12 Jan Around the Web: A Week in Summary
The following information has been sourced by Business Brokerage Press for the benefit of the business brokerage community. The views of these articles do not necessarily represent the views of Business Brokerage Press. We hope you find this information helpful.
A recent article from BizBuySell entitled “What 2021 Teaches Business Brokers About Preparing for Success in 2022” takes a look at key takeaways from 2021 for business brokers to apply to 2022. While the past year did include pandemic, supply chain and labor challenges, the economy still spurred ahead and many deals were made.
Based on what was learned in 2021, tips for business brokers in 2022 include:
- Be prepared for a more active business for sale market
- Be prepared to offer your clients a greater digital experience
- Be more visible and accessible to clients online
- Leverage BrokerWorks to grow your business
- Follow BizBuySell’s best practices to market your listings
Click here to read the full article.
A recent article from Viking Mergers & Acquisitions entitled “What Will a Business Broker Help Do?” discusses the value a business broker brings to the table when selling your business. The role of a business broker is multi-faceted and they are very important to a successful deal.
Key functions of a business broker include:
- Providing a professional business valuation
- Protecting confidentiality
- Attracting and negotiating multiple offers
- Vetting interested buyers
- Providing a buffer between the buyer and seller
- Managing due diligence
- Providing objective guidance
Click here to read the full article.
A recent article from BizBuySell entitled “3 Key Aspects of Smart Exit Planning for 2022 and Beyond” explores critical components of a successful exit plan. Exit planning is all about preparing for the eventual sale of a business well in advance to foster a successful sale and transition at maximum value.
When crafting your exit plan, be sure to include these key steps:
- Identify weaknesses and areas for improvement to help increase the value and salability of the business
- Review your financials and create a strategy to add value
- Figure out what you will do after the sale, how much money you will need, and what the future of the business looks like after you exit
