Buying or Selling a Business - What Should You Do?



Yedda – People. Sharing. Knowledge.Buying or selling a Business
Buying or selling a business is complicated.  There is a lot to know and a lot to do.  Before you get started, I recommend you do some homework.  For example, there are numerous books available about how to buy a business.  There aren't as many for selling.

Then once you've educated yourself a little, I suggest that you find a competent professional business intermediary to help you.  Why?  Because two or more minds are better than one. And it helps you keeps your emotions in check during the negotiation phase.

Don't think buying or selling a business is emotional?  Every decision we make is an emotional one and then we justify it with logic.  A professional intermediary can help you separate the emotion from the facts.

If you are determined to do it yourself, there are some resources,but again, buying or selling a business is (besides your home), the biggest financial decision you will make.  Why on earth would you risk your hard-earned capital without getting help?

So when you look for assistance, make sure you ask several questions such as:  how long have you been representing clients to buy or sell businesses? What kind of licenses do you hold?  What is your education and training?  Are you a Certified Business Intermediary?  How many transactions have you successfully handled?  Do you represent both buyers and sellers?  How will I know that you have my best interests at heart?

These will get you started.  Good luck in your new venture.



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