I Should Be Able to Sell My Business On My Own, Right?
A lot of sellers fall into the trap of thinking that they can sell their business completely on their own. But, they fail to realize at the time that is short sighted. They may be able to rely on their accountant or a valuation expert to establish a price they can sell their business for in the market, but once they have to prepare compelling and optimized marketing materials and strategies that they are unfamiliar with, it can fall apart quickly. It is true that an online search with yield some of the best platforms to expose their business to buyers, but how do they optimize those platforms while also protecting confidentiality? How do they word their offering so nobody figures out who they are, but the right buyers see it and respond? An experienced business brokerage firm knows exactly how to leverage those platforms and will have the resources to know which ones are best. Simply posting a business online is only one channel in a comprehensive confidential go to market strategy. Your strategy should not just be passive. It should be aggressive as well. It should be tailored to your business with a goal to get your business confidentially in front of as many buyers as possible to maximize the value your get in the sale of your business. An experienced Business Broker / Advisor will know exactly how to do that.
Even if an owner figures out how to take their business to market, then the buyer inquiries start. Anyone who has worked a deal as an Advisor or a business owner, knows that once those emails and calls start coming, they won’t stop. They can be time consuming. You must review confidentiality agreements and buyer profiles, talk to buyers, weed out the tire kickers, qualify the prospects, have initial discovery calls. Once those are complete, you must juggle requests for Confidential Information Memorandums and tours, coordinate offers and counter offers, then gather information for due diligence. This process is a full-time job on top of running that business, and all before you get to a closing. If the deal falls through, you do not want to be in the position of having taken your hands off the wheel and let the business suffer.
Your Business Broker or M&A Advisor will be experienced at navigating this process efficiently and have tools and processes in place to make it a smooth and easy experience for you as a business owner. You will be able to concentrate on what you do best… running your successful business.
By Ralana D. Abraham-Miller, Managing Partner
XGO Business Brokers and Advisors
Email: Ralana.abraham@xgoadvisors.com
Phone: 317-245-4912
Book a call with Ralana Abraham-Miller
Ralana is an almost 20-year veteran of the business brokerage industry, with vast experience in marketing and selling small to lower middle market businesses in the Midwestern, US. Ralana has been behind the desk in orchestrating comprehensive confidential go to market strategies as well as in the trenches with her clients as a Business Broker with more than a dozen successful deals to her credit. She is a passionate advocate for the businesses she represents and the entrepreneurs she is privileged to assist. Having been in a family business, she knows first hand the challenges, triumphs and pitfalls a business owner and their family experience.
In her role as Managing Director with XGO Business Brokers and Advisors, Ralana strives to bring that same passion and energy to the brokerage division. This focus and injection of industry expertise coupled with XGO’s legacy of strong customer service, extensive professional network and emphasis on teamwork and support from its parent company GO Services are a winning combination, making XGO truly the GO TO Market Advisory firm.
XGO is a Business Brokerage and M&A Advisory firm focusing on deals in the small to lower middle market range around the country. XGO’s headquarters is located in Carmel, Indiana. With their extensive network of associates, they can provide a range of best-in-class brokerage services throughout the US. If you are considering a sale now or in the future, please feel free to reach out for an exploratory conversation.