Published Date: 23-Feb-2018
Tim Counihan BFS MBS– Director CIEX
The three rules of selling are How, Who and Where. Those of us who are self-employed know the How piece is the basis of all successful sales campaigns, for convenience let’s call all selling or buying activity sales because there must be one of each for the deal to close. How do I present the offer/service, how do I engage the market, how do I find the right market group, how do I maximise the return, how do I set the price? Some of these questions are answered by tradition, industry margins, pricing structures or existing routes to market, some you must learn.
But when selling your business however you can only do it once so there is no personal experience and no established structures, meaning that after perhaps a long successful career in selling the HOW is suddenly an unknown.
This means WHO is what needs to occupy the business persons thoughts. Who can I go to for advice (and given where this article originates let us tell you now it is not CIEX)? The answer is your accountant or an accountancy firm with specific experience in buying and selling businesses on behalf of Clients. CIEX believes that specialist accountants like anyone who works in specific areas of business have the experience and the knowledge to be the best choice as advisor, representative and deal maker. The huge benefit is that they represent you, are on your side and have a duty of care to you. They are not brokers they should always seek the best deal for you not just seek to close the deal. This means you have comfort discussing your needs in confidentiality in a professional setting with people who know your business.
With the WHO settled the WHERE becomes an issue, up to now even through their best efforts the largest Accountancy firms only have access to a percentage of the marketplace of interested buyers. This is where CIEX saw the need to provide a confidential marketplace where buyers and sellers could show their interest in buying or selling businesses to the widest possible interested audience without exposing their identity. CIEX created the marketplace to allow all accountancy practices who offered Corporate Finance or Deal Team services access to a single platform where they could interact in full anonymity.
CIEX does not Broker, advise or value it simply provides a dedicated anonymous marketplace with 24/7 access to interested parties across the world.
Talk to your accountant today about your plans for growth or exit and ask them about their capacity to access the marketplace for you. #TalkToYourAccountants. WWW.CIEXGLOBAL.COM
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