Business Sale Advisory: De-personalizing Your Business for Buyers

This advisory content from First Choice Business Brokers focuses on a critical aspect of selling a business: de-personalization. It highlights how sellers often inadvertently make their business too dependent on their personal identity, which can deter potential buyers. The article uses a restaurant example where menu items were named after owners, causing issues for a new buyer. It advises sellers to view their business through a buyer's eyes, remove personal items, and make strategic changes (like menu updates) to ensure the business appears transferable and independent. The core message is that a business should not be 'all about you' if you intend to sell it successfully. It emphasizes that by making these adjustments, businesses become more saleable, leading to successful transactions for both parties. The article also touches upon the importance of professional valuation and discreet selling.