The Game with Alex Hormozi How to Sell a Business | Ep 494
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Feb 2, 2023 Learn how to win negotiations before they even begin! Discover the essential steps for selling a business, from market prep to engaging the right buyers. Strategies for working with bankers and the emotional hurdles sellers face are discussed. The importance of persistence, organization, and understanding key documents like NDAs and LOIs is highlighted. Plus, get insights on crafting compelling offers and managing due diligence to secure the best deal.
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Prerequisites for Selling
- Ensure sufficient size for institutional investors, targeting deals worth $5 million or more.
- Most businesses lack inherent value, often representing mere asset collections, not profitable enterprises.
Mitigating Deal Killers
- Diversify customer base to avoid concentration risk, which devalues businesses.
- Establish a defined, multi-channel sales process to demonstrate predictable customer acquisition.
Focus on High-Value Sales
- Alex Hormozi emphasizes selling strategies for high-value deals, distinct from common small business sales.
- He aims to share hard-won knowledge gained through years of experience, offering free guidance unlike others with vested interests.