Hey Reader,

One of the most frustrating things I watched people experience is the gap between expectations and reality. It hurts you, and it hurts me.

I don't want you to experience that at all. That's why we're discussing myths of selling your business today.

Your business is special, however, that might not translate into value to someone else.

Here's 5 myths about selling a business to help with proper expectations

Myth 1 - Timing

1. Your business will sell quickly - It can, but plan on several months and sometimes it can take years.
2. You should wait for the perfect time - This is sort of a myth. There are better times to sell, but it's like the housing market. You don't know when things will change

Myth 2 - Valuation

1. I decide the value of my business, not buyers. - You decide to accept an offer, but buyers will only offer on market value typically.
2. Only sell if you're profitable - It's ideal to be profitable, but you could also liquidate or sell parts of a business

Myth 3 - Process

1. I don't need help - Maybe not, but you're putting yourself in an extremely difficult situation.
2. My business is ready for sale at any time - Until you have someone else look, you might not know.
3. I don't need detailed records - This is the number one thing you absolutely do need

Myth 4 - Confidentiality

1. It's not that important - You could lose your suppliers and customers if they think there's a problem. Those groups like to leave first and ask questions later
2. Buyers are experts - Sometimes they are, sometimes they're not. The buyer might not be the operator. It changes all the time.

I'm sure there's plenty more thoughts, but hopefully you feel the sense of turning a giant ship versus turning a tiny boat. It can definitely be done, but it's not a fast process.

That's a wrap, but if there's anything you want to see or hear more about then just hit reply and let me know!

Thanks,

Clayton

​DealSource HQ​

​