3 Reasons You Shouldn’t Sell Your Business Alone

In our modern age of technology, it’s easy to sell things on our own. Online sales sites like forsalebyowner.com, Craigslist, eBay, Etsy, Zillow and many others, give us the opportunity to conveniently sell everything from a coat to a car without an experienced professional. So why not sell our business by ourselves as well? Here are a few reasons why it’s always best to consult a professional when selling your business.

1. Time
   Selling your business by yourself is incredibly time consuming. If you are actively involved in running or managing your business on a daily basis, you probably don’t have enough time in your schedule to deal with buyers that inquire about your business.

2. Bias
   It’s hard for business owners to remain financially and emotionally unbiased. When you’re looking at a business you built from scratch or that has been in your family for a long time, it’s very hard to handle a sale completely rationally. Selling your business is an emotional not just financial decision. It is important during negotiations to have someone who can help you think through the offers that come your way without emotion getting the best of you. Sometimes emotions and quick responses kill deals before the value of the offer is ever fully considered.

3. Confidentiality
   Confidentiality is probably the most important reason to have a trusted partner walk alongside you as you sell your business. The right partner will help keep your business secure. Not only do you need confidentiality to keep customers, vendors, employees, and competitors from interfering in the day-to-day success of your business, you also don’t want important data to be released to the wrong buyer before they’ve been properly vetted.  A breech of confidentiality at the wrong time can create a firestorm of problems for you.

Understandably, business owners want to get the largest amount of money possible from the sale of their business. Many people think one of the ways to do this is to cut out professional help that would require them to pay a commission. However, if you are trying to sell your business alone, you actually have a greater risk of not making an optimum profit. You risk not having the best information at your fingertips and losing value because you’re too busy managing a transaction instead of managing your business. A trusted, experienced partner will help you maintain or even increase the value of your business and ensure a successful sale.