Developing the best strategy to sell your business can feel overwhelming. The Author of the upcoming novel “EXIT on Your Own Terms,” Michael Wildeveld, joined Inside South Florida to share how to sell your business and get the best return on your investment.
“Most sellers don't end up feeling great about their sales. They're not disappointed about the purchase price they get. They’re disappointed because they didn't get enough for their business,” says Wildeveld. “We help take all those regrets away at the outset.”
Wildeveld has a series of strategies to get you the most money for your business.
“Keeping more is key. Everyone focuses on this top line number, but they're paying taxes on that, which diminishes their net proceeds from the sale,” says Wildeveld. “If they plan in advance, they can mitigate their taxes. If you're not paying extra in taxes, you will have more at the end of the day.”
Your perceived value of your business may not directly correspond to the offers you receive.
“Every owner seems to think a buyer is going to recognize the value of their business. Buyers aren't looking for reasons to pay you more,” says Wildeveld. “You have to pre-plan, have everything in place, and be competitive to buyers. These buyers are looking at a variety of different investment opportunities. You have to stand out.”
For more information, visit veldma.com
This Inside South Florida Segment is paid for by Business Spotlight TAMI, LLC.