46 Myths About Selling A Business

We’ve compiled a list of the most commonly held myths that business owners have, when it comes to selling a business. We’ve written much greater detail on each myth, which you can read by clicking the links to each.


Myth 1 - Confidentiality is Not Important In The Sales Process


Myth 2 - Deals Are All About The Price


Myth 3 - Due Diligence is a Huge Daunting Process


Myth 4 - I Can Sell The Business Myself


Myth 5 - I Don’t Have To Give A Reason For Selling


Myth 6 - I’ll Sell When I’m Ready


Myth 7 - I Don’t Need A Management Team


Myth 8 - A Business Broker Is My Only Option


Myth 9 - A Buyer Will Come In And Change Everything


Myth 10 - A Buyer Might Asset Strip My Business


Myth 11 - A Share Sale Will Remove My Liability


Myth 12 - Business Broker Valuations Are Reliable


Myth 13 - I Should Wait For A Buyer To Approach Me


Myth 14 - I Want To Sell But The Process Takes Too Long


Myth 15 - I’ll Get Paid In Cash At Closing


Myth 16 - I’ll Have To Leave The Company After It’s Sold


Myth 17 - I’ll Receive The Asking Price


Myth 18 - If They Don’t Ask, I Don’t Need To Tell Them


Myth 19 - It Doesn’t Matter If People Know I’m Selling


Myth 20 - It’s a Sellers Market, I’ll Have No Problem Finding A Buyer


Myth 21 - It’s Not The Right Time To Sell


Myth 22 - Lender Finance Is Not Based On My Company Performance


Myth 23 - Lenders Aren’t Lending, It’s Impossible


Myth 24 - Marketing The Business To Every Prospective Buyer Is The Same


Myth 25 - My Business Is Different To Those That Aren’t Selling


Myth 26 - My Business Is Worth A Multiple Of Profit


Myth 27 - My Business Is Worth A Multiple Of Turnover


Myth 28 - My Business Is Worth At Least A 10x Multiple


Myth 29 - My Business Is Worth Millions


Myth 30 - My Business Will Sell In A Few Weeks


Myth 31 - My Current Advisers Will Help Me


Myth 32 - My Family Will Continue Running It


Myth 33 - One Of My Competitors Will Buy My Business


Myth 34 - Our Staff Will Lose Their Jobs


Myth 35 - Public Company Valuations Are Relevant To My Business


Myth 36 - Reducing My Salary Increases The Business Valuation


Myth 37 - Running The Business Prepares You For Selling


Myth 38 - Selling Is About Getting Exactly What I Want


Myth 39 - Selling Will Be An Unemotional Experience


Myth 40 - The Business Is Ready To Sell


Myth 41 - The Buyers Financing Is Not My Problem


Myth 42 - There Will Always Be A Buyer For My Business


Myth 43 - They Don’t Know How To Run MY Business


Myth 44 - Valuation Is Based On Opportunity Potential


Myth 45 - We’ll Lose Our Brand


Myth 46 - We Won’t Get Our Final Payments



Remember, if you want to read more in depth about each myth, click the link, and we’ll explain exactly why it’s a myth, but more importantly, how you can benefit from understanding, WHY it’s a myth.

We hope you’ve received some value from this article, and some information that you can use to move forward toward your vision.

If you’re confident that selling your business is the way to go, or perhaps you’re undecided, it’s important to consider the significant amount of effort and resource you’ll need to make it happen.  It’s a full time job. - The time investment alone is enough to put anyone off.  So imagine for just a minute, that you didn’t need to do all of this work.  What if this could be done over the next 3 - 5 years (by someone else).  Everything we’ve listed in this article, is what you’d need to do, if you were selling through a business broker, or direct to a buyer.


Unlike other private equity firms, our focus is on growing businesses at the smaller end of the market.  We’ve worked in, and grown our own businesses in the exact same fields you work today.  We’ve spent years coaching and supporting small businesses just like yours, developing their teams, and helping them to grow, but now, we’d like to help you.  


We have a solution for business owners that need to sell their business immediately, or for those who want to stick around for a few years.

If you’re considering the options to grow or sell over the next five years, read more about how we're helping others just like you. Click here to read about our unique approach to helping you get what you want with the YokeFormula™ for your business.

Click here to learn more about the YokeFormula™ for Property Service Companies

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Click here to learn more about the YokeFormula™ for Hospitality Companies

Click here to learn more about the YokeFormula™ for Healthcare Companies


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