3 Steps to Selling

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🔍 Step 1: Prioritizing Pre-Diligence – Expanded Tips

You might consider adding a checklist or timeline to help sellers visualize what “well in advance” means. For example:

  • 12–18 months before sale: Begin financial cleanup, resolve outstanding liabilities.
  • 6–12 months before sale: Conduct mock due diligence with advisors.
  • 3–6 months before sale: Finalize documentation, prepare marketing materials.

This helps sellers pace their preparation and avoid last-minute surprises.

⚖️ Step 2: Reducing Perceived Risk – Additional Areas to Consider

You’ve covered key risk factors well. Here are a few more that buyers often scrutinize:

  • Operational Dependence: If the business heavily relies on the owner, consider creating systems or delegating responsibilities to show it can run independently.
  • Industry Trends: Demonstrate how the business is positioned to adapt to market changes or emerging technologies.
  • Customer Retention Metrics: Highlight retention rates or recurring revenue to show stability.

👥 Step 3: Engaging the Right Professionals – Who to Include

You could briefly define the roles of each professional to help sellers understand why they’re essential:

  • Business Broker or M&A Advisor: Markets the business, screens buyers, negotiates terms.
  • Accountant: Ensures financials are clean and tax implications are understood.
  • Attorney: Drafts and reviews contracts, handles legal compliance.
  • Wealth Advisor: Helps plan post-sale financial strategy.