You invested your time Custom Philadelphia Eagles Jerseys , effort, and financial resources into your retail store. You chalked up countless long days and frustrations as the sweat equity that was necessary to realize your dream of being an entrepreneur. You had hoped to one day sell your business and retire in relative comfort. That day has finally arrived.
Millions of independent retailers have discovered that selling their businesses is more complex than it seems. There are numerous pitfalls along the way. Some of them can have a significant influence on the sale price, causing you to leave tens of thousands of dollars on the table.
In this article Throwback Philadelphia Eagles Jerseys , I'll provide a short list of common mistakes to avoid when going through the process of selling your retail store. Some may seem like common sense while others might surprise you. It's worth noting that all of them have ensnared savvy entrepreneurs.
#1 - Choosing The Wrong Consultant
While you can sell your company on your own, there are many advantages to hiring a consultant to help with the process. That person will work closely with you to find high-quality leads who are serious about buying your shop at a reasonable price. The problem is that a lot of business owners are approached by brokers or consultants who make aggressive promises. The owner hires the first person he or she meets only to discover that person is unqualified for the task.
Interview several consultants before choosing the person who best meets your needs. Ideally, that person should have a strong background in retail and understand what it takes to produce qualified leads.
#2 - Leaving The Marketing To Others
Selling your retail business requires letting the right people know you'll consider serious offers. You'll need to take a proactive approach to promote the sale. Your consultant or broker will generate leads Authentic Philadelphia Eagles Jerseys , but it's a mistake to leave the entire task of marketing the sale to that person. He or she does not know your business nearly as well as you do. And while they'll toil relentlessly to produce potential buyers, they cannot match your enthusiasm and passion.
Call people within your professional network and let them know that you're selling your store. Offer them a finder's fee if a prospective buyer they send your way end up purchasing your business.
#3 - Not Setting A Realistic Price
Few things are more important when selling your specialty retail shop than setting a realistic price. If you set it too high, you won't attract prospective buyers. If you set it too low Philadelphia Eagles Jerseys For Sale , you'll leave money on the table. Many entrepreneurs seem to pull a number from the air and set it to a price tag. They do a disservice to themselves.
Research your market to identify the prices being asked for similar companies. You'll also want to consider the state of the economy and your monthly profits.
#4 - Jumping At A Poor Offer
When someone makes an attractive offer, it's tempting to accept it. But, all offers are unique in their structure. Some are an outright sale in which you receive the negotiated price immediately. Others work on a tiered structure in which you receive payments each month for a defined period during which the new owner operates the business.
The latter case is risky Cheap Philadelphia Eagles Jerseys , especially if the new owner has little experience in operating a small retail shop. If he or she runs it into the ground, it's unlikely you'll receive the monthly payments. You might be able to resume ownership of your shop, but it may be to late to resuscitate it.
An experienced consultant will help you sift through offers based on their individual merits. Take advantage of the advice. With persistence Clayton Thorson Eagles Jersey , patience, and the willingness to promote the sale, you'll eventually find an offer that meets your needs. We'll start the engines today by looking at a popular scripture the book of Luke 6:38
Give and it will be given to you: good measure Shareef Miller Eagles Jersey , pressed down, shaken together, and running over will be put into your bosom. For with the same measure that you use JJ Arcega-Whiteside Eagles Jersey , it will be measured back to you." NKJ
Please take these 2 prayer points with fire in your spirit:
? I retrieve all my properties from satanic banks in the name of Jesus
? O Lord restore seven-fold everything I have lost as a result of spiritual ignorance.
The Bishop and the Vision
I know a bishop who wanted to build a 50,000 seat worship hall in 1999. The unusual thing about it was? he expected to do it from start to finish without borrowing a dime from anyone? not even from the bank.
He also set a target of 12 months for completion.
Now this kind of project had never before been undertaken by anyone in his part of the world. So everyone watched with interest? expecting him to fail.
Well he did not just succeed? he succeeded brilliantly.
The entire project, which took the size of 4 football fields Miles Sanders Eagles Jersey , was completed in 11 months ? one month ahead of schedule!
And this happened in a place, a geography where as much as 90% of the people were living far below the poverty line.
He has since made further progress and established a full-fledged university there.
Such ?impossible? feats excite me? so I decided to dig a little into the background of this bishop to learn how he did it.
Here's a few of the interesting facts I uncovered:
? This man of God is a chronic, incurable giver. He has been that way for 30 years. There's a story of how he gave away the only money his wife had reserved to buy baby food for their 6-month-old infant? to a church member who had an urgent financial need!
? Half of that time (30 years) he and his family were living in abject poverty? and he kept right on giving.