Treat it like the biggest sale of your career

Treat it like the biggest sale of your career because that’s exactly what it is.

Does your business have some type of advertising piece or sales slick or brochure used to entice customers to buy your product or service? A Web site? Certainly. The days of “word-of-mouth” advertising are virtually nonexistent. So are the days of word-of-mouth business sales.

For the same reasons that you possess printed and online materials to entice prospective customers or clients to do business with you, you need similar tools to entice prospective buyers to look at your company when it’s for sale.

As you’ve read earlier, the potential buyers of your business will be smart, savvy and sophisticated. They are busy, interested in a smooth transaction, and probably looking at your company as well as several others. They demand information, but don’t have time to dig for it. They will be impressed by your ability to present your company in a well-thought-out, well-documented package – offering answers to their questions about its performance, people and plans.

One recommended way to do this is to prepare a sales tool for your company. Your intermediary is experienced and skilled at putting together such a package. A Preliminary Prospectus is a document the buyer can review before receiving a copy of your Management Book – a more formal document. It needs to include the following sections:

• Sales Pitch
• Photographs/Video on CD (optional)
• Company History
• Selling Price and Terms
• Company External Environment
• Employee Information
• Asset Assessment
• Environmental Issues
• Client List (generic)
• Outstanding Contracts or Agreements
• Location(s) Description(s)
• Plans for the Future
• Supporting Financial Documentation
• Product or Service Literature

Copyright © MMIX by ERV Productions Inc. All rights reserved. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a data base or retrieval system, without prior written permission of the publisher.

Eric R. Voth has been a successful business owner and seller since the 1970s. Among other enterprises, he is currently owner of ERV Productions Inc., and author of How to Sell Your Privately Owned Company.

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