Myths, Misconceptions, and Realities About Selling a Business

When selling a business, there will always be outsiders telling you what they think you should do. Pacific Business Brokers is here to offer professional advice regarding selling a business and set the record straight with any misconceptions that come with selling. Check out this video from the experts named, “Myths, Misconceptions, and Realities About Selling a Business.”

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The business selling process is unique! Understanding the process is key to optimizing price, minimizing taxes and ensuring a successful transaction. There are widespread myths regarding selling a business that today, I am bringing to your attention.

Myth 1: I can sell the business myself.

Keeping your business operating at peak performance while you are be trying to sell it in a confidential manner, is an extremely difficult task!

Myth #2: I will sell my business when I am ready.

Personal factors are as important as economic conditions in the selling equation. Economic conditions may be favorable or not when you are ready to sell. Personal health or family matters can also be a factor and at times, force a sale, whether you are ready, or not.

Myth #3: I know what my business is worth.

Meaningful, and accurate reflections of real market Business Valuation requires training, experience and insight to the buyer’s side of the market. Without those elements, it is unlikely one can have a reasonable understanding of value resulting in un-met expectations and disappointment.

Myth #4: Selling a business is like selling real estate.

Selling a business requires a great deal of pre-planning, a high level of trust with the purchaser, seller involvement after the transaction closes, and may take 6 – 12 months with substantially more facets and moving parts than any, RE transaction.

Don’t get caught up in these myths…A no cost or obligation consultation with Pacific Business Brokers will help you gain a thorough, and realistic understanding of the selling process required to succeed.