By: Diana L Miles, ABI
Perfect businesses have buyers looking the other way, and here’s why:
- If no flaws are evident, the naturally skeptical buyer will become even more skeptical. Buyers value authenticity and are looking for truth, not complete perfection.
- If the business owner is running at maximum capacity with no room for improvement, the prospective buyer realizes that, at their best, he/she will simply maintain what you’ve built.
- Buyers typically want to take an existing business to the next level and are seeking weaknesses they can improve upon or opportunities they can devote attention to.
Wear an objective lens when your intermediary is working with you on your SWOT analysis prior to taking your business to market. Realistically and truthfully name those weaknesses and threats so that you can derive suggestions for the prospective buyer who will meet with you.