Deciding to sell a company and actually being able to sell it are different things. Here are some valuable tips that will help if you are listing your business for sale in Malaysia.
Buyers Look for Results than Potential
‘Our company is based on the latest innovations, so it will grow in the coming days.’ You can say that to attract buyers, but they are looking for something along the lines of ‘we are already making a viable profit from our business idea.’ So, the first thing to know is that potential buyers will want to understand more about your achievements more than promises.
Profit is More Important than Revenue
You may have a lot of revenue, but not a good profit. Thus, it may be difficult for you to sell the company if a lot of finances cycle in and out, but you still are unable to make a good income.
You will Need to Answer a lot of questions.
Be prepared for that.
The buyer will throw around a lot of questions like what the business does, what makes it unique from others and what goals you want to accomplish with it.
They may also try to negotiate the price, and you will need to come up with a good appraisal that verifies every penny you have set for your company.
The buying party will also do their research; mostly, they will check your relationship with your customers.
BE HONEST- buyers will most probably try to cross-check your answers. Any conflicting claims for two questions will make them unsure of you.
You Need Verified Financial Claims and Licenses
Invoices, bills, tax papers, and official audits will play an essential role in deciding if the buyer will purchase your company.
Also, don’t forget to ensure that you have all the licenses and your company doesn’t have other legal issues.
Final Tip: You see, you can list your business for sale, but it doesn’t guarantee that you will actually sell it. Furthermore, there will be a lot of pressure for you to find a customer and make a sale; in some situations, you may not get enough time to conduct your core business activities, and that may decrease your sales numbers. Thus, working with a broker or a business advisor is going to be extremely helpful for you.