Tip #130: Business owners must be prepared for the process of selling their business!

tip 130Selling a business is a multi-step and sometimes challenging process which can take more time than anticipated. Anything can happen along the way in finding a qualified buyer, surviving the scrutiny of due diligence, financing and negotiating all the issues. The business must be ready with well-prepared financials, key employees in place, a well-organized operation and a host of other items. And business owners must be mentally prepared to go through this “stop and start process” and have a team of professionals on board, especially a mergers and acquisitions advisor, to guide them through this entire process as they move on to the next chapter of their life.