The decision has been made: you are ready for the sales process of your company. An exciting process begins and the number of questions quickly mounts up. How long does it take to sell a business? How much time do you need to spend on it? In my six tips I leave no question unanswered.
1. Prepare as much as possible
Ninety percent of a successful business sale is due to excellent preparation. So get your finances, strategy and digitalization in order. Preparing yourself not only has an impact on success, but also on the duration of the sales process. After all, the sales process proceeds more quickly if everything is well organised at the front. Start with these preparations if you are seriously considering selling your business.
If you inform your personnel in time about the company sale, you will speed up the sales process. Hans Minnaar tells you when the time is right. Read blog about the best time to inform your staff.
2. Take into account the duration
A sales process generally takes six to nine months. Sometimes it happens faster or slower, depending on several factors. If, for example, you are looking for suitable candidates yourself or arrange the paperwork, I notice that the process is often delayed. After all, you also have a company to run, the sale is therefore secondary. At Florijnz your company sale is the main thing.
3. Start at the right time
Timing is everything. For example, know that holiday periods or peak times affect the sales process. You can put your company up for sale in the summer, but chances are that the people making the decisions are enjoying their well-earned holidays at that time. So go along with the cycle in which companies are active. You are after all after their interest.
4. Do business as usual
Don't let the sales process take up all your time. My advice is not to plan your schedule full with this, but to devote about twenty to thirty percent of your time to the sale. For example, don't schedule appointments about the sale every week and make sure that your own work doesn't suffer as a result. That way, your business will be healthy even after the sale process.
5. Allow for peaks and troughs
As a rule, you spend twenty to thirty percent of your time on sales. But you know better than anyone that every process has its peaks and troughs. The start-up and finalisation of the sale takes much more time. Also, the audit is not a day's work, but rather a long-term project. Especially when you have many questions. So adjust your planning accordingly.
6. Take time to reflect
Take a break. Going through a sales process is pretty intensive. That is why I always motivate you to plan moments of reflection. Weigh up and think about the choices you still have to make. That way, at the end of the process, you will be one hundred percent behind your decisions.
Florijnz guides you through the whole sales process and strives for a quick and careful sale of your company. We will be happy to discuss the possibilities with you in an interview.