Have you ever wanted to start a business or company of your own? If you have, you’re not alone — and maybe you already have one in place!
If you do, then you’ve likely definitely thought about selling your business for millions of dollars to a much larger company or organization.
If this is also true, the you will definitely love the list of articles and resources that we have in store for you today.
Expert Tips on How to Successfully Sell Your Business or Brand
With so many different resources and success stories out there from entrepreneurs on how they started companies for nothing and went on to sell them for big bucks, we wanted to select some of the best ones out there and share them with you.
Be sure to read through each of the features stories below, and then also share your favorite on social media to help inspire others to reach their goals.
Success Stories and Teaching Through Personal Experience
Reza Satchu is a well-known entrepreneur that has successfully built and sold several companies over the years, while also teaching The Economics of Entrepreneurship course for over 15 years at the University of Toronto and Next Canada.
However, with the focus of this article being on the creation and selling of companies, we wanted to highlight the following achievements listed on his LinkedIn profile:
Previously, Mr. Satchu co-founded, built, and/or managed several businesses from inception including: KGS-Alpha Capital Markets L.P., a U.S. fixed-income broker dealer with over $10 billion in assets, that was sold to BMO Financial Group; StorageNow, which became one of Canada’s largest self-storage companies prior to being sold to InStorage REIT; and SupplierMarket, a supply chain software company that was sold to Ariba Inc. Previously, Mr. Satchu was a General Partner at Fenway Partners, a US$1.4 billion private equity firm focused on acquiring leading middle market companies and a Financial Analyst at Merrill Lynch in the High Yield Finance and Restructuring Group.
In addition to helping companies grow in size and be acquired by other businesses, Reza also likes to share his expertise and life stories with other entrepreneurs as well.
A perfect example of this can be seen below through one of Reza’s recent videos featured on YouTube.
Another great resource for anyone looking to improve their talents and becoming a better entrepreneur in the process, is to read through this article where Reza Satchu answers different questions on entrepreneurship in the world today.
A Simple 7-Step Process to Selling Your Business
It’s one thing to start a successful business, and it’s another to actually grow it into a much larger business and have something to sell later on to a much bigger company.
This can be quite a complicated task for a number of reasons, especially when looking at the massive competitive on the internet today and the extreme importance in making sure all of your financials and books line up correctly.
When starting your search for information on how to sell your existing business, you can start by scouring through endless videos like the one below that can be found on YouTube.
Or, if you are ready to think about selling your business, there are plenty of resource guides and tips to help you along the way.
NFIB recently came out with a super detailed article on this process and they provided the following seven steps that you will need to follow.
- Determine the value of your company.
- Clean up your small business financials.
- Prepare your exit strategy in advance.
- Boost your sales.
- Find a business broker.
- Pre-qualify your buyers.
- Get business contracts in order.
With each of these key factors in place, it will be much easier for you to sell your business, while also getting the highest price possible.
How to Plan for the Eventual Sale of Your Business or Brand
With more businesses and brands in the world today than ever before, the idea of selling your existing business (no matter it’s current size) is more likely than you think.
Fortune 500 businesses and brands are always looking to grow and it’s through these small business partnerships and transactions that they are allowed to grow into smaller niche markets and industries that they might not reach as a huge global brand.
If you’d like to learn more about the possibilities in selling your business or brand, be sure to read through each of the expert tips and resources above.