Selling at a Premium Price

 

Selling my first company Student Express was quite a learning experience. Here are some quick tips for making a deal that meets both your financial and personal goals.

  • Sell when you don’t have to and don’t want to
  • To get a premium price – Build a great company
  • But a great company is not enough – You need a motivated buyer or better yet several motivated buyers
  • It’s not about you – It’s about the company without you
  • Get to know your potential buyer
  • Keep on top of terms of recent sales
  • Take Charge – Ask for what you want
  • Deal terms should achieve personal & financial goals
  • Negotiate alone
  • Advisors are just that advisors – The Deal is yours
  • Be selective what you share and when – The buyer could just be kicking the tires and looking for competitive Information
  • Be prepared for due diligence
  • Take your money and run
  • Have a short turnover period
  • Selling is as tramatic – It is a loss of part of you
  • Be open to new opportunites
  • There is life after your business

I will be diving into these tips and much more on the Entrepreneurial Best Practises Panel, ”Money – Money – Money – Planning your Exit’ portion, on Tuesday November 5th at 10:30 am at the 5th annual WEConnect conference next week in Toronto. I hope to see you there!

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