Times are good right now, but as anyone who weathered the Great Recession storm knows, good times don’t last forever. We are currently in the 11th year of an expanding economy – and it is widely considered unprecedented for a robust business cycle such as this to have continued for this length of time. The general consensus among business brokers and some of the most well-respected economists is that we are going to see increased recessionary pressure at the end of 2020 and into 2021 and that impact of the downturn will be felt for several years to come.
So much more than a simple piece of paper, Non-Disclosure Agreements are arguably the single most important document as you consider moving forward with the sale of your business. In fact, the business broker you engage likely won’t even entertain a substantive conversation with a prospective buyer without first having a signed NDA from the interested party.
The number and variety of attractive businesses for sale in Colorado makes the Denver market a vibrant one. When considering selling your business, it is important to have a clear understanding of what makes your company attractive to prospective buyers.
You have built a solid company and are chugging along pretty nicely with no intentions of selling your business any time soon. But wait, will you feel the same way a few years out when you are ready to move on to something new or are approaching retirement age? Or worse, could you be faced with an illness or some other event which might force you to sell? A smart business strategy means having an exit plan in place long before you ever intend to sell.
Every business broker knows that the art of negotiation is a deep and complex process that, if done well, finds both parties walking away from the table satisfied (and often very happy). But if executed poorly, the negotiation process can leave participants feeling like there were defined winners and losers – which is never a good thing.
Gregg Kunz of Rocky Mountain Business Advisors, Inc. is the recipient of the Chairman’s Circle Award given out by the International Business Brokers Association (IBBA) during its annual conference in Orlando, Fla. on May 11. The Chairman’s Circle Award recognizes those who closed one or more business deals amounting to $3 million and above in total purchase price during the 2018 calendar year.
At Rocky Mountain Business Advisors, we are a team of business brokers with decades of experience. We bring a wealth of ownership experience when we help our clients sell their companies at the right time and for the right price.
At Rocky Mountain Business Advisors (RMBA), we have an 8-Step process that we live and breathe by when facilitating the sale of our clients’ businesses. This process enables focus and precision to how we work with closely-held business owners who are ready to sell, and keeps the end-goal firmly in mind: selling for the best price possible.
Selling your business can be an exciting time and, for many business owners, it is often more of a new beginning (and a chance to follow your dreams!) than a sad farewell. But despite all the positivity surrounding this major turning point, many business owners find the process of selling their company stressful, worrisome and downright nerve racking.
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