Selling a business is a complex process that requires careful planning and execution. Many business owners make avoidable mistakes that can lower the sale price or even jeopardise the deal entirely. At Infinity Buying Group, we’ve seen firsthand the issues that can arise, and we’re committed to helping you navigate these pitfalls to ensure a successful sale.
Here are some of the most common mistakes sellers make – and how you can avoid them.
1. Not Preparing Early Enough
Selling a business isn’t something you can decide to do on a whim. Proper preparation takes time, often months or even years, depending on the complexity of your business. Rushing into a sale without having your financials, operations, and legal documentation in order can lead to delays or reduced offers.
At Infinity Buying Group, we advise business owners to start preparing well in advance. This gives you the opportunity to optimise your business, address any potential issues, and be ready when the right buyer comes along.
2. Overvaluing the Business
One of the most common mistakes sellers make is overvaluing their business. While it’s natural to have an emotional attachment to the company you’ve built, it’s important to set a realistic price based on objective factors like profitability, market conditions, and future growth potential.
Our team at Infinity Buying Group provides an honest, data-driven valuation of your business to ensure your expectations are aligned with the market. This integrity in our approach ensures that both you and potential buyers are on the same page from the outset.
3. Failing to Maintain Business Performance During the Sale
Once you decide to sell, it can be tempting to take a step back from the business. However, declining performance during the sales process can be a major deterrent for buyers. Keep running your business as if you’re not selling – buyers are more likely to pay a premium for a company that is thriving.
We recommend staying focused on growth and maintaining your operational efficiency to demonstrate to potential buyers that your business has continued value beyond the sale.
4. Not Engaging Professional Help
Some business owners try to sell their businesses on their own, thinking it will save them money. However, navigating the legal, financial, and operational complexities of selling a business without professional guidance can lead to costly mistakes.
At Infinity Buying Group, we work with experienced professionals to help you through each stage of the process. From valuation to negotiations and closing, we’re here to ensure that every detail is handled with care and integrity.
5. Being Unclear About Your Post-Sale Role
Finally, it’s essential to clarify your post-sale involvement from the start. Many buyers want the previous owner to stay on for a transition period, while others prefer an immediate exit. Being upfront about your plans can help avoid misunderstandings and ensure that both you and the buyer are satisfied with the terms.
At Infinity Buying Group, we believe that integrity and transparency are the foundation of a successful sale. Our goal is to help you avoid these common mistakes and achieve the best possible outcome for your business. Contact us today to learn more about how we can support you through this important transition.
