listing rates

Steps to take note when selling your business

To begin, do you even have a strategy for your business at all? Whether it is to diversify, grow and pass on to the next generation, making it listed, selling parts or whole of the business? Knowing what your initial end-game to your business journey would certainly help in keeping you focus for the journey that you will go through. You are definitely going to struggle, lose focus, meet obstacles and having a strong game plan would certainly aid in realigning your focus come what May. With this, we fully understand that plans to change along the way and as a business, we should always be flexible and adapt to time and market changes. That’s the reason why we mentioned the initial end-game. Being focused is good but too much of it or not knowing when to adapt is borderline stubborn.

If you ever decide that you would either want to raise funds to further expand and take your business to new horizons or list your business for sale, remember to ensure that you do your due diligence and market research. How do you even start?

Firstly, you would have to find a platform or have the know-how on where to even start. If you are well-connected, you may want to let your contacts know that you are either raising funds or planning to sell your business. They just might have the connection or know someone who might be able to help you out.

If this option is not really working or feasible for your current situation, you might want to look at services that offer solutions to these areas that are of your interest. You might want to go directly to Venture Capitalist for your business idea to raise funds or like trusted sites like Investment Ventures to list your business for sale. These sites give you a concentrated chance of getting your desired target segment. As these are places where they are focused and niche in their dealings, the target market they tend to attract are usually of higher quality.

However as this is similar to an investment and business, you would usually be required to “invest” a small amount of capital and/or time to achieve a greater return, in this case, your desired outcome of raising funds or selling your business.

Once you have identified the exit strategy of selling your business, you would have to choose a few quality sites to maximise your chance. Afterwhich, you would need to prepare your sales pitch. Yes, you hear it rightly, you still have to prepare a ‘sales” pitch or something similar with all the usual trappings such as sales, revenue, staff, cash flow, etc. Similar to a start-up, you would still need to convince potential buyers good reasons why they should invest time and money to your business.

In summary, exiting a business is somewhat similar to a start-up pitching for funds. The difference this time is you have something that buyers may want, a working concept that is already established (hopefully). This time, you may actually hold the upper-hand or have good leverage on the other party. Remember your pitching skills too, it actually makes quite a huge difference in the price. Should you need to raise funds or wish to list your business for sale, you may contact us directly. With this, we wish you all the best.