A few years ago I put out a video on YouTube about a guy who sold his business for more than I thought he could by offering financing terms to a buyer that were better than the bank’s. Watch that video here: https://youtu.be/rkdB8eLl6Xw
Just this week I had the opportunity to coach a seller along the same lines. In fact, it worked out so well that his words to me were, ‘the money I’ve invested with you is the best money I’ve spent in my entire life.’
Those were very kind words.
Watch the story of the negotiation here: https://youtu.be/iqo5EngtGa8
This seller was properly prepared and he and his spouse were going to be able to benefit from tax-free gains because they were doing a share sale of their business.
He had come to me for advice on the negotiation and I showed him a way to get the buyer to agree to a price that was $250,000 higher than what they had previously agreed to by offering to change the terms of payment.
Having the correct advisors working with you in a complex transaction like this is worth every penny. When it comes time for you to buy or sell a business, give me a call for help.
If you want to learn more about how I help business owners sell their own business and avoid paying a commission, check out www.HowToSellMyOwnBusiness.com
There are plenty of FREE resources there to help you begin planning your transition out of your business.
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Do you live in Toronto? I’ve got three workshops coming up for Toronto in September. Book now to get summer special ticket pricing. http://davidbarnett.eventbrite.ca Some sessions have fewer than 20 seats left.
Thanks and I’ll see you next time.