Some company owners think personality does not matter, but it can in many instances, including when selling a Dallas business. Yes, money talks with business deals, but exhibiting kindness, patience, and honesty can make a big difference for all those involved in the selling process. Adhering to specific tips can decrease the chances of a frictionless sale, allowing you to encounter as little stress as possible.
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Don’t expect answers day and night
Unless agreed upon in advance, paying somebody for their services typically does not mean they are at your beck and call day and night, including professionals ranging from your business broker to your accountant. Behind every professional job title is a human who needs uninterrupted sleep, personal time, and moments with loved ones.
As much as you want answers at any hour, giving the people you hire some room to breathe could lead them to work better for you. For example, someone who sleeps through the night has an increased chance of thinking more clearly, which, in turn, can help them provide better services to you.
Return correspondence quickly
During your waking hours, you will want to keep your phone close in case your business broker or another professional you are working with has any urgent questions. The professional helping you sell your business can only make specific moves and decisions with your consent, so the sooner you get back to them, the faster the process will move along.
Take initiative
Although you should trust the professionals you hire to sell your business, there are also some things you can do on your end. For example, you can update the business financial paperwork or hire a professional commercial cleaner to ensure your space looks as photo-worthy as possible. However, you want to do something with your broker, saying it is a good idea.
Many business deals are fragile, so you want to avoid doing something that could put it at risk. Write a list of tasks you want to do as soon as possible and run it by your business broker first.
Be patient
The process of selling your Dallas business may include setbacks along the way, delays, frustrations with having to provide information repeatedly, and various other instances that could test your patience.
It can be easy to want to rush the selling process to get it done, but trying to force things will not do you any good. When you are patient and give things time to unfold, it helps take the stress off everyone involved and allows them to have the time to do things correctly. It is a much better option than rushing and later realizing it resulted in numerous problems.
Don’t lie in any way
You know not to lie on paperwork, but verbally lying is also not a good idea, especially if you speak to someone involved in selling your Dallas business who believes a person’s word is gold. Do not lie outright or by omission for any reason, including to make your business appear more successful than it is at the present moment.
Get caught in the lie, and chances are the person you lied to will never look at you the same way again, including your business broker, a potential buyer, your accountant, or anyone who is supposed to trust your word regarding what you tell them about your company.
Limit contact
Constantly contacting individuals involved in your business sale will likely have a different effect than you think it will. They might perceive it as intrusive when you see just checking in on things. The more you stress out the people who are supposed to assist you, the less likely they might be to help you expeditiously.
Don’t value your business without up-to-date proof
Never give someone a value of your business if you do not have up-to-date proof to back up what you are saying. Your best source of information is a current business valuation, not one from a quarter or year ago.
Only give people an estimate of how much you think the business is worth. You can either explain you will get them up-to-date information as soon as possible and/or get their contact info and give it to your business broker, like those at IBEX Middle Market Business Brokers, so that they can handle the questions if you provide a verbal estimated value, even if it is lower than what the business valuation states, it could be perceived as a mistruth.
The last thing you need on top of an already stressful process is to accidentally jeopardize negotiations and/or the sale of your Dallas business. Take a step back and pause if you need to so you can make the right decisions. You may be surprised how exhibiting positive traits could lead to a more favorable business deal.
