While merger and acquisition advisors are working to sell your business, it’s important for you to keep running things in a smooth and seamless manner. In countless cases, sellers have made the mistake of letting things slide because they are distracted while trying to sell. You’ll want to make sure operations remain the same, as prospective buyers will start to become nervous otherwise. Be sure to keep the premises in tip top condition. Things such as operating hours and inventory levels should remain unchanged. Remember, a decline sales and earnings will raise a red flag for buyers.  

M&A advisors will help tremendously with various details and events that will take place during the sales process. They will keep their eye on the prize, so you have the time and energy to focus on running your business. The same holds true for other professionals who may help you, such as attorneys and CPAs. 

Get Professional Advice on Pricing

You may have a pre-established figure in your mind of what your business is worth and how much you expect to make when you sell. However, you will only receive what the market will allow. That’s why it’s important to get a professional valuation before you decide on a price. If the price you set on your business is too high, it will slow down – or even halt – your journey toward successful results. 

Keep Things Confidential

Until your sales transaction is completed, you should also make sure the highest standards of confidentiality are held. If your vendors and employees know you are selling, it could lead to circumstances that are detrimental to the value of your business. For example, key employees could seek employment elsewhere and/or vendors could terminate contracts. 

Decide On Your Strategies 

Will you be willing to stay on in some capacity? In many cases, this decision can help increase what you receive for your business. Buyers will often pay more when a seller stays on for a designated period of time, as they see this as a reduction in their risk. Would you be willing to offer seller financing? Again, buyers will see this as a sign that you believe in the future success of the business. 

Prepare in Advance

It’s always best to prepare when you are not experiencing external pressures. You never know when life circumstances could force you to sell. That’s why so many sellers start preparing years in advance by taking actions such as cleaning up paperwork, handling litigation and/or environmental issues, and organizing documents. 

Selling a business can be highly distracting for business owners. That’s why most reach out to an M&A advisor. In fact, the best policy is for business owners to start talking to M&A professionals quite a few years in advance. That way they can make sure everything is optimized for positive results when the time to sell arrives.