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- Steps in selling a business include12:
- Determine the value of your business and price it appropriately. Consider hiring a business appraiser.
- Decide whether to use a business broker or negotiate the sale yourself.
- Organize your financial statements and tax returns and consult an accountant.
- Research potential buyers and their wants and needs. This is called prospecting and preparation.
- Approach the buyers and present your business in a positive and persuasive way.
- Handle any objections or concerns from the buyers and address them.
- Close the deal and follow up with the buyers to ensure a smooth transition.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Determine the value of your business so that you can price it appropriately. Consider hiring a business appraiser. Make a decision as to whether you'd rather use a business broker, or negotiate the sale yourself. Organize your financial statements and tax returns dating back a few years and go over the details with an accountant.www.investopedia.com/articles/pf/08/sell-small-bus…Key takeaways:
- The selling process is the interaction between a salesperson and their potential buyer. There are seven common steps to the selling process: prospecting, preparation, approach, presentation, handling objections, closing and follow-up.
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