Secrets of a Business Broker! Part 2
What have I learned that makes me a valuable consultant to a client?
Setting the right selling price to go to the market.
The second thing is that as the marketing to sell a business gets going there will be the occasional seller who gets the jitters. Their patience has run out and they just want it sold, right now. They want the price to be reduced.
As an ex Financial Planner (and a Chartered Accountant) who held a Proper Authority, the golden rule to protect the client’s money was to reinforce one thing over and over again, stay in the market. It is length of time in the market that makes money, not picking the ups and downs.
So it is with selling a business. Once we set a price we need to ensure the market knows it is for sale and that can take some time. We subscribe to the fact that if the business is priced right then it will sell if it is marketed right.