Top 10 Common Business Owner Mistakes

TOP MISTAKES BUSINESS OWNERS MAKE WHEN PREPARING TO SELL

#1 TELLING OTHERS

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.

#2 GOING SOLO

#3 POOR TIMING

#4 HIRING A REAL ESTATE AGENT

#5 NOT PROTECTING THE BUSINESS

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.

#6 POOR SELLING PRICE

#7 NOT SECURING YOUR LOCATION

#8 NOT QUALIFYING BUYERS

#9 FOCUSING ON ONE PROSPECT

#10 SELLING TO EMPLOYEES

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THE EXIT RICH BOOK

EXIT RICH®: THE 6 P METHOD TO SELL YOUR BUSINESS FOR HUGE PROFIT

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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