What are the top 3 mistakes that business sellers make?
The most expensive mistake that sellers make is not taking the time to plan a sale. If you have to sell in a hurry, the chances are pretty slim that you will get what you deserve. The second most expensive mistake that sellers make is that they get themselves into a single buyer auction. This typically happens when the seller got an unsolicited bid from an industry player. The other common situation is when a seller tells his banker or CPA or attorney that he is planning on selling and the well meaning counsel introduces the seller to someone who is looking to buy a business. Regardless of the reason, if there is just a single player determining the value of your business, you are very likely to get an offer that is well below the market price. The third most expensive mistake that sellers make is taking the eye off the ball during the business sale process. This tends to be not only expensive but traumatic as the buyer renegotiates price and terms of a deal that you think is done. If
