Lack of preparation is by far the most common mistake made by those who want to sell their business. Just as you improve your home before you sell it, you should analyze and fine-tune certain aspects of your business before listing it for sale. iKadre professionals confirm that financial documentation, profitability, issues related to renting space, employees, and other issues will influence the stability and affect your business’s price on the market.
Correct Business Evaluation
Inexperienced sellers tend to set a price (usually a very high one) before knowing the true value. This is a big mistake because the price is the most critical factor in determining how long a business will stay on the market. Sellers who take some time to make a fair evaluation of their business before listing the price are more connected to the real market situation and better positioned to defend their price and gain the advantage of a quick sale.
Prior qualification of potential buyers is essential for a successful sale. This step protects necessary information about your company and will ensure that only serious buyers have access to key sales details. Prequalification documents, such as confidential commitments and financial information, should be the buyers’ standard requirements for anyone interested in your business.