Selling your business is an arduous and very demanding task; it is time consuming, stressful and often emotionally draining. Naturally the sale will dominate the owners thoughts and resources during this period and it is very easy for an owner to take their eye of the ball.
Founders should build an exit strategy in their initial business plans, and this strategy should contain information on how the business will be advertised and marketed when the time has come for it to be sold.
Owners who haven't been through the process of selling a product before often underestimate how important it is to market, and package their business so that it appears attractive to potential buyers.
Like all things pre-sale, the marketing has to be thoroughly planned and executed flawlessly. The goal of the marketing phase is to drum up enough interest among qualified and motivated buyers to increase the odds of you company being sold for a premium. While many owners, business brokers and intermediaries will testify this is easier said than done.
When attempting to market your business the first place you need to start as an owner is the own market or business. You will know your market better than any business broker or intermediary, and as a result you will know which individuals, companies or organizations will deem your company to be an attractive proposition.