Selling a Business

  • There are six important steps that are essential to successfully selling a business:
    1. Sellers understand the range of value of their business.
    2. Seller ensures that seller and buyer are ultimately in agreement as to the final template or methodology that will be used for business valuation.
    3. Seller and buyer prepare a comprehensive letter of intent or memorandum of understanding outlining all aspects of deal structure.
    4. Successful completion of due diligence.
    5. Preparation and execution of all legal documents that are required to close the transaction.
    6. Respectful and timely communication activity with the buyer throughout the transaction period.
  • The six most common mistakes that are made when selling a business:
    1. Seller does not have a clear understanding of the range of business value prior to commencing negotiations with buyer.
    2. Advancing the selling process, including providing key due diligence material, without a clear and complete understanding with the buyer as to the business valuation template.
    3. Preparing a letter of intent with buyer that does not clearly identify and resolve all the business issues that will be necessary for successful deal completion.
    4. Not providing sufficiently detailed due diligence information on a timely basis.
    5. Allowing legal professionals to commence preparation of the necessary legal documentation prior to final agreement with buyer as to the final valuation template and/or clear resolution of all business issues associated with the transaction.
    6. Seller is perceived by the buyer as not being “fair”.
  • If you are considering selling your business; if you have been approached by a potential buyer; or if you are currently involved in a selling process and are facing any of the issues as outlined above, then, email Norman Seawright, CA at to set up a no cost introductory strategy meeting. We are not business brokers! We are expert consultants who work closely with our clients to ensure a successful closing while achieving maximum value.