Business Exit Planning
Selling a Motivational Speakers and Consultants Business
Your motivational speakers and consultants business is a tangible reminder of the passion and dedication you've invested in your entrepreneurial career. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
You've invested too much in your motivational speakers and consultants business to let it be sold for less than its worth. But unless you adequately prepare for the sale, some lucky buyer may walk away with a huge discount.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your motivational speakers and consultants business.
Selling a Motivational Speakers & Consultants Business to an Employee
Employee sales have pros and cons. There are some perks to selling the business in-house. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based motivational speakers and consultants business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Promoting a motivational speakers and consultants business Sale
Successful motivational speakers and consultants business sales incorporate comprehensive advertising plans. But if you think advertising your motivational speakers and consultants business will be the same as running a product promotion, think again. Multiple factors complicate business-for-sale advertising, not the least of which is the fact that you don't want your competition to know that your company is on the market. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. Business brokers are skilled at publicizing motivational speakers and consultants business sales while maintaining the confidentiality that is critical to your business.
Leveraging External Resources
Rarely, if ever, do owners sell a motivational speakers and consultants business without outside assistance. Although it's wise to recruit a business broker, brokerage isn't your only concern. Other early hires include the professionals you will need to valuate the business, prepare financial statements and navigate legal considerations. In most cases, your sale strategy will call for the assistance of outside professionals at various stages throughout the process. Early recruitment makes it easier to execute your strategy without unnecessary interruptions.
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