The Game with Alex Hormozi How to Sell a Business | Ep 385
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Apr 28, 2022 Discover the secrets to winning negotiations before they even begin! Uncover essential steps to determine your business's value and maximize sale price with insights on customer diversity and growth. Learn how to navigate the complexities of the sales process, from finding the right buyers to managing due diligence. Gain practical negotiation tactics that can shape your future and ensure a successful transaction. Prepare to transform your selling strategy!
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Prerequisites for Selling
- Ensure your business has low customer concentration, a defined sales process, and multiple customer acquisition channels.
- Target enough acquirers, time the sale strategically (avoid selling too late), and have realistic valuation expectations.
Demonstrating Enterprise Value
- Demonstrate high future sales and a high likelihood of achieving them to increase enterprise value.
- Have a compelling reason for selling your business and be prepared to answer questions about it convincingly.
Finding a Banker or Broker
- Network to find bankers or brokers specializing in your industry and business size.
- Prepare a compelling one-page teaser to pique their interest and secure a meeting.