Your business is on the market and you’re looking forward to that glorious day when you can let go of the pressure and responsibilities of ownership. But don’t let those future plans distract you from what’s going on today.
It’s critical that you keep running your business as usual. From making sales calls to developing staff and negotiating routine contracts—keep on keeping on. Deals do sometimes fall through, and you don’t want to damage your business by hitting pause in the process.
As you enter the IOI stage, talk to your advisors about making significant business decisions such as investing in new equipment or creating new management positions. You need to strike a careful balance between protecting your business interests and aligning with buyer-plans.
If you’re considering a sale and want to know more about the process, contact us for a confidential conversation.
By Scott Bushkie
Scott Bushkie is Managing Partner and Founder of DealCoach.
With more than 20 years in the M&A industry, Scott is a recognized leader in the field, providing exit strategies and M&A advisory services to business owners in the lower middle market. He has successfully executed sales to domestic and international buyers, private equity firms, family offices, and strategic buyers. Follow DealCoach on Linkedin