Waiting for better economic times to sell your company? That's a common anthem in the small business community.
(article continues below)
In a skittish economy, business software business sellers can access several strategies to receive fair market value from entrepreneurs who understand the value of a good business investment.
How to Work with Business Brokers
Business brokers are professional business sellers. Brokerage is particularly common in the business software business-for-sale market, where aggressive selling strategies are the norm. Brokerage doesn't replace the seller's requirement to be involved in the sale; it augments the seller's efforts and creates a more seamless sale process. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Laying the Groundwork
Effective business software business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a business software business to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium business software business opportunity.
Dealing with Buyers
Buyers can present challenges, especially during the due diligence stage. The questions business software business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. When concerns arise, it's helpful to base your responses on facts and data. If you don't know the answer to a question, there's no shame in admitting ignorance and telling the buyer you'll look into it. If due diligence drags on too long, your broker may need to intervene.
Given your interest in exit planning and in business software businesses, you might find these additional resources to be of interest.
If starting a business software business is on your agenda, these guides will help you get started:
If you consider business software businesses to be sales prospects, there's more applicable information for you elsewhere on our site. These helpful guides are more appropriate for you:
If you are looking for exit plan advice for a different kind of business, please browse our directory of exit planning guides below.