Raise your hand if negotiating with potential buyers is a whole new level of stress.
By: A Staff Writer
Updated on: Oct 21, 2024
Raise your hand if those sales negotiations have you wishing for a poker face and a team of lawyers 🙋♀️🙋♂️ It’s not just about the price – terms, structure, and the future of your business are on the table.
Negotiations can make or break your ideal exit.
It’s easy to feel at a disadvantage, especially against larger buyers.
Do This, Instead:
- Prepare, prepare, prepare: Know your walk-away point, ideal terms, and counterarguments.
- Don’t rush: Take time to consider offers; sleeping on it can create clarity.
- Get legal advice: Ensure contracts protect your interests and reflect the negotiated agreements.
- It’s not personal (mostly): Negotiations are business; try to separate emotions from the deal.
What was your biggest negotiation challenge when selling your business?
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