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Avoid The Single Biggest Mistake When Selling Your Business

by Tyler Tysdal
February 25th 2021
00:01:54
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Yeah, yeah. Hi again, robert Hirsch here from Freedom Factory. And I want to talk to you today about the single biggest mistake that I see sellers make when selling their business now in business. You know, there's simple and there's complex and I think we all know the Einstein quote about any fool can make it more complex. It takes a real genius to make it simple. And when we go to sell our business, the one thing that I always tell the sellers is simplify. Simplify, simplify. We don't get points in business for degree of difficulty. This isn't the triple lindy and we're not getting judged by the, you know, by the Russian judge. This is really simple. And so when you look at your business and we're presenting it to buyers, we want to make it as approachable as possible. So many businesses develop their own lingo, their own slang. It's very difficult to understand. Well, at Company X, we call it blank. And I said, well why don't we call it what the industry calls it? I said no robert, I'm not sure if you understand our business is different than the 99 other businesses that are similar to ours and so on and so on, etcetera.

So when you're looking at your business, what I want you to do is look at it from the outside in and pretend you're explaining it to your teenage, your teenage son or daughter and explain it in terms so that they can understand it because if they can understand it, the buyers are going to understand it and that's going to be reflected in the valuation. Remember simplify? Simplify. Simplify. And if you need any help with it, just give us a call at Freedom Factory and we'll go through anything you want to. Thanks for watching, please like and subscribe and we'll see you soon.

Avoid The Single Biggest Mistake When Selling Your Business
Avoid The Single Biggest Mistake When Selling Your Business
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