Entrepreneurs have been reminded that selling a business is no walk in the park and that if they want to get a successful deal it will take time and effort.
A recent article in the Telegraph highlighted that selling a business cannot be a quick process. It takes “at least a year from setting the wheels in motion to getting the money in your hands” and many of the business people we've worked with find that it takes significantly longer than this to prepare a company for sale thoroughly.
While most business owners are aware of the time and effort involved in selling a business, many are surprised at the ruthlessness required to see things through. The article in the paper advised sellers to “look objectively at every aspect of the business through the eyes of a prospective buyer”.
We are inclined to agree and if our recent interview with Ed Macnair, founder of SaaSID, is anything to go by, many successful business sellers also think this way. Macnair told the Business Sale Report that he brought in outside advisers partly to make the process that bit smoother: “I think you can go it alone, but why make it harder on yourself? There are always points during the negotiation that things can get a little bit brutal.”
He added that “clarity of vision” is key to a successful business sale: “I think that you've go to … really understand what you're looking to achieve from the get-go.”
Macnair knows a thing or two about successful business sales having sold his UK tech start-up, SaaSID, to Intermedia for a five-fold return for investors just 14 months after the company got going. 
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