Who Should Be on Your Team when You Sell Your Business?

Who Should Be on Your Team when You Sell Your Business?

By Reno J. Heine

Selling your business is one of the most important transactions of your life! Most people would say that it makes selling your home feel like a walk in the park. There are many factors that need to be considered and should probably be performed by industry experts who can:

  • Draw up contracts and negotiate the best possible price (you only have one opportunity to maximize profits).
  • Align/Coordinate Due Diligence, Transactional Attorneys, Appraisals and Valuation Experts, Banks or Financiers, etc.
  • Most importantly you need to have a business broker that will not only bring viable buyers to the mix, but will do it while keeping all your information confidential.

Most of the items above are coordinated/delegated by your business broker. They have industry experts that they work with on many transactions and can refer you. Your business broker should also walk you step-by-step through the process. My recommendation is to fully vet your Business broker and partner with someone you trust that can take 90% of these processes off your plate and ensure a successful close!