Is the sales process taking longer than you had expected? Feeling short of motivation? These 6 inspirational quotes will pick you up!
1. People don’t ask for facts in making up their minds. They would rather have one good, soul-satisfying emotion than a dozen facts.
– Robert Keith Leavit
Of course facts are important in selling your business. You will need to produce a clear paper trail of the company’s financial workings including tax returns, revenue, profits and losses and proof of unrecorded income.
But these will not close the deal. The thing that will make someone part with their hard-earned cash and buy your business is the right feeling.
There may be a hundred other businesses just like yours on the market, so you need to focus on the one thing that you love most about it – and sell that.
Remember that most of your potential customers are not only buying a business, but a new life-style, and those decisions can only be made from the gut.
Think about why you bought the business in the first place and channel that enthusiasm into all your advertising and communications.
2. Every sale has five basic obstacles: no need, no money, no hurry, no desire, no trust.
– Zig Ziglar
Ok, so if there’s no need for your business, then you really are up the proverbial creek. Whether you set up a chocolate teapot factory, or (more likely) your chosen industry is struggling, you will find it hard to sell.
But if your business is a viable option and you promote it well – someone will have the money to buy it.
Hurry, desire and trust – these are things that you can inspire in business buyers with the right sales patter.
As with any sale, creating a sense of urgency around your product is vital. If you are using a broker, make sure you are convinced they have the energy, experience and contacts to sell your business well. If not, use several marketing avenues, clever advertising and well worded sales pitches.
And try to be honest with prospective buyers – customers can smell cooked books and overblown success stories a mile off.
3. As you travel down life’s highway…whatever be your goal, you cannot sell a doughnut without acknowledging the hole.
– Harold J. Shayler
There will be some aspects of your business that you found difficult or that will mean some hard work for its new owner.
It’s best to be clear about these from the outset of the sale. Your purchaser is far more likely to trust you and feel comfortable about the acquisition if they feel that they have the whole picture.
By all means, tell them that your B&B in Cornwall gave you the best quality of life you could have hoped for, great surfing opportunities and the chance to meet hundreds of fascinating people - but don’t forget to mention the barren winters, early mornings and endless washing.
Your buyer will probably know this is the case – but the fact that you are being honest, will reassure them that yours is the business to buy.
4. The man who will use his skill and constructive imagination to see how much he can give for a dollar, instead of how little he can give for a dollar, is bound to succeed.
– Henry Ford
It’s a given that if you prepare for the sale of your business by getting it in the best shape possible, you will get the best sale price possible.
Making sure your enterprise has better assets and prospects than the next on your buyers list, will encourage the buck to stop at your door.
Try to avoid putting your business on the market when it is struggling – you will be inclined to ask for more than it’s worth (after all – it harbours all your blood, sweat and tears) and could find yourself still on the shelf two years later.
5. If it doesn’t sell, it isn’t creative.
– David Ogilvy
The bottom line for any buyer is the potential they see in your business how much money they think they can make when they take it on.
Your buyer will look at all aspects of your business in their due diligence investigations and will be thinking about how they can improve the existing set-up.
If there is nothing to grab their imagination, they will most likely walk away.
Don’t forget that even the areas of your business that are not so rosy, may look like exciting growth opportunities to some buyers.
6. Don’t wish it were easier, wish you were better.
– Jim Rohn
Selling a business is rarely easy.
Sometimes all the factors will seem to be in place except the right buyer. Sometimes the right buyer is there but your business is just not attractive to them.
Whatever the reason, there will always be room for improvement. Look hard at what could give your business the edge and try to make those changes, even if you’ve been on the market a while.
You need to be putting your best efforts into your business until the ink is dried on the sales contract – think of your business’ sale as a survival of the fittest, and you will get there in the end.
Ready to sell? You are just 10 minutes away from advertising your business to 1.3 million prospective buyers. Sell your business today.