At Divestopedia, we have had the privilege of interviewing some of the best and brightest on the subject of selling a mid-market business. Here are some of our favorite pieces of advice on getting ready to sell:
"Never negotiate a deal yourself. If you’re a business owner, keep running that business. Put the blinders on. Bring in a professional accountant. Bring in a professional investment banker, somebody that negotiates deals. Sometimes accountants do that, but I would bring in someone who knows what they’re doing, specifically in negotiations, and can invite in other bidders. Bring in an attorney who knows what they’re doing. We had two of those three. We should’ve had all three. Then just keep growing the business." Get the full podcast here.
Mike Michalowicz, CEO of Provendus Group
Josh Patrick, Founding Principal of Stage 2 Planning Partners"One of the things I always tell folks when I'm working with them is saying, "Hey, let's get our business ready to sell. Have it in a sell-ready position all the time. "It doesn't mean you're going to sell the business, but businesses that are sell-ready run much better than the businesses that don’t." Get the full podcast here.