Essential Steps in the Selling Process
Planning and Process Key to Successful Transaction
Like any critical business process, small and mid-sized company owners need to be familiar with the process that leads to successful sale of their company.
The successful selling process considers financial records, fundability and financial performance of seller, transaction type and involvement of outside counsel and accountants. See the diagram below. Even smaller businesses benefit by following Minuteman Ventures' structured approach.
The sequence presumes that the decision has been made to sell. Prior to this point, forward-thinking firms will have gone through a process that considers the best exit plan, whether it is family transition, ESOP, gradual liquidation or outright sale.
These steps are often completed in concert with an experienced acquisition advisor, with valuable support from counsel and accountants. In some cases, the steps can be condensed and may overlap.