Many times, business owners approach us telling us what they “need” when they sell their businesses. That is the only thing on their minds. They have not thought about the legal and financial issues that need to be addressed. For example, most have not worked through whether the proceeds from the sale of the business will be sufficient to support them post-sale. Also, many business owners intend to use their general attorney to help them close the sale. If that attorney is very experienced in business sales, that is ok. But if not, it is well worth seeking the counsel of an attorney experienced in helping owners sell businesses. Last but not least, the entire process needs a quarterback. Your investment banker or business broker can play that role if they have legal and accounting backgrounds as we do at Turning Point Advisors, LLC.
To understand how to build a team that will help you sell your business for the best price with the least amount of risk and, most importantly, with the least aggravation to you, click here to learn more.