Business Basics With Alex Grossman

In today’s episode, we are joined by Alex Grossman, who is an expert in selling different types of businesses. Alex shares common reasons why people decide to sell their businesses and how some business owners make bad decisions because of emotional attachment. We discuss what is a business evaluation, why it is important, what should be included in the evaluation, and how some business owners might be disappointed by the final evaluation. Tune in to learn more about different ways to sell a business, which is the best one, and how you can find potential buyers.

IN THIS EPISODE:

• [04:55] Good and not-so-good reasons to sell a business.
• [13:16] How to value a business before selling?
• [15:58] What are intangible assets and why are they important when selling a business?
• [25:52] Ways to sell a business.
• [33:23] How to find buyers when selling a business?

KEY TAKEAWAYS:

• The worst time to sell a business is when it’s not making money.
• The hardest thing about selling a business is evaluation because there are so many factors that need to be considered. For example, revenue sales, type of business, tangible and intangible assets, competitive analysis, and so much more.
• One of the easiest ways to sell a business and find potential buyers is to do it online. But other options are to do it locally, hire a broker or ask your attorney.

LINKS MENTIONED:

LinkedIn – https://www.linkedin.com/in/alexgrossmanla/