Business Brokers of Lincoln, Nebraska
At Morgan & Westfield, we pride ourselves on providing quality service to the business owners that we work with. In an effort to maintain our high standard of service, our business brokers choose to operate exclusively in the communities that make up this region of Eastern Nebraska. We place a particular emphasis on serving the communities in and around the Lancaster County region of Eastern Nebraska. Some of the specific communities in this region that we serve include:
Lincoln, Arbor, Malcolm Prairie Home, Raymond, Ceresco, Valparaiso, Loma, Dwight, Brainard, Weston, Wahoo, Ithaca, Mead, Wann, Memphis, Gretna, Chalco, Richfield, Springfield, Louisville, Cedar Creek, South Bend, Greenwood, Murdock, Alvo, Eagle, Elmwood, Weeping Water, Avoca, Bennet, Palmyra, Unadilla, Syracuse, Douglas, Burr, Sterling, Adams, Cortland, Clatonia, Wilber, Firth, Hallam, Kramer, Hickman, Roca, Martell, Sprague, Crete, Denton, Emerald, Ulysses, Bee, Staplehurst, Garland, Seward, Utica, Beaver Crossing, Friend, Pleasant Dale, Cordova, Milford and Dorchester.
By focusing exclusively on our local communities, we have been able to build and maintain a deep connection to this marketplace. We understand how to effectively value, market and ultimately sell businesses throughout this region. We also understand the unique challenges of selling a business here and how to overcome them.
Through our business brokers’ hundreds of years of combined experience in facilitating sales in this part of Nebraska, we have also established connections with countless local industry professionals. These people can provide you with invaluable assistance and advice based on current market dynamics as you go through the sales process.
Preventing Common Mistakes
At the Lincoln, Nebraska, office of Morgan & Westfield, our business brokers provide a variety of services that are designed to make it easier for you to sell your business. Our services include everything from planning your sale, to valuing your company, to screening buyers, to facilitating the closing process, and everything in between.
One of the most important services that we provide is guidance. When our business brokers guide you through the sales process, we do more than just provide advice, answer your questions and make sure that your sale is progressing smoothly. We also teach you about the sales process and help you prevent the common mistakes that inexperienced sellers often make. These mistakes often come from the fact that most business owners have never sold a business before. This inexperience leads to inadvertent mistakes. While these mistakes may be completely accidental and innocent, they can also be extremely damaging to your business’s value and make the sales process far more challenging. At Morgan & Westfield, we utilize our expertise to prevent common mistakes before they even occur. Some of the common mistakes that inexperienced sellers make include:
- Failing to plan your sale: Business sales can be extremely complex. There are countless factors that can impact your sale and countless details to adjust for. Because of the complexity of the sales process, it is vital that you have a clear sales strategy before you begin. Failure to plan your sale in this way will make it far more difficult to sell your business.
- Failing to prepare for your sale: It is always best to prepare yourself and your business for the sale before you enter the sales process. By preparing yourself for the sale, you will be more invested in the process. And by preparing your business to be sold, you will give buyers the impression that you are taking the sale of your business seriously.
- An unwillingness to negotiate: Oftentimes business owners believe that because their business is valued at a certain price, that is what potential buyers will offer. This is not normally the case though. Buyers will usually make a low initial offer because they expect to negotiate with you. Expecting to receive your full asking price upfront from buyers without negotiating is a recipe for an unsuccessful sale.
- Taking negotiations personally: Sometimes the negotiation process can become contentious. Both you and your buyer have a lot at stake, and this can cause you to make emotional decisions. You must be careful to avoid taking any aspect of the sales process personally and make emotional decisions as a result.
- An inability to understand the dynamic nature of business values: Because there are countless variables that can impact your business’s value, it is important that you understand that business values are dynamic. The value of your business right now may be different from the value of your business six months ago. So it is important that you understand the factors that can impact your company’s value and view it with some level of flexibility.
- An inability to maintain a discreet sale: When you sell your business it is imperative that you do so as discreetly as possible. Your suppliers, customers, competitors and even your employees should not be made aware of your sale until it has been closed. And anyone with knowledge of your sale must sign a non-disclosure agreement. Failure to take these precautions can result in information leaks that will damage your business’s reputation and market value.
- Failure to continue running your business: When a buyer is considering purchasing your business, they want to know that it represents a viable investment. The best way for them to be assured of this is by seeing your business continuing to run and being profitable. By running your business normally, you will also increase your company’s value and prevent anyone from becoming suspicious about your sale. It is far easier to sell a business that is currently operating than it is to sell a business that is not operating normally or is being neglected.
Selling Your Business with Morgan & Westfield
If you are a business owner in the Eastern Nebraska area and you are considering selling your business, then our business brokers at the Lincoln, Nebraska, office of Morgan & Westfield are here to help. The services that we provide, coupled with our extensive knowledge of this marketplace and the sales process, make our business brokers uniquely capable of facilitating the sale of any business in this region. If you are interested in learning more about our services and how our business brokers can facilitate the successful sale of your business, contact the Lincoln, Nebraska, office of Morgan & Westfield today.