons in the fire and can't keep up".
D. "I'm ready to retire from owning my business".
Click Here to Find Out if You are Ready to Sell Your Business
Sunday, October 31, 2004
Wednesday, October 27, 2004
Selling Your Service Business
How to Sell a Business which delivers an Intangible Product or Service such as Accounting Firms, Consultants, Engineering Firms and Training Firms
Many service businesses do not deliver a tangible product that sits on a shelf. They deliver hard to measure products like good advice, training, and planning.
Without forethought, it can be very difficult to show a buyer how they will successfully operate the business. Buyers are rightfully skeptical and want to see what they are buying. They want to know how the cash flow will continue after settlement.
Intangible services and products do deliver measurable return on investment to purchasers. The right advice has made many business owners millions. Intangible services and products have a high value when marketed and delivered properly.
It is just that it is very hard to see intangible goods and services.
Compare this to walking into a card store. The card store has fixtures to hold the cards. The store has inventory everywhere in the form of cards, gifts, balloons, etc. A prospective buyer can see what they are getting from the start. Very little is left to the buyer’s imagination. They can see what they are buying.
This is the riddle to solve to obtain full value from your service business. How do you demonstrate to a purchaser that your product really exists and will continue to sell?
To do this you must develop credibility with the buyer. These transactions take more trust between buyer and seller to overcome the lack of visible assets. You must clearly show the framework you have, namely, how the new owner will operate the business, keep the clients, and provide outstanding results like you have.
More About Selling Your Service Business
How to Sell a Business which delivers an Intangible Product or Service such as Accounting Firms, Consultants, Engineering Firms and Training Firms
Many service businesses do not deliver a tangible product that sits on a shelf. They deliver hard to measure products like good advice, training, and planning.
Without forethought, it can be very difficult to show a buyer how they will successfully operate the business. Buyers are rightfully skeptical and want to see what they are buying. They want to know how the cash flow will continue after settlement.
Intangible services and products do deliver measurable return on investment to purchasers. The right advice has made many business owners millions. Intangible services and products have a high value when marketed and delivered properly.
It is just that it is very hard to see intangible goods and services.
Compare this to walking into a card store. The card store has fixtures to hold the cards. The store has inventory everywhere in the form of cards, gifts, balloons, etc. A prospective buyer can see what they are getting from the start. Very little is left to the buyer’s imagination. They can see what they are buying.
This is the riddle to solve to obtain full value from your service business. How do you demonstrate to a purchaser that your product really exists and will continue to sell?
To do this you must develop credibility with the buyer. These transactions take more trust between buyer and seller to overcome the lack of visible assets. You must clearly show the framework you have, namely, how the new owner will operate the business, keep the clients, and provide outstanding results like you have.
More About Selling Your Service Business
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