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In order to sell a business quickly and at a great price, businesses need to be prepared for sale. This take a lot more than a quick tidy of the business. This section talks sellers through everything they need to do to ensure that their business is 100% prepared.
This includes how to ensure that records, accounts and filing systems are in order, how sort out company debts, and how to maximize the profits - perhaps by switching the focus of your business from long term growth to short term profits to show a healthy turnover.
It also provides detail on carrying out a business valuation to assess a business’s true value in the current market, from calculating the value of physical assets with businesses of a similar size and type, getting an expert valuation and finding the right connections to help with sales negotiations. Sellers can learn how to seize the day and how to plan the best exit strategy, both for sellers who wish to remain connected to the business or otherwise. Plus this outlines how to implement a training regime for the new buyer and existing staff remaining in the business post-sale.
The section helps sellers look through the eyes of the other party when it comes to selling the business, from looking at visual conditions, to maintaining employee motivation and tips on the corporate documentation required to prepare a business for sale, such as legal paperwork, recording minutes, and the seller’s own due diligence – in fact everything to ensure they’re ready for the questions that buyers will ask.