How to Sell a Company Fast Without Hassle

Selling a business is a big affair- and finding the best price for it is not straightforward. Of course, some people can sell their business as soon as they list it; but that is not the case for everyone. Before selling a company, you should know how to prepare- there are certain things that you need to do to get the best value for it.

 

Connect with a Business Advisor

You can refer to advisors as brokers, agents, etc. when it comes to buying and selling business. Whatever you call them- we can’t deny the fact that finding a business advisor is 100% necessary while selling a company.

You see, a company isn’t an easy thing to sell. It requires networking, and there are a lot of appraisals, negotiations, and paperwork to be done. Also, expect to answer a lot of questions of the buyer- sometimes, the inability to answer some of their inquiries effectively can result in them losing their interest completely.

A business advisor first helps you with the appraisal of your company- they will see if the prices you are setting are practical, or if you are asking lower than what you should actually get. The good thing about this is that advisors and agents mostly work on commissions, so to make a good commission for themselves, they will help you find the highest price for your company.

After appraisal comes the finding buyers part. Your agent will get you potential buyers and they will help you select one depending on the price and also the purchaser’s ability to run a company of your type.

Finally, they will do all the negotiations and the paperwork for you. While all this is happening, you can rather use your time to focus on the core business activities, and increasing the company price, even by a little. Some agents operate globally, while you can also work with ones based on Singapore for the best results- check agents for business for sale Singapore.

Ensure to Keep the Process Confidential

Never make a noise when selling your company. It will give a negative message among your customers and other connections like suppliers and may scare purchasers away. It is also one of the reasons we told you to connect to a business advisor on the first point, as they will help sell your company without a fuss and alerting a lot of people.

Instead of using social media, you should consider listing your company in an eCommerce marketplace like Easy Buy Sell Business. It is a site where owners can list their companies for sale and connect to buyers. As these websites are meant for business professionals rather than product customers, they will help make your sale a secret, finding the maximum number of customers at the same time.

Manage Accounting and Business Operations Records

After connecting to a buyer, a lot of time will be spent on them reviewing your accounting records. Thus, you should make every accounting numbers available to them, preferably one of the past six months.

The records should be up to date, also complying with the accounting standards of your jurisdiction. Business planning, budgeting and forecasting, and cash flow forecasting and management information should also be available. Additionally, with your reports, you should provide the industry benchmark for each of them- remember, the more transparent you be, the more chances you get of successfully selling your company. 

After the accounting data, another important thing to do while listing your business for sale is accumulating all the data of your business operations. This includes the organization chart, procedures manual, supplier contracts, customer profiles, analysis, automated process, and so on.