How to Find the Right Buyer for Your Business and Avoid Negative Consequences

Choosing the wrong buyer for your business could poorly impact your outcome, but it can also poorly affect your employees, the community and your customers. Avoid detrimental outcomes of a sale by using these tips to evaluate and choose the right buyer for your business:
  • Determine the requirements you have from an ideal buyer and set hard limits around financing terms.
  • Create a listing that stands out from the crowd and weeds out false interest.
  • Pre-screen each potential buyer to ensure that they are genuinely interested in purchasing the business and hire a trusted professional to request further information from each prospect.
  • Once you’ve received detailed information on a potential buyer, go through it thoroughly to make sure they meet your pre-determined requirements and are capable of running the business well.
  • Understand the difference between a strategic buyer and a financial buyer and how each will affect the future of the business.
  • Know the market. Currently, it’s a very strong market for sellers and an excellent time to sell your business for a premium. Conditions may change soon, however, and could change your experience selling.

Read full article How to Find the Right Buyer for Your Business and Avoid Negative Consequences | Inc.com

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