Key Mistakes Sellers Make - O'Keeffe and O'Malley

Key Mistakes Sellers Make

Feb 26, 2014

A strong exit strategy and working with your advisors will help you avoid these most common mistakes, all which fall under the category of poor planning:

  • Making emotional decisions, rather than market-driven decisions
  • Selling to the first or second buyer to come along
  • Demanding all cash
  • Losing confidentiality
  • Burn-out from trying to run and sell the business simultaneously
  • Selling your business yourself
  • Misunderstanding the buyer’s process or motives
  • Letting business coast
  • Failing to qualify a buyer
  • Inadequate financial statements and other records
  • Lack of a strategic plan for the business
  • Selling the past instead of the future
  • Lack of negotiating experience in dealing with experienced buyers
  • Putting a price on the business
  • Bad timing (market conditions, business cycle, etc.)

A full 80% of self-managed transactions fail to meet the seller’s objectives. Let O’Keeffe and O’Malley guide you through the process for the best possible outcome.