You might have already found your dream buyer, or you’re still looking for one. Either way, the deal is in motion. But you might not be the best person to handle the finer details.
Some business owners are too involved in the transition process and lose sight of the bigger picture, becoming obstacles rather than aids during the sale. The solution? Rely on experts to handle the entire process. This way, you can be at ease knowing your business is getting the thorough attention it needs, from legal advisors to independent valuation experts.
Forbes offers an apt analogy: “A football team needs an effective coach to win a championship. But it also needs a good quarterback. The same holds true for both companies involved in a merger/acquisition. Each company needs their CEOs to act as coaches who guide the undertaking. But CEOs often forget one crucial aspect of being a coach: to do your job well, you need to stand on the sideline and let the players on the field succeed.”
That doesn’t mean you have to disengage the sale process entirely; business owners ultimately have the final say. However, the best way to add value is to offer your expertise and knowledge about the industry during the transaction process.
If a buyer’s offer doesn’t meet your expectations, there’s no obligation to take them up. In general, as a detached outside party, an M&A advisor can guide you and advocate for your needs more objectively, keeping in mind business and market considerations.
Collaborating with sell-side firms like Paramax will likely result in a better sale price and your business’s sustained growth and success post-exit.
Continue reading to discover the five steps to selling a business, from sales preparation to post-sale experience.
2. Preparing a Business for Sale
4. The Deal Process
Have the Right Partner by Your Side
Paramax boasts years of unmatched experience in managing sell-side M&A transactions, from early preparations through negotiations to deal closure. If you’re looking for a partner who’s dedicated to your and your company’s best interests, contact us today.