Top 5 Tips For Selling Your Business – Business Partnership & Small Biz Experts

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It can be a tricky business (excuse the pun) to sell your company, there are nuances and procedures that no regular business owner should be expected to know. So Paul Dodgshon, Regional Partner for Manchester Central & South Cheshire aims to share some of his many years experience with a list of top tips for business owners, looking to sell their business.

1. Understand what you need

2. Prepare your exit: don’t be caught into being retained after purchase

3. Manage expectation with key buyer areas.

– Is the business structured for growth
– Are there key dependencies, a star salesmen or a major contract
– Cashflow, is it tied in contracts
– Position in market, your USP
– Reputation, why do people buy your product
– Your role, can the business function without you

4. Disclose the right information, at the right time

5. Be aware of the type of payment you want, and how you will achieve it.