The Confident Business Seller Process
1
Understand
Objectives
The business owner needs to express what he/she wants from the sale of the business and ensure that these objectives aligns with market realities.
2
Commence
Engagement
A productive working relationship starts with clarity around schedule and process. All of that can be specified in the Engagement Agreement.
3
Plan for
Success
There is no small amount of data required to create the best marketing materials, and this homework phase sets the stage for identifying the best buyer.
4
Launch
Outreach
With objectives solidified and the right materials, it’s time to start talking to prospective buyers. A defined process will keep the train on the tracks and ensure business owner objectives are met.
5
Prove
the story
It’s now time for the buyer to dive into your business and determine that everything you have told them is true, and ensure that the business comports with their vision for the future.
6
Complete
documentation
The paperwork required to get a business sold might surprise you, but with a capable quarterback leading your team, the business owner can be sure he/she is protected.
7
Sing a
swan song
More times than not, the deal closing is not the end of the business owner’s involvement, but it is the beginning the end. There is more work to do, which can range from short-term transition consulting to long-term employment and a continuing equity role in the company.
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