Tuesday, January 08, 2008

Get Ready - Buyers Get Picky

According to The Wall Street Journal in "Want to Sell a Business? You May Not Be Ready", most small business owners trying to sell their business have not prepared their company properly for sale. With the changes in the marketplace and buyers getting picky, many sales will take longer than expected if they occur at all.

If your small business is not properly prepared, you will also face increasing difficulty in finding the most cost effective financing that may be available. Sixteen months ago, I noted that if you want to make it easier to obtain financing for your business, run your business as if it’s about to be sold. With dark clouds gathering in the credit markets, those words are equally valid today.

If you recall from September 2006, I invited Jim Biedenbender of BizValPlus to share with us The Ten Commandments for Selling a Business. I encourage you to go back and take a look - Jim's advice is right on target whether you're trying to find a business loan or sell your business. By the way, Jim Biedenbender of BizValPlus can be reached at 310-850-5014 if you need advice on preparing to sell your business or with a valuation.

And if you need help preparing your small business to approach the right lender or to tell your story the right way, read "Matchmaking for Business Loans" and give me a call!

Tags : small business , Wall Street Journal , financing , Jim Biedenbender , BizValPlus

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