Selling A Business - Common Mistakes

Here is an interesting article about 3 common mistakes business owners make when they sell their company.

I think every seller needs to pay particular attention to mistake #2. " set an asking price that's too high in relation to documented income and then claim the price is right because actual income is higher than reported"

I have to agree with the author that any buyer who is naive enough to believe the seller when the brag about how much extra profit they make "off the books" is likely to be a failure once they buy the business. More likely though is teh chance they have no money to buy a business in the first place.

The lesson here is that you asking price must be justified with facts not promises.

Here's the article, let me know what you think:

Selling A Business - Common Mistakes