Is it time for you to sell your business? Here is some useful information to help you identify your next steps.

Selling a business is a long and delicate process. You will need to demonstrate a certain professionalism. You will need to give potential buyers the conviction that your company will be a good fit with their future objectives.

Accompanied by a specialist in business sale negotiations, the following advice will strengthen your position and credibility.

Prepare yourself, anticipate all the questions and leave no room for improvisation

Identify your ideal buyer

Just as you have defined your ideal customer, you need to establish the right profile of the future buyer of your company. He or she will take over from you. He will certainly bring his personal touch, the history of your company will continue with him and the match between your customers and the new leader will have to exist. The choice of the future boss is therefore essential for the continuation of your company’s activities.

Draw up a business plan

Drawing up a business plan will give substance to your sales project. This business plan will include the strategic vision, market position, marketing and sales policy, human resources and finance. Take the time to prepare your company for the sale, strengthen its position. This business plan will contribute to a better justification of the desired selling price. Do not sell in a hurry, separate the emotional from the rational.

Organise your company for your buyer

It is your responsibility to ensure that your company is properly organised and immediately operational for your buyer. This is part of the credibility of your sales project. An efficient structure will help justify your selling price. It will undoubtedly be an asset in your future negotiations.

Depersonalise your company

Avoid at all costs that your company is totally dependent on you. Your company has the right to breathe without you. The more you put in place an efficient organisation capable of operating independently, the more you will reassure your buyer that your business model is sustainable. A company director is a conductor, he must not combine the different functions of the organisation. Through delegation, the buyer will also be able to develop the motivation and degree of involvement of your employees.

Avoid the pitfalls of undervaluing

It is often interesting to reason in the place of the buyer. The latter will certainly look for every opportunity to lower your price. He will analyse your balance sheet, what is visible but above all what is invisible. We could mention the guarantees you have given to the banks, the reliability of your growth forecasts, your organisation, your staff, your position in the market, the possibility or not of carrying out operations other than those not included in your business plan, etc… Anticipate, leave nothing to chance, the devil is in the details.