Business owners should be wary of the top ten mistakes owners make when preparing to sell their business. Read below to learn more about these mistakes, so you can avoid them.
When building and preparing your business to sell, telling the wrong people about your plans could be detrimental. For instance, you could lose clients and even your employees if they find out. Maintaining confidentiality throughout the process is essential to maximize your value.
Some sellers will give away the farm when selling their business. They give away all kinds of proprietary information without having the buyer sign a NDA and a non-compete agreement, if one is needed. Be careful not to display too much information upfront to a prospective buyer unless you know your confidentiality is protected. We provide business owners with a “teaser” of their business that is displayed to potential buyers before a buyer signs a NDA.
In Exit Rich™, Michelle Seiler Tucker, #1 bestselling author and leading authority on buying, selling, fixing, and growing businesses, joins forces with Sharon Lechter, finance expert and co-author of Rich Dad Poor Dad, to create a must-have guide for all business owners – whether they’re gearing up to sell a business now or just starting to build out their company – to sell for huge profits in the future.
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