What You Need to Know About Selling Your Company Through a Business Broker
Entrepreneurs often question whether they should sell their business themselves or seek help. Reed Phillips argues for the latter. In a guest essay published in Inc. Magazine, Phillips underscores the values that investment bankers and brokers bring to the table and discusses how sellers can choose the right advisors to facilitate the sale of their business.
Selling a company is an intricate process. Buyers tend to be more experienced than sellers, particularly when entrepreneurs are selling their first company. Therefore, it behooves them to get best advice from experienced advisors and avoid costly mistakes.
While there are numerous reasons why a prospective seller should partner with investment bankers or business brokers, Phillips emphasizes three. First, they are adept at negotiating the best value for a business. Second, they can find suitable buyers by leveraging their networks and domain-specific knowledge. And third, they work as an emotional buffer for the seller, mitigating tactical and strategic errors that may derail the negotiation.
Reed’s full article can be accessed HERE.