Sell a Business Tips
Selling a Silicones and Silicone Products Business
Business sellers have diverse personal and professional goals for the sale of their companies. But no matter what you expect from the sale of your silicones and silicone products business, it's in your best interest to maximize the sales price through the application of proven sales techniques.
Business sellers sometimes face a long, hard struggle to get fair market value for their companies. But with the adequate preparation, your silicones and silicone products business can attract buyers who recognize its potential.
If you're ready to move on, now is the right time to sell your silicones and silicone products business.
After the Sale
As your silicones and silicone products businesssale nears completion, there is a lot of work remaining to be done. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
In a tight economy, seller concessions are the name of the game. But that doesn't mean you can't push for buyer concessions to achieve a more favorable outcome in the sale of your silicones and silicone products business. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Dealing with Your Emotions
There is no easy way to say goodbye to your business. Although you might think you're ready to exit your business, selling and separating from a silicones and silicone products business scan stir up a range of emotions. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Share this article
Additional Resources for Entrepreneurs