No matter where you are in the journey of running your business, we encourage you take onboard some tips to make the eventual sale process run smoothly.
Regardless of how involved you are with the business and the sales process; you will want to ensure that everyday operations and revenue growth stay as consistent as possible. Buyers value consistency.
Another item worth thinking about is confidentiality. Professional Business Brokers and M&A Advisors will put utmost importance on confidentiality as information leaks quickly interfere with the sale process and value of the business, whether it is due to a client/staff looking elsewhere or competitors taking advantage of the situation.
If you have partners in your business, discuss your perspective on how the future sale of your business should go well in advance. If the business needs to be sold sooner than expected, it will be very helpful to have already addressed these issues.