I’m always on the hunt for relevant info and I loved this – one of the best articles I’ve seen on this topic for a while. Here are a few paragraphs as a taster…
Deciding to sell a business is not something company leaders take lightly. It can take months and even years to adequately prepare, especially if you intend to have everything in order so as to ensure receipt of top dollar and a smooth transaction. But, sometimes even the most organized and prepared companies jump into signing a letter of intent before they are truly ready. It is obviously exciting to get the ball rolling, but it is critical to ensure that certain items have been taken care of before making that commitment. Here is what to do before signing a letter of intent to sell your business:
Get on the Same Page
There is a common notion that because a company begins to embark on a sale that all members of the leadership team have discussed the goals of the transaction in depth. Granted, this may be true to some extent, but there are often areas that were not considered or only received a cursory review. If a deal gets going and it becomes apparent that there is a lack of understanding amongst the team, this may deter the interested buyers. Few companies are interested in having to referee disagreements or constantly make changes because of competing expectations, so getting everyone on the same exact page before moving forward is vital.
Pretty valuable stuff, I’m sure you’ll agree! Why not check out the whole article hereand share your thoughts with me afterwards: call (0407) 764-261 or email me at firstname.lastname@example.org.