Sell a Business Tips
Selling a Sleeping Bags Business
Planning and execution can dramatically influence the price you receive for your sleeping bags business.
The process of selling a sleeping bags business can be one of the most stressful experiences of your entrepreneurial career.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to sleeping bags businesses that exhibit strong financials and potential for future growth.
Selling Time
It's rarely possible to sell a sleeping bags business in a month or two. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. To adequately prepare your business listing, plan on spending six months to a year prior to listing. In a good market, an attractive sleeping bags business can sell in as little as a few months, although it can take more than a year to find the right buyer after the business is listed.
The Best Person to Sell Your Sleeping Bags Business
As the owner, you are both the best and worst person to sell your sleeping bags business. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your sleeping bags business in the business-for-sale marketplace. But your knowledge and personal insights about the sleeping bags business are also the problem. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the sleeping bags business to gain an objective sense of fair market value.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your sleeping bags business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
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