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Dołączył: 11 Mar 2024 Posty: 1
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Wysłany: Pon Mar 11, 2024 07:50 Temat postu: Global Entrepreneur: Selling a Business |
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Buying or selling a home is the largest transaction most people will make in their lifetime.
It is usually your most valuable personal asset.
This requires a lot of attention in preparing your sale and having sales professionals to market your property.
For an entrepreneur, buying or selling a business is like selling a residence. It is typically the largest and most important transaction you will ever undertake.
Careful preparation may be more important today than ever. With so many businesses coming to market, you could say we are in a “buyer’s market.” It is important that your business can stand out.
If you plan to sell your business in the near future, you should consider what you should do and what you should avoid to maximize value and preserve your hard-earned wealth.
Actions to take
Plan ahead
It's never too early to plan for Portugal Mobile Number List these types of transactions.
Taken to the extreme, planning for a sale could begin as soon as your business is established, by preparing a written shareholders' agreement between the owners of the business.
Among other things, this agreement may outline the basic rules of a shareholders' agreement, where it may also provide a clause for the reciprocal purchase/sale of shares, often called a shotgun clause. to avoid a long and costly dispute resolution.
Maximize the value of your business
Many of the steps you need to complete to get the most out of the sale of your business will need to be done well in advance of the transaction.
The best way to increase the value of your business is to show strong performance and profits over the past few years.
You can improve your profits by developing and implementing a marketing plan that focuses on creating a diversified customer base.
Profitability can be improved by analyzing your processes to efficiently realize benefits and establish repeatable and teachable processes to increase your productivity.
Remember: The biggest driver of business value is profitability and your ability to demonstrate it.
Keep a cool head
It's easy to get carried away with emotions when it comes to selling a company you've built from the ground up, but now is not the time to let emotions overtake business sense.
Organize your records
Any serious buyer will want to do their homework before purchasing your business, and you need to be ready. Among the documents that you must have prepared are: financial position, minute books, customer and supplier contracts, employment contracts, detailed list and description of assets, pending and contingent liabilities, etc.
You will need to prepare a confidential information memorandum that provides a summary of the business to interested buyers.
Finally, make sure you are organized and ready to answer any questions.
Expect delays and be patient
Selling a business can be a complicated process. Things such as the structure of the transaction (i.e. an asset sale versus a share sale), validation of the value of intangible assets (such as goodwill or intellectual property), or the level and type of financing required They are added to the calendar to complete a sale. _________________ Portugal Mobile Number List |
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