| − | The greatest joy a leader can experience is to watch someone who has been beaten down, stuck in a mental cubicle their whole life, not knowing what they are capable of, and then to watch them overcome whatever gets in their way and free the champion that has always been inside. Once you have witnessed this transformation you will realize, that this is what this business is all about!<br><br>A business sale or [http://fundmyexit.com/exit-strategy/index.html exit strategy] not only means having a plan for the eventual sale of your business but it must also include the unexpected - including economic hardship, injury, disability and even death - it also means having a plan for the succession or transfer of ownership of your business when it comes time to retire.<br><br>In fact, working with foreign companies is a big challenge, because one, it could be a language issue. When I say language, it's not only a foreign language, but body language and how people think as well.<br><br>Thou shall prepare my business for sale. Engage a professional CPA firm to do your books. Buyers fear risk. Audited or reviewed financial statements reduced the perception of risk. If you find that a large percentage of your business comes from a very few customers, embark on a program immediately to reduced customer concentration. Start to delegate management activities immediately and identify successors internally. Analyze and identify the growth opportunities that are available to your business and capture that in a growth plan document.<br><br>Best selling business author, Stephen Covey, says, "Most people think that leadership is a position. It's not." Leadership isn't bestowed with formal authority; rather it is conferred by followers. It's natural to assume that you're in the leadership role because you run the place, however, the truth is without committed followers, you are blowing your own horn and leading a parade of one.<br><br>A good alternative to interacting with brokers before you are ready is to build those relationships with credible, knowledgeable and neutral sources before you buy. This way, before you enter the buying process, you are further down the road and less dependent on the need for more time incumbent in leveraging all the points being discussed here. The precious metals industry; gold brokers on straight commission; and men in general, work against your desire to build a relationship in this business before doing any business. I wouldn't even worry about that. Instead, get the same or better information from insiders who do not sell precious metals...whose only interest is in credible education for you as the client.<br><br>Where can I 'list my business?" You could put it on one of the online business listing services that seems like a good place. But how do you qualify the prospective buyers, are they competitors fishing for information? How do you run your business everyday and sort out the tire-kickers from those with real financial resources? When will you show the business to prospective buyers? How do you know what it is worth? It can be a daunting task.<br><br>Avoid answering a question with a question. Again, contrary to conventional sales training wisdom, never answer a question with a question. This tactic is usually perceived by the prospect as evasive. For example, if your buyer asks, "How soon can you ship?" do not respond, "When do you need it?" This strategy diminishes your credibility. Simply tell him your average shipping time, and ask if that works for him. If it doesn't, go to bat for him, and if possible, get it for him when he wants it.<br><br>"Tim, when you give a sales presentation to a prospect, are you nice to them?" Do you give them the most important commodity you have, your time? Do you educate them? Do you give them the benefit of your experience?" My answers to all of his questions were yes. So Larry explained, "Here is what is happening. You are building a psychological debt with these people, essentially they owe you something and they don't want to owe you especially if they have no intentions of buying so they want the debt paid before you leave. So they pay off this emotional or psychological debt with a compliment. Here's the key, once you accept their compliment, the debt is paid." Thus, no guilt in not buying from you.
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