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Avoiding Common Pitfalls When Selling a Business Lessons from a CEO

Business sales can of course be an elaborate affair, with the process being similar regardless of the type or size of the business. Having gone through the experience of being a CEO I can attest to the fact that when the appropriate steps are taken there are shades of difference between the outcome you get. Here are some key pitfalls to avoid when you Sell your business in the UAE.

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Avoiding Common Pitfalls When Selling a Business Lessons from a CEO

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  1. Avoiding Common Pitfalls When Selling a Business: Lessons from a CEO Business sales can of course be an elaborate affair, with the process being similar regardless of the type or size of the business. Having gone through the experience of being a CEO I can attest to the fact that when the appropriate steps are taken there are shades of difference between the outcome you get. Here are some key pitfalls to avoid when you Sell your business in the UAE. 1. Not Understanding Your Business’s Value One of the easily forgivable mistakes is unwillingness or inability to set the right price for one’s business upon its sale. A factor that discourages buying process is over valuation, and losses are caused by undervaluation. When setting the price, make sure to have it real for the market, a good revenue, and real growth. Pricing the business through an outside professional valuator can bring in suitable buyers. 2. Poor Timing The best time that can be proposed for listing a business for sale is in good economic times. Marketing during certain times or during conflicts in a specific industry can lower offers. For new firm segments such as e-commerce or the UAE tourism industry, waiting for peak demand can add value. The ability to time the sale, when the market is particularly interested, ensures that there is the best deal given to the counterpart. 3. Incomplete Documentation

  2. Their data reveal that many sellers take properties to the market without a basic balance sheet, contract or legal paperwork. Delayed or, in some cases, non-availability of paperwork detriments to the sale-making process by turning away a client. When you Sell your business in the UAE, especially if it’s a small business, ensure you have detailed financial statements and other critical documents ready to present to potential buyers. 4. Overlooking Online Marketplaces It is mandatory in the current trend of globalization to establish online sites through which sellers can easily hook up with the buyers. Bidzi, and other similar business marketplaces of UAE also ease the sellers’ way to find appropriate buyers; platforms like Dubizzle and Business Finder UAE contain big databases. 5. Ignoring the Buyer’s Perspective Advertising nowadays is crucial in the business world at large to ensure successful linking of sellers with the prospective buyers. Some of the most popular UAE based platforms include Bidzi, a leading UAE business marketplace platform, Dubizzle and Business Finder UAE, these platforms provide large databases and ways to quickly find appropriate buyers and engage in the trade. By avoiding these common mistakes, you can successfully Sell your business in the UAE and maximize its value.

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