Is selling a business like selling a house?

In some ways it is. Or at least the preparation is. When you are selling your business you need to think about how it will look to someone else and make sure that they can see your vision and value.

If you’re going to sell your house you’ll probably do these things:

  • Spruce up the curb appeal
  • Get rid of the clutter
  • Do the dishes before a showing
  • Get rid of the wild colors and go neutral
  • Depersonalize

If you’re going to sell your business you’ll do similar things:

  • Get your books in order so they make sense to someone else
  • Get your business documents together
  • Get your client contracts together
  • Prepare documents that describe your business
  • Close up dead beat accounts
  • and more…

The point is that a potential buyers has to be able to visual themselves making a profit while taking on the debt of purchasing your business. Anything you can do to help paint that vision for them will help sell your business.

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