Most entrepreneurs have the skills and stamina to endure and prosper during the sale ofan electric cooperatives business.
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Despite the conventional wisdom, we believe current economic conditions are right for selling an electric cooperatives business. We'll tell you what you need to know to achieve a successful sale outcome
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. When that happens, it's best to have a frank conversation with your team rather than allowing rumors to circulate through the organization. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Working with a Professional Accountant
Professional accountants lend credibility to the financial preparation of an electric cooperatives business sale. Before your electric cooperatives business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Advertising Your Sale
Successful electric cooperatives business sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. A highly publicized sale creates vulnerabilities that can be exploited by your competitors. The best way to advertise an electric cooperatives business is to enlist the assistance of a business broker who is skilled in locating and contacting prospective buyers.
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