{"id":560846,"date":"2020-10-24T03:04:31","date_gmt":"2020-10-24T07:04:31","guid":{"rendered":"https:\/\/vrbbd.wpengine.com\/vrbbmadison\/four-common-seller-mistakes\/"},"modified":"2022-01-31T12:41:52","modified_gmt":"2022-01-31T17:41:52","slug":"four-common-seller-mistakes","status":"publish","type":"post","link":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/four-common-seller-mistakes\/","title":{"rendered":"Four Common Seller Mistakes"},"content":{"rendered":"
\"\"<\/p>\n

Sellers are just like everyone else in that they can make mistakes.\u00a0 In this article, we\u2019ll explore some of the most common mistakes that we see along with some of the repercussions.\u00a0<\/span><\/p>\n

1. Not Seeing the Buyer\u2019s Point of View<\/strong><\/p>\n

The first major mistake that sellers make is that they simply fail to look at the situation from the buyer\u2019s perspective.\u00a0 One of the smartest moves any seller can make is to step back and ask themselves two key questions.\u00a0<\/span><\/p>\n

\u00a0\u201cWhat information would I expect to see if I was thinking about buying this business?\u00a0<\/span><\/i><\/p>\n

\u201cWould I trust the information being presented to me if I was the buyer?\u201d\u00a0<\/span><\/i><\/p>\n

While there are many other questions sellers can ask to help reframe their thinking, these two simple questions can orient a seller\u2019s thinking towards a buyer\u2019s perspective.\u00a0 Additionally, investing the time to understand the buyer\u2019s position can help avoid a range of problems and help smooth out the negotiation process.<\/span><\/p>\n

2. Neglecting the Business During the Sales Process<\/strong><\/p>\n

Another seller mistake we see is that the seller neglects the business during the sales process.\u00a0 This can have significant negative long-term consequences.\u00a0 Sellers must understand that they must maintain the day-to-day operations as though the business is still theirs.\u00a0 The old saying, \u201cDon\u2019t count your chickens before they\u2019ve hatched,\u201d most definitely applies to selling any business.\u00a0 Business deals fall apart all the time.\u00a0 This is true from small deals to corporate acquisitions.\u00a0<\/span><\/p>\n

3. Overall Lack of Preparation\u00a0<\/strong><\/p>\n

Any seller who is truly serious about selling his or her business will have all of their documentation available and well organized.\u00a0 This list would include financial records, environmental studies, business forecasts and more.\u00a0 It is important to make a good impression and convey to prospective buyers that a business is well organized and ready to be sold.\u00a0 Disorganization on any level could make prospective buyers worry that the business isn\u2019t being operated in a professional manner.<\/span><\/p>\n

4. Holding Misconceptions Around a Business\u2019 Value<\/strong><\/p>\n

Finally, a real \u201cdeal killer\u201d can be when sellers don\u2019t understand (or have a mental block) concerning the real value of their business.\u00a0 This issue can lead many business owners to set a price that is simply too high or even completely unrealistic.\u00a0 Many sellers have put years of blood, sweat and tears into a business.\u00a0 Learning that their business isn\u2019t as valuable as they had hoped can be an emotional, psychological and financial blow all in one.\u00a0 But sellers also have to adjust to the realities of what the market will bear.\u00a0<\/span><\/p>\n

Avoiding seller pitfalls is incredibly important.\u00a0 Working with a skilled and proven business broker or M&A advisor is a way for buyers and sellers alike to avoid an array of significant problems that could otherwise arise.<\/span><\/p>\n

Copyright: Business Brokerage Press, Inc.<\/a><\/p>\n

06photo\/BigStock.com<\/a><\/p>\n

The post Four Common Seller Mistakes<\/a> appeared first on Deal Studio – Automate, accelerate and elevate your deal making<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Sellers are just like everyone else in that they can make mistakes.\u00a0 In this article, we\u2019ll explore some of the most common mistakes that we see along with some of the repercussions.\u00a0 1. Not Seeing the Buyer\u2019s Point of View The first major mistake that sellers make is that they simply fail to look at […]<\/p>\n","protected":false},"author":2,"featured_media":560848,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-560846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-seller-articles"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/posts\/560846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/comments?post=560846"}],"version-history":[{"count":0,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/posts\/560846\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/media\/560848"}],"wp:attachment":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/media?parent=560846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/categories?post=560846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/tags?post=560846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}