Are you considering selling your business? If so, you are not alone. The process can be quite daunting and even more so if it’s your first time. With the rise of technology and globalisation, there are three disruptive factors that will impact how quickly or slowly your company sells: competitors, buyers, and the economy.
Competitors pose a threat to any business looking to sell by matching pricing or undercutting on price in order to win over customers from the competition. In addition, they may offer more convenient services such as online ordering which is becoming increasingly popular with consumers today. Buyers have been having difficulty finding good deals due to a lack of liquidity in private equity markets for small businesses according to research by the investment banking giant Goldman Sachs.
Selling your business is an important decision that requires careful consideration. It takes time and thought to sell, but there are things you can do now for when it’s more challenging than ever before!
The first step in preparing yourself will be understanding what type of person would buy from someone like YOU, the seller and are all their ducks lined up perfectly… or not so much?
Understanding why people make buying decisions matters because this knowledge could help prevent buyer’s remorse down the road if they had concerns beforehand about purchasing YOUR product/service or investing money into something new instead of maintaining continuity within its industry via absorption by another company already operating successfully alongside them.
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Psychological Factors Selling Your Business
Buyers enter the process with preconceived notions about how things should work, as well their own psychology. The psychological factors that buyers bring into a sale are just as important to consider when selling one’s business.
Sellers need an understanding of what exactly these people want out-of-the deal (i.e., “a great price”) and who they themselves may be psychologically influenced by (family, friends or business partners) so this transaction goes smoothly for everyone involved!
As a seller, you may have serious buyer expectations that are not going to be met. In some cases, they will stall out and there’s nothing we can do about it! But sellers should always try their best because if a business is in high demand then people won’t hesitate to buy without thinking too hard first – which could end up costing our company more money than anything else ever would.
Letting other parties influence how much these buyers cost us might sound like an easy way out at first but let me tell you from experience, no one knows what he or she wants until after the deal has been done.
A seller’s own psychology can play a huge role in whether or not they are successful at selling their business. Many sellers enter into the process without fully understanding what is involved and this factor underscores just how important working with professional’s months before actually placing your company on sale really should be! Thus, if you’re looking for a business broker then make sure that person has experience dealing specifically within businesses like yours because he/she will have knowledge about market conditions specific enough to help guide realistic expectations while still meeting desired outcomes
Acts of Fate
You don’t want to miss a thing when it comes to selling your business, but you can never predict what might come up. There can always be something at the last minute that throws things off track and causes hassle for all parties involved. So, while we’re not going into detail about every possible disruption out there – because again these are just too unpredictable – here is one tip: if someone says they’ll deliver goods or do work by a certain date expect them push back on delivery time without warning!
Marc Phillips has over 30 years’ experience in the field of business sales. He will be able to provide you with a free consultation and answer any questions that you may have about selling your company. Call today for more information on how he can help at +61 455 150 990 or send an email via this web page form.
3 Disruptive Factors in Selling Your Business