Preview Mode Links will not work in preview mode

Freedom Factory's Podcast


Feb 7, 2020

Selling a business seems pretty straightforward – offer your business to prospective buyers, sign the deal, and voila! However, it is not always the case. Many business owners are struggling to sell their business.

Finding buyers alone takes time. Some already find buyers, but as they take off, things begin to fall, and they end up going back to square one. In today's episode from Freedom Factory Robert discusses the single biggest mistake entrepreneurs make when selling their business, and how to avoid it.

Listen to the podcast or watch the video below

Don't Make the Single Biggest Mistake When Selling Your Business.

Read the Transcript Below

Hi again. Robert Hirsch here from Freedom Factory, talk to you today about the single biggest mistake that I see sellers make when selling their business. Now, In business you know there's simple and there's complex. And I think we all know the Einstein quote about, you know, any fool can make it more complex, It takes a real genius to make it simple.

and I want toRobert Hirsch - Freedom Factory And when we go to sell our business, the one thing that I always tell the sellers is simplify, simplify, simplify. We don't get points in business for degree of difficulty. This isn't the triple Lindy. And if we're not getting judged by the Russian judge this is really simple.

And so when you look at your business and you're presenting it to buyers, we want to make it as approachable as possible. So many businesses develop their own lingo, their own slang. It's very difficult to understand. Well, at company X, we call it blank. And I said, well, why don't we call it what the industry calls it?

They said, no, Robert. I'm not sure if you understand our business is different than the 99 other businesses that are similar to ours and so on and so on, et cetera.

So when you're looking at your business, what I want you to do is look at it from the outside in and pretend you're explaining it to your teenage, your teenage son or daughter, and explain it in terms so that they can understand it.

Because if they can understand it, the buyers are going to understand it, and that's going to be reflected in the valuation. Remember, simplify, simplify, simplify. And if you need any help with it, just give us a call at Freedom Factory and we'll go through anything you want to.

Thanks for watching. Please hit like and subscribe and we'll see you soon.

Freedom Factory is the world's best business broker helping entrepreneurs sell their business for maximum value.

Contact Freedom Factory for more information.


Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/
https://g.page/freedom-factory-denver

Also Follow Freedom Factory here

https://vimeopro.com/freedomfactory/business-brokers http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://vimeo.com/freedomfactory https://www.linkedin.com/company/freedomfactory

 

Additional Videos from Freedom Factory


What Type of Contract Structure Do I Need to Sell My Business
How to Prepare My Business to Sell
What is the Most Undervalued Asset Class

freedom factory - best business broker