More In This Category
View Transcript
00:04
if i have a client who is selling their
00:06
business i try to explain to them
00:07
you need to convey to a potential buyer
00:11
that you really believe in the business
00:12
that you’re selling
00:13
but you have to also let a potential
00:15
buyer think
00:16
that they can do a better job growing
00:19
your business than you did
00:20
when you were running it that’s a tricky
00:22
little balance to strike
00:24
where you want to you know explain that
00:28
yes this great thing that you’ve built
00:30
is worth the price that you want to get
00:31
for it you need to talk about how
00:33
you’ve accomplished all these different
00:35
things and you have all these great
00:36
clients and you have all these great
00:37
employees or whatever you have
00:39
a great product but you also need to let
00:41
a potential buyer know
00:43
in subtle ways that there’s a real
00:45
opportunity to grow it into so much more
00:47
and
00:48
maybe you can’t because you don’t have
00:49
the resources or maybe you can’t because
00:50
you don’t have the time or
00:52
you’re ready to move on but any buyer
00:54
looking to buy a business
00:56
is usually looking to do so because they
00:58
want
00:59
they see an opportunity to turn their
01:02
investment into something much greater
01:03
most people aren’t looking for a job to
01:06
have for the next 20 years
01:08
usually they’re looking to take what
01:09
you’ve built and grow so you need to
01:11
give them some reason to think that they
01:13
can
01:13
build upon what you’ve already built
Chicago, IL business lawyer Steven Schroeder shares his approach in handling the sale or expansion of a business for his clients.