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Selling A Business with the Right Perspective

I’ve seen this so often with business owners and home owners. And know I’ve done it myself. Whether selling a home or selling a business, it’s hard to see an offering from a buyer’s set of eyes. The tendency is to see it through our own eyes that conjure up memories of hard work and dedication. Blood, sweat & tears. Our investment. Our time. Our history. Our memory of what the business was or our vision of what the business could be. Its peak or its potential.

So, what should you do when selling a business? How do you gain the right perspective? It sounds simple, but it sure can be easier said than actually done. First you must make the decision to separate your personal feelings to gain a fresh view of the business you are trying to sell.  Take a step back and try and put yourself in the buyer’s shoes. Walk through your business with a fresh set of eyes – like you’ve never stepped foot in the door or never heard anything about it. Look at the numbers on paper from a non-biased perspective as if you were looking at a new company to buy. What would you really be willing to invest?

When selling a business, a business broker’s perspective and professional expertise can help you determine the business’ fair market value. But, as a seller, you have to be willing to take the right perspective. We know it’s hard. At Brown, we’ve been in your shoes. We have memories of our own blood, sweat and tears. But we also have memories of successful business transactions and transactions made easier with the right perspective. Go ahead. You can do it!