0816_TOEFL-Test-and-Score-Manual-1997

90 ● 201 Great Ideas for Your Small Business
A serial entrepreneur, in 2009, Nesbit started raising money for a new
dental company she founded, Celadon Dental. She closed a round of financing
in 2011.
Nesbit offers this advice for anyone trying to sell a company they built:
“Don’t apologize for what you are asking for. And when people start picking
your company apart, know they are just negotiating. There’s a lot of emotional
manipulation and gamesmanship. You can’t take it personally. You have to
be willing to walk away.”
No matter what happens: “Believe in yourself, believe in your deal, and
stand strong.”
How to prepare your business for acquisition:
• Explore ways to increase value. Your business could be made more
attractive to prospective buyers if changes are made in the organization,
key personnel, or marketing strategies. Understand when the market
is ready.
• Be ready when buyers are active, money is plentiful, and interest rates
are low. Don’t assume the best buyer is local. Document the growth
potential of your business. Consider which perks you’ll miss after selling
your business.
• Hire a reputable person to appraise your business. Work with a competent
attorney, investment banker, and accountant. This is not a time to
scrimp on professional help.