Allen Harris | Mind Your Business: The art of selling your business | Columnists

According to the Business Reference Guide, 80 percent of businesses put on the market do not sell (firms under $50 million in revenue). According to PricewaterhouseCoopers, 12 months after selling, 75 percent of business owners surveyed “profoundly regretted” their decision to sell.

Maybe selling a company is more complicated than people think?

I can’t blame business owners for believing it will be easy to sell. Owners receive “offers” every week. But, these offers aren’t genuine. They’re trying to pique your interest so that they can inspect you. Then they’ll point out all the problems that you don’t think are problems, and then (if at all) give you their real (and dramatically reduced) offer.

Selling your business is the biggest financial event of your life. You want to do it right — from beginning to end. It’s not like trying to sell a house, where you can step out of the deal with no consequences….

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