Keep Organized When Selling Your Business
What about for buyers?
Reeth: It's basically the flip side. First and foremost,
Do you have contracts for business? Do they have repeat business? What processes have they used to engage customers? Do they have specific marketing campaigns? How are products and services priced? That's kind of a starting point -- looking at the cash flow of a potential business and whether you can rely on it.
What are some typical mistakes made by buyers before the transition?Reeth: On the buyer side, one of the most compromising mistakes is not digging enough to understand cash flow base. You really want to press to understand the relationship between the business and the customers. Yet so much of depends on the nature of the business. If you're buying a business with a lot of equipment and capital access,
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