When a business owner decides it is time to sell, the next thing they often wonder is “who will buy my business?” Many private business owners tend to underestimate the number of buyers who may have an interest in their company. They view buyers as scarce, and believe that few highly-interested buyers exist outside of close competitors and maybe that one private equity firm that reached out directly a few months back.
In reality, your business is the scarce asset, and there are often dozens, even hundreds, of buyers that would all be willing to compete aggressively to acquire it. Below are eight ways to attract the buyer who will best meet your objectives and value expectations as a seller (not just the buyer that is most readily available).
1. Don’t wait for a buyer to come to you; run a process to find the best buyers2. Talk to Multiple Buyers
3. Work with an investment banker that manages thousands of buyer relationships
4. Use detailed marketing materials that tell the business’s story
5. Highlight the company's strengths
6. DON'T try to conceal the company's weaknesses
7. Know what you are looking for in a buyer
8. Choose advisors who will target buyers who best meet your objectives, not theirs
For a link to the full article, click here.
Steve Niehaus, MBA, CBI
[email protected]
239.565.3171
