Business Sales: Your Prospective Purchaser is not Evel Knievel
Evel Knievel amazed the world with death-defying motorcycle feats. He attempted jumps over the fountains of Caesar’s Palace, a pool of sharks and the 1,400 foot Snake River Canyon. Knievel’s crash in his New Year’s Eve Caesar’s effort resulted in a 29 day coma. He reportedly broke more than 430 bones over his career.
Evel said, I did everything by the seat of my pants. That's why I got hurt so much." "I thought I was bulletproof or Superman there for a while.”
Many times business owners act as if they expect a buyer to accept their word on the strength and worth of their businesses and make a leap of faith - like Evel - flying by the seat of their pants. That seldom happens!
Owners should always be building their cases for value. That means understanding, systematically building, documenting and tracking key metrics. These enhance focus and performance.
Purchasers leave "dare-deviling" to others. Demonstrating how risk is controlled can address concerns of buyers, thereby maximizing value.
If you are grooming a business for increased value or sale, I’d be glad to help. That’s far better than waiting for Evel Knievel to appear. Having been down that path, I can be objective and can help capture full value.
Give me a call.
John R. Bise
Accredited Valuation Analyst