Simple guide of the 4 steps you need to take to sell your business

I should write an article called "101 reasons why you should NOT hire a business broker."

Part 1: They do not earn the expensive commission they charge.
Part 2: They do not know how to do a proper valuation.

Parts 3-101 coming later.

Why is there not a dislike button


One of the biggest scams imho is the "valuation" game. It's a vain attempt to put a number on something that can't be explained by a number. A long time business person CAN put a valuation on a business after talking to the owner for quite a long time, looking at the "figures" and looking at the lifestyle of the owner, etc etc etc. Taking any notice of "data" from a business that has taken years hiding profit is an exercise in futility. I created anew or bought 58 businesses in my career and ultimately sold all of them. I always spent a couple of days in the town and talked to customers, suppliers etc and THEN made a decision. LASTLY I would look at their books. Brokers have ONE good asset that they can provide and that's connecting the buyer and seller. If the broker is good, they will also spend the time to "learn" what the seller is really selling. It's ALWAYS more than assets and I suspect that few "brokers" bother to take this time. It's too bad, because there would be a much better market for a "broker" who did it right