20 Golden Nuggets - Negotiation.

13. Negotiating Like a Pro -  How to Get What You Deserve

Once a potential buyer shows interest, the real work begins -  negotiating the sale. This process can be challenging, but if you’re well-prepared, you can get the price and terms you deserve. The key to successful negotiation is knowing your value and being willing to walk away if the offer isn’t right.

Before negotiations, understand the fair market value of your business and the potential buyer’s motivations. Are they looking for a growth opportunity or a steady income stream? Use this knowledge to craft your negotiation strategy.

Be clear on what’s most important to you. Is it the sale price, the terms of the handover, or maintaining your business legacy? Know where you’re willing to compromise and where you won’t budge. Be professional but firm, and never underestimate the power of walking away from a bad deal.

Golden Nugget -  Negotiation is an art. Know your value, understand the buyer’s motivations, and be willing to walk away from a deal that doesn’t work for you.