Even in the midst of the global economic crisis, it should not let a true entrepreneur resignedly accept financial loss as an unavoidable pit stop. If you are selling your business, be vigilant so as not to sell you business for so much less than what it is actually worth. Here are some useful tips if you are selling your business:

 Assess the value of your business. Get help with a reputable accounting firm to go over your assets, inventory, receivables, and profit-and-loss records. This will boost your confidence in asking for a fair price.

2) Give your business a presentable look. A clean, orderly, functional and well-managed business will make it easy for you to get your asking price. Do some repair, clean up the clutter, throw out the junk, and make your business presentable to the full extent that you can.

3) Negotiate price and terms of payment. Don’t go below your bottom line by referring to your business valuation report. A bad economy is also a great opportunity for speculators looking to buy a business. If your prospective buyer withdraws, simply push your broker to find other buyers.