Maximize the Price of Your Business by Finding a Strategic Buyer | Entrepreneur.com

If you own a business that you plan to sell at some point, you’ll want to maximize the price you receive. Often, selling to a strategic buyer is the best way to accomplish this. Think of a strategic buyer as someone who will get more benefit from owning your business than what it will cost. The business has additional value to this prospective buyer. Therefore, a strategic buyer is more likely to be willing to pay a premium for your company. Here are three steps to identifying the right strategic buyer and getting the best price.

1. Increase the number of prospective buyers. If your business isn’t already there, grow it into a fully-evolved midsize structure. This means having a competent set of managers in place with well-documented processes and an appropriate set of metrics to let you know what is going on in the bowels of the business without you having to be there personally. Then, delegate day-to-day decisionmaking authority to these managers and hold them accountable for results. The acid test for a fully-evolved midsize business is that the principal can leave for a couple of months and nothing much changes. "

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For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.