Selling a Business

Entrepreneurs need their own team to navigate the sales process.

10 Commandments for Selling Your Business in 2020

posted by: Josh Klassen
Feb 20, 2020 6:40:49 AM

  1. Thou shalt not open your mouth, and maintain strict confidentiality through closing.
  2. Thou shalt honor thy financial records and maintain their integrity.
  3. Thou shalt sell, repair, or pitch old, unused, or broken equipment prior to first tour.
  4. Thou shalt sell, give away, or pitch obsolete inventory.
  5. Thou shalt not covet unrealistic pricing multiples that your Uncle Harry heard your business is worth and price the business realistically for buyer cash flow and financing.
  6. Thou shalt not take the name of your broker in vain. Be transparent with your broker and include broker in all communications (No surprises please)
  7. Thou shalt not take thy foot off the gas and work hard to maintain sales and profit performance while business is for sale.
  8. Remember to have fun with the sales process, and prepare for busy and stressful moments.
  9. Thou shalt not take low offers personally.
  10. Thou shalt keep your eye on the prize and keep the big picture in mind.

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