Preserving Goodwill Gary Van Sistine, Business Intermediary When selling a profitable business, most of the time what we’re really selling is goodwill. So, what is the nebulous concept? Goodwill is the life force of the business. The force of a business is its likelihood of future income and its replicability of income. The major reasons brokers are involved in a transaction as business intermediaries is to champion, protect and manage the transfer of this valuable and delicate asset. I also believe that most business sales need to be win-win transactions. Buyers expect to benefit from the seller’s client, customer, employee and vendors relationships. The buyer and seller will be spending considerable time together, so it is essential that they can work together to ensure that the seller positions the buyer for success. The bottom line is that when the goodwill in a business transaction is preserved and transferred to the buyer, his/her chance of success with the business skyrockets. Paraphrased from: “The Art of Preserving Goodwill” by Susanne De Lucia, CBI, Fellow of the IBBA
Posted on: Mon, 10 Jun 2013 13:51:04 +0000
Trending Topics
Recently Viewed Topics
© 2015