{"id":561093,"date":"2012-06-27T03:30:14","date_gmt":"2012-06-27T07:30:14","guid":{"rendered":"https:\/\/vrbbd.wpengine.com\/vrbbgreenbay\/selling-what-does-an-intermediary-expect-from-you-2\/"},"modified":"2022-01-31T12:44:38","modified_gmt":"2022-01-31T17:44:38","slug":"selling-what-does-an-intermediary-expect-from-you-2","status":"publish","type":"post","link":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/selling-what-does-an-intermediary-expect-from-you-2\/","title":{"rendered":"Selling: What Does An Intermediary Expect From You"},"content":{"rendered":"
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If you are seriously considering selling your company, you have no doubt considered using the services of an intermediary.\u00a0 You probably have wondered what you could expect from him or her.\u00a0 It works both ways.\u00a0 To do their job, which is selling your company; maximizing the selling price, terms and net proceeds; plus handling the details effectively; there are some things intermediaries will expect from you.\u00a0 By understanding these expectations, you will greatly improve the chances of a successful sale. Here are just a few:<\/p>\n

\u2022\u00a0Next to continuing to run the business, working with your intermediary in helping to sell the company is a close second.\u00a0 It takes this kind of partnering to get the job done.\u00a0 You have to return all of his or her telephone calls promptly and be available to handle any other requests.\u00a0 You, other key executives, and primary advisors have to be readily available to your intermediary.<\/p>\n

\u2022\u00a0Selling a company is a group effort that will involve you, key executives, and your financial and legal advisors all working in a coordinated manner with the intermediary.\u00a0 Beginning with the gathering of information, through the transaction closing, you need input about all aspects of the sale.\u00a0 Only they can provide the necessary information.<\/p>\n

\u2022\u00a0Keep in mind that the selling process can take anywhere from six months to a year — or even a bit longer.\u00a0 An intermediary needs to know what is happening — and changing — within the company, the competition, customers, etc.\u00a0 The lines of communication must be kept open.<\/p>\n

\u2022\u00a0The intermediary will need key management\u2019s cooperation in preparation for the future visits from prospective acquirers.\u00a0 They will need to know just what is required, and expected, from such visits.<\/p>\n

\u2022\u00a0You will rightfully expect the intermediary to develop a list of possible acquirers.\u00a0 You can help in several ways.\u00a0 First, you could offer the names of possible candidates who might be interested in acquiring your business.\u00a0 Second, supplying the intermediary with industry publications, magazines and directories will help in increasing the number of possible purchasers, and will help in educating the intermediary in the nature of your business.<\/p>\n

\u2022\u00a0Keep your intermediary in the loop.\u00a0 Hopefully, at some point, a letter of intent will be signed and the deal turned over to the lawyers for the drafting of the final documents.\u00a0 Now is not the time to assume that the intermediary\u2019s job is done.\u00a0 It may just be beginning as the details of financing are completed and final deal points are resolved.\u00a0 The intermediary knows the buyer, the seller, and what they really agreed on.\u00a0 You may be keeping the deal from falling apart by keeping the intermediary involved in the negotiations.<\/p>\n

\u2022\u00a0Be open to all suggestions.\u00a0 You may feel that you only want one type of buyer to look at your business.\u00a0 For example, you may think that only a foreign company will pay you what you want for the company.\u00a0 Your intermediary may have some other prospects.\u00a0 Sometimes you have to be willing to change directions.<\/p>\n

The time to call a business intermediary professional is when you are considering the sale of your company.\u00a0 He or she is a major member of your team.\u00a0 Selling a company can be a long-term proposition.\u00a0 Make sure you are willing to be involved in the process until the job is done.\u00a0 Maintain open communications with the intermediary.\u00a0 And, most of all \u2013 listen. He or she is the expert.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

If you are seriously considering selling your company, you have no doubt considered using the services of an intermediary.\u00a0 You probably have wondered what you could expect from him or her.\u00a0 It works both ways.\u00a0 To do their job, which is selling your company; maximizing the selling price, terms and net proceeds; plus handling the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-561093","post","type-post","status-publish","format-standard","hentry","category-selling-a-business"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/posts\/561093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/comments?post=561093"}],"version-history":[{"count":0,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/posts\/561093\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/media?parent=561093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/categories?post=561093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/tags?post=561093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}