Telling Group, LTD
Category
General Information
Locality: Cortland, New York
Phone: +1 607-756-4073
Address: 3938 Highland Rd 13045 Cortland, NY, US
Website: www.TellingGroup.com
Likes: 81
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Some tips from our friends at BPP.
CONSIDERING SELLING? SOME IMPORTANT QUESTIONS Some years ago, when Ted Kennedy was running for president of the United States, a commentator asked him why he wanted to be president. Senator Kennedy stumbled through his answer, almost ending his presidential run. Business owners, when asked questions by potential buyers, need to be prepared to provide forthright answers without stumbling.... Here are three questions that potential buyers will ask: Why do you want to sell the business? What should a new owner do to grow the business? What makes this company different from its competitors? Then, there are two questions that sellers must ask themselves: What is your bottom-line price after taxes and closing costs? What are the best terms you are willing to offer and then accept? You need to be able to answer the questions a prospective buyer will ask without any puffing or coming across as overly anxious. In answering the questions you must ask yourself, remember that complete honesty is the only policy. The best way to prepare your business to sell, and to prepare yourself, is to talk to a professional intermediary.
Business valuations are almost always difficult and often complex. A valuation is also frequently subject to the judgment of the person conducting it. In addition, the person conducting the valuation must assume that the information furnished to him or her is accurate. Here are some issues that must be considered when arriving at a value for the business:
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