8 Common Mistakes

As a business owner, you do everything. If you started the business, you had the thrill of putting it together, planning it, hiring the employees, buying the furniture and much more. Perhaps as you grew, you brought in employees to help you, but you are pretty confident you can "figure things out". This is why some business owners consider selling their business themselves as well. Certainly they know the business better than anyone else. Sadly, there are many legal and financial pitfalls that lie ahead for the business owners that choose this path. To help you avoid these pitfalls, here are the most common mistakes business owners make when trying to sell their business themselves. Not establishing fair market value. The real value of any business is what someone is willing to pay for it. Without seeing the information about comparable businesses and having a feel for what buyers want, you cannot establish a fair market price. Without establishing the fair market value, the owner often wonders if they really got the most for their years of hard work in the business. Letting emotions get involved. As the owner of the business, you are at a disadvantage for negotiating because you are emotionally attached to the business. It is always wiser to have a 3rd party negotiate for you. One business owner "fell in love" with a couple and drastically reduced the price of the business for them, because she liked them. Sadly, 4 months later she was suing them for not paying on the seller financing. avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars avocadoallstars