Quite often many business owners take it upon themselves to handle the selling process. This can lead to the business not only being undervalued, but can also bring a host of problems with it, such as overlooked legislation processes and procedures, unscrupulous acquirers, and more stress than what it is worth.
Hiring the right company to handle the selling of your business may just be the best thing to consider. Especially, considering this is your baby – the company that you have built up from scratch, seen through the ups and downs and now are celebrating the success thereof. While you may be a success in your particular business field, it is important to leave the selling of it to other professionals.
When asked what advice he has for entrepreneurs looking to sell their business, Richard Pople, MD of Xigo, number one ranked sell-side advisor in Africa, says that access to many subscription databases worldwide is required when selling a business – this will ensure choice to the seller and competition among the prospective acquirers.
“By using sophisticated platforms, first-stage profiling of likely buyers can be conducted using a myriad of tools, from well-known databases, to more localised sources, such as trade associations and reports. Software tools allow more efficient sorting and sifting of all this date to distil down to a list of some 200 prospective acquirers per seller, built around a defined research brief.”
This is what makes Xigo so unique, in that it has built and maintained a huge database of knowledge that reflects the growth appetite of many tens of thousands worldwide.
“This customised database is used to track and record all past interactions globally with CEOs and acquisition directors, so a mapped history of conversations is available to be viewed, which allows more meaningful discussions to take place so as not to waste valuable time,” says Pople. “The information gathered from these discussions over many years has been put into a proprietary database to create a rich source of information for research executives to use and potentially match to acquisition opportunities”
While entrepreneurs, by very nature, often take it upon themselves to get things done, the selling of a business should be left to the professionals. With access to technologies, such as Xigo’s database, professionals can very smoothly handle the selling of your company, find the right acquirers, create competitions and sell your business without the hassle of engaging in the process yourself.