Youve worked hard to grow your business into a successful venture. Now you want to sell it and reap the benefits of all those years of hard work. There are many questions involved with selling a business, but the most important is: How do you find qualified buyers?
Some people say the quantity of buyers that are interested in buying your business is most important. Others say the quality of buyers is most important, regardless of quantity. But the correct answer is both are very important. Heres why:
If you have 50 buyers interested in your business, then you have plenty of quantity. But if you are selling a $1,000,000 manufacturing business and these buyers can only afford a business that costs less than $300,000, or if they all prefer a service business, then this quantity of buyers is a waste of time. You will spend hours talking to unqualified buyers about your business when they have no interest in actually buying it.
Conversely, say you only have 2 buyers interested in your business and they are looking to spend at least $1,000,000 on a manufacturing business. You have good buyer quality but not enough quantity. On average, you need at least...
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