What are the myths of selling a company?
There are several myths about selling a company that can be misleading or simply not true. Here are a few common myths about selling a company:
Myth: You can only sell your company if it's doing well. Reality: You can sell your company at any time, regardless of its financial performance. However, it's generally easier to sell a company that is profitable and has a strong track record.
Myth: You can't sell your company if you're the only owner. Reality: You can sell your company even if you are the only owner. In fact, many companies are sold by solo entrepreneurs.
Myth: You need to have a lot of assets to sell your company. Reality: You don't need to have a lot of assets to sell your company. In some cases, companies are sold based on the value of their intellectual property or the expertise of their management team.
Myth: You need to have a lot of experience to sell your company. Reality: You don't need to have a lot of experience to sell your company. While experience can be helpful, it's not a requirement.
Myth: You need to have a lot of money to sell your company. Reality: You don't need to have a lot of money to sell your company. While it may be helpful to have some financial resources, it's not a requirement.
By understanding the reality behind these myths, you can better prepare for the process of selling your company.
By Dan Hansher
Dan Hansher MBA, Managing Partner & Founder.
With more than ten years in the Mergers and Acquisitions (M&A) industry, Dan is a recognized leader in the field, providing exit strategies, business valuations, and M&A advisory services to business owners in the lower middle market.
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