Dire economic forecasts have forced many boiler rental business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
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Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your boiler rental business, your business brokers may or may not be willing to conduct negotiations for you. But although you will responsible for negotiating terms with buyers, you should never approach negotiations without support. 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.
Handling Unexpected Outcomes
If you're smart, you entered your boiler rental business with a set of assumptions about what it would achieve. Ultimately, many sellers find that the market is unable to deliver their anticipated outcomes. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your boiler rental business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
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