We have a saying at DealCoachCornerstone: “Go ugly early.” When you’re selling a business, put issues on the table right away. Whether you have ineligible employees on your payroll, you just lost a client, or litigation is pending—be up front.
Providing clarity around your business flaws serves two purposes. First, it makes the whole process more efficient. If workforce issues are a no-go issue for a buyer, let’s flush them out early before we’ve invested any time or money. Transparency also brings credibility, establishing you and your advisors as honest, ethical people. That goodwill can go a long way in negotiations.
By Jason Salisbury of Cornerstone Business Services