How to Sell Your Business
When you start your business do not begin with the exit in mind, start and grow a great business first and when you make the decision to sell your business start early and become more prolific and be prepared, understanding you are not going to be able to do it alone you need to surround yourself with good people.
Find out now if you’re building a high-value, exitable business (even if you have no immediate plans to sell it). You’ll get an instant PDF report with powerful insights specifically tailored to your business in just 4 minutes.
https://highvalueexit.scoreapp.com/
KEY TAKEAWAYS
You have to be cautious and controlled when you are selling your business o you can navigate the timing so you can leverage the best opportunity for you. You may have created something and it’s now time for someone take it to another place. Where can you sell a business - look for business for sale websites, often a sale will come from someone you know, a competitor or a supplier looking to extend their value chain. A broker has expertise in how you can position yourself and advertise your business You must leverage social media – go out and tell the story of your business and state you are looking for investors then people will come and have a conversation. Ensure you have NDA’s in place when you are communicating with potential buyers Ask the right questions to make sure they are serious Why do they want your business what can they add? It’s not about people showing you how much money they have up front. If you have someone with the right strategic outlook there are ways of structuring a deal without money upfront. Don’t close down any opportunities, the best deal could be the one structured in an unorthodox way rather than just a cash or money deal. Create a detailed information memorandum – the quality of the IM created in a succinct way is one of the most important things to have in terms of selling your business. It’s a mini strategy document and it can influence the psychology of the person looking to buy.5 biggest mistakes when selling
Not planning ahead or waiting too long to sell Not finding the right person to represent your business Thinking you don’t have to promote or market yourself Asking too much or too little for your business Selling the business to the wrong person When you start your business do not begin with the exit in mind, get focused, start and grow a great business first.
BEST MOMENTS
‘I’m always looking for the 1+1 =3’
‘Conversations can turn in ‘why don’t we buy your business’
‘I’ve bought a few in my time and I’ve sold a few in my time’
‘You are better off giving up a bit of margin to get the best price and get it done in the most structured and most successful way’
VALUABLE RESOURCES
Scale Up Your Business Podcast
90 Day Business Growth Accelerator website
Are you looking for a community of like-minded people who will support your goals and level you up? M1 is a whole life leadership mastermind with proven results in increasing net worth and passive income, and improving relationships, health & lifestyle - so that you can live life on your terms. If you're a high-achieving individual, with big goals and no excuses, and you want a place to belong where you can go on epic adventures around the world, be surrounded by people who live life big, and you want the accountability to take massive action in your life, then check it out at the M1 Mastermind by visiting www.rockthomas.com.
ABOUT THE HOST
Nick Bradley is a renowned entrepreneur, investor, speaker, and business growth expert.
His background is growing and scaling Venture Capital and Private Equity backed businesses globally. Over the last decade, he has completed 117 acquisitions and 25 business exits with a combined valuation of over $5bn dollars.
His mission is to help business founders build valuable businesses and create life-changing exits so they can realise freedom, wealth, and impact.
CONTACT METHOD
Nick’s Facebook page: https://scaleup.vip/FB
Nick’s LinkedIn: https://scaleup.vip/LI
Nick's Instagram: https://scaleup.vip/IG
Scale Up Your Business, coaching/consulting: https://suyb.global
