Being responsive is critically important during the selling process; therefore, a firm understanding of how you need to organize and prepare a business to a potential buyer should be at the top of any seller’s list.
A professional M&A Advisor will make certain their clients will be prepared and responsive when fielding any inquiries, a potential buyer might have.
One of the biggest “deal-killers” is when the process TAKES TOO LONG !!!
Buyers evaluating a business will initially request at least three years’ worth of financial information (P&L statements & balance sheets). So, before you determine it’s acceptable to release confidential financial information, you should do a personal analysis of your cash flow, your expenditures, your employees, your tax strategy and other elements of your operation to see whether they are optimal.
The more formal and detailed you are with your financial information, the better the impression you’ll make and the easier the due diligence process will be for a buyer.
We get into this in greater detail on our “Detailed Seller Tips” Page.
Conducting business as usual, while maintaining confidentiality, is critically important. Do not let your business performance decline because you’re too focused on the sale of your business. This could potentially hurt the value of the business because of declining sales and could give buyers additional negotiating power to lower their offers.
By hiring BIB Group as a professional M&A Advisors, this gives a seller the flexibility to continue to focus on the day-to-day activities of their business uninterrupted.
There are many things to take into consideration when selling your business. What legal documents are required? How can I minimize the tax consequences? Who handles and helps negotiate with the prospective buyers? The answers to these three questions, respectively are: A Business Attorney, a Business Accountant and a Business Broker/M&A Advisor.
As a professional M&A Advisor, we recognize and implement the important aspect of maintaining confidentiality during the entire selling process, while still utilizing our selling techniques when identifying qualified buyer candidates.
To get things started, BIB Group will first consult with our clients on the value of their business and help them develop an aggressive marketing plan.
Schedule an Opinion of Value for your business today with BIB Group.
