Can I Sell My Business By Myself or do I Need Help?
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Listen to the podcast, watch the video http://freedomfactory.libsyn.com/can-i-sell-my-business-by-myself-or-do-i-need-help or read the transcript below.  Hey, I am Robert Hirsch from Freedom Factory, and I want to speak to you about selecting the best partner to assist you offer your service. Now, if there's a lot of individuals that state, Oh, I know someone, however just because you understand someone doesn't indicate that you have the ideal person that's going to take full advantage of the worth on the biggest possession in your life Right? Individuals state buying a home is the biggest purchase your sale you're ever going to make. Which's definitely not real. If you're an entrepreneur, it's going to be selling your service. So there's a couple of lessons that I discovered when for us choosing the best partners in regards to clients and for customers, picking the ideal partner in regards to broker. So here are a couple of lessons that I have actually learned over twenty years that I just do not flex on. One, absolutely nothing ever begins hard and ends up easy. Meaning, if the first discussion is difficult and the 2nd conversation is difficult, or if it's a very difficult settlement on something as basic as a company agreement, this isn't going to get much better when you go to a possession purchase agreement or a stock purchase agreement, when you go to offer. Things that start off difficult end up hard and half the things that started easy end up hard too. The greatest base test for me is I find a partner where it begins easy and are both singing from the very same tune book or from the same page.  Now a great way to evaluate that is make sure that you speak the exact same language. And I've said often times that bankers don't speak entrepreneur and entrepreneurs don't speak banker, and if you need someone to offer your bank, let me tell you now, I'm not your man. But if you're a business owner that takes responsibility for your own outcomes and you wish to sell your company, I 'd like to have a discussion with you and find out precisely why you constructed your organisation by doing this. How do your passion and function align, and particularly what do you desire in the next chapter of your life? What does that look like? So, a collaboration and why I call it a partnership. It's not really an agency arrangement in regards to a home or you have a representative just strolling in and showing it. The reality is when you offer a business, it's a six month procedure and often considerably longer. We try and get it performed in 147 days here at Freedom Factory. When we go to offer a business, it's really a partnership. What you require to do is run your service and make certain it's as lucrative as possible. The top reason that deals go sideways when they're on the agreement is because the earnings goes like this. The earnings decreases and the profit goes down. It raises issues in the purchaser mind and as any deal person will inform you, time kills all offers. And when you offer the purchaser a chance to think of it and to believe, Oh goodness, if it went down here, when they're running it, imagine what's going to take place when I do it. And at the very least, that's going to decrease your sales price. And in the worst case scenario, it's going to explode your company. So what I want you to do is do what you do best. I desire you to run your business. I want you to make certain it's as profitable as you can. And what we're going to do is what we do best, which is developing offer tension from several purchasers that are interested in your organisation. And that's how the collaboration works. The way we structure all our offers is we only earn money when you make money and your success is our success, which's why we select our partners extremely thoroughly.
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