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Are You Underestimating the Time and Effort Required to Sell Your Online Business Yourself?

Posted by Andrew Castaldy in Articles

You’ve begun to see positive numbers in your company and have stable and profitable growth over time. This can be a clear sign that it’s time to list your company for sale.

If you attempt to undertake this process on your own, however, you could find yourself facing many different challenges and it might end up being too late for you to take the appropriate action steps to correct them. Far too many business owners who try to handle the sale on their own underestimate the time and effort that is truly required to accomplish a sale of a business online.

Resources, time and effort are all must be expended in order to sell an online business successfully. Trying to sell your business and run it at the same time might seem like a monumental task and it is one of the leading reasons that some people who list their company for sale too quickly without doing their homework or hiring a business broker don’t achieve the sale price they were looking for.

These challenges occur because owners fail to account for the amount of time required to dedicate to the sale, which means that dips in performance could occur that could impact your business valuation or the way that outside prospective buyers view the company. Juggling business operations along with the sale demands could be serious recipe for disaster; sometimes ending with a suffering business and a failed exit.

The average life cycle for a sale might be as short as a couple of months, depending who you hire as your online business broker. This covers the various aspects of selling the company like valuation, listing, preparation, soliciting interest from potential buyers, managing inquiries, negotiating the terms of the deal in contract, pulling together the legal documents to sell your online business, transferring the assets of the business and closing an escrow.

This also assumes that no other issues or obstacles pop up during the process of sale. It is very rare for an online business sale to proceed without any hiccups. This means that if you are already quagmired by managing the operations of your business and then decide to take selling your company on by yourself, you might have to answer dozens or even hundreds of questions from prospective buyers.

You will have to carve out time in your schedule to be available for conference calls and this means you’ll also need to leverage evaluating contracts and negotiating deal terms. All of this can take time and could require as many as several weeks or even months to wade through. This is why exit planning as well hiring an experienced and knowledgeable business broker are strongly recommended.

The support of a business broker removes many of these problems from your individual plate and helps you to bring in an experienced professional to help you navigate these challenging situations. You deserve to have someone at your side who can help you with these obstacles and take as much of the work as possible off of your individual plate. The challenges of running an online business, much less selling it, can be overwhelming for a person who is confused about what all is required. Don’t find this lesson out too late, instead hire a business broker now.