When it is time to sell my business Rainbow, the mistake sellers make is becoming disengaged after hiring a business broker. Most sellers assume their business broker in San Diego will take care of everything for them. The important point you should remember is that there is no one that has the same level of motivation as you in regards to selling your business.
Yes, the business broker has vested interest and will bring qualified prospects but it is your job to turn those prospects into serious buyers by instilling confidence. When selling a business, the work of the business broker is to bring in qualified buyers but it is your job to convince those buyers that they can run and manage the business in your absence. You also have to show them you are willing to offer them guidance after closing.
An important point to remember as you sell my business Rainbow is that the deal is never done until it is signed and closed. As the deal progresses, some sellers become less and less active. While it is possible for your business to run smoothly without you, becoming less and less active only sends the wrong message to clients, buyers and employees. As a result, you may start to notice your sales dwindling.
Becoming less active also sends the message to potential buyers that you are less likely to be involved after closing. This means buyers will be afraid you will not offer the best help when they want to consult with you. Some buyers may feel you simply want to get rid of your business because it is a burden. Needless to say, becoming less accessible could raise red flags.
Many deals fall through because the business owner is inaccessible. You need to keep in mind that the business broker can only do so much when selling your business. When it comes to making major decisions, the broker has to involve you. If you are not there to respond, there is nothing the broker can do.
You may be headed to the closing table but if you are unreachable, the buyer will be frustrated. Remember that even at this stage the buyer can cancel the asset purchase agreement if you, the seller, is unreachable. What is even worse is that if a buyer cancels the asset purchase agreement, you will have to go back to your employees. If you broke their trust, you will have a hard time getting your business back on track.
The best thing you can do when it is time to sell my business Rainbow is to be reachable 24/7. It doesn’t matter how good the business broker in San Diego you are using is. If you are not reachable, you will end up impeding the process.