Top Ten Mistakes Made By Sellers
Top ten mistakes made by sellers:
- Neglecting the day-to-day running of their business with the reasoning that it will sell tomorrow.
- Overpricing the business and hoping that the price can always be reduced.
- Taking confidentiality for granted.
- Selling at the last minute/neglecting to plan ahead.
- Expecting that the buyers will only want to see last year’s P&L.
- Negotiating with only one buyer at a time and letting any other potential buyers wait their turn.
- Having to reduce the final price because of unwillingness to assist the buyer any further after the sale has been made.
- Underestimating the importance of the structure of the deal.
- Overly competitive.
- Dragging out the deal and not accepting that time is of the essence.