Avoiding Costly Mistakes When Selling Your Operation

Trent Lee is a contributing writer on SellYourWay.org. Mr. Lee is widely recognized at the Number 1 business broker in the United States as ranked by the International Business Brokers Association. In his article, "How to Avoid Costly Mistakes When Selling Your Business," he outlines what smart sellers do to get their deals done on time and at a good price. You can read his full article here. Below is a summary of his observations:

• Patience pays. Rushing kills deals. Rushing results in lower offers and fewer serious buyers.

• Speed comes from preparation - clean financials, SOPs in order, fixing legal and tax issues, and knowing what the market will pay for your operation.

• Don't be impatient; real buyers need time to vet their deals with trusted advisors.

• Don't just focus on price. Focus on price and terms. Deal structure is where the real money is made (or lost).