So, you have a great business that you’ve invested your heart and soul in, and now for whatever reason, it is time to move on. You have kept your eye on the EXIT and have done all the right things. At this point, business owners want to know: how do you determine the value of a small business?
Find Experts in the Space
Because success is so vitally important, you will want to engage the services of a trained, experienced professional. There are specialists in every field, and business brokerage, mergers and acquisitions, and investment banking are no different.
The differences among a business broker, a merger and acquisition intermediary, and an investment banker usually are based on what everyone prefers to be called. When it comes to selling a business, the functions are the same, and just as in every profession, you will find very good ones and very bad ones.
Focus on Experience and Credentials
Do not get caught up in the names. When it comes to selling your business, you want to find the best professional to handle your transaction. They’ll market your business to qualified buyers and oversee the transaction to ensure that it goes smoothly.
To help make your choice, you should consider only professional business brokers with industry designations that speak to continual educational training. This ensures that they are serving their clients with the best possible knowledge, philosophy strategies, and ethics. They have the experience to help you through the specifics of the valuation of your small business.
Most owners sell a business only once in their lifetime. It is a momentous occasion, but one filled with unexpected challenges that could turn into monumental disasters if not handled correctly. When it is time to sell your company, your baby, the business that you have been married to for years, our advice is to seek out the best mergers and acquisition firm in your geographical area, the one with the best track record that you believe will provide the best service for you.
It Pays to Work with an Expert
Many factors contribute to how a professional determines the value of a small business. However, taking the time to go through the process will result in the most probable selling price and terms. At the Benjamin Ross Group, we know how important an accurate business valuation can be when planning the future of your company. That’s why each Benjamin Ross Group broker is highly trained and experienced in performing business valuations.
If you work with us, we’ll provide you with all the information you need on the value of your business, so you can make a more educated decision on the next step. The decision may be made to place your business on the market right away—or with the information from the valuation, work on your business to increase its value.
At the end of the day, a valuation isn’t just about helping you find your exit, but to make sure you have everything it takes to get there safely. (Of course, all this work is done while ensuring absolute confidentiality.)
If you want to know more about selling your business, then click on the link to download our selling a business checklist. It offers six simple steps to follow to get your business ready for a sale: