{"id":561029,"date":"2012-06-27T03:40:16","date_gmt":"2012-06-27T07:40:16","guid":{"rendered":"https:\/\/vrbbd.wpengine.com\/vrbbmadison\/points-ponder-sellers\/"},"modified":"2022-01-31T12:44:38","modified_gmt":"2022-01-31T17:44:38","slug":"points-ponder-sellers","status":"publish","type":"post","link":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/points-ponder-sellers\/","title":{"rendered":"Points to Ponder for Sellers"},"content":{"rendered":"
\n

Who best understands my business?<\/strong><\/strong><\/p>\n

When interviewing intermediaries to represent the sale of your firm, it is important that you discuss your decision process for selecting one. Without this discussion, an intermediary can\u2019t respond to a prospective seller\u2019s concerns.<\/p>\n

Are there any potential buyers?<\/strong><\/strong><\/p>\n

When dealing with intermediaries, it always helps to reveal any possible buyer, an individual or a company, that has shown an interest in the business for sale. Regardless of how far in the past the interest was expressed, all possible buyers should be contacted now that your company is available for acquisition. People who have inquired about your company are certainly top prospects.<\/p>\n

Lack of communication?<\/strong><\/strong><\/p>\n

It is critical that communication between the seller, or his or her designee, and the intermediary involved in the sale, be handled promptly.\u00a0 Calls should be taken by both sides.\u00a0 If either side is busy or out of the office, the call should be returned as quickly as possible.<\/p>\n

Does the offering memorandum have cooperation from both sides?<\/strong><\/strong><\/p>\n

This document must be as complete as possible, and some of the important sections require careful input from the seller.\u00a0 For example: an analysis of the competition; the company\u2019s competitive advantages \u2013 and shortcomings; how the company can be grown and such issues as pending lawsuits and environmental, if any.<\/p>\n

Where are the financials?<\/strong><\/strong><\/p>\n

It may be easy for a seller to provide last year\u2019s financials, but that\u2019s just a beginning.\u00a0 Five years, plus current interim statements and at least one year\u2019s projections are necessary.\u00a0 In addition, the current statement should be audited; although this usually presents a problem for smaller firms — better to do it now than later.<\/p>\n

Are the attorneys dealmakers?<\/strong><\/strong><\/p>\n

In most cases,\u00a0 transaction attorneys from reputable firms do an excellent job.\u00a0 However, occasionally, an attorney for one side or the other becomes a dealbreaker instead of a dealmaker.\u00a0 A sign of this is when an attorney attempts to\u00a0 take over the transaction at an early stage.\u00a0 Sellers, and buyers, have to take note of this and inform their attorney that they want the deal to work \u2013 or change to a counsel who is a \u201cteamplayer.\u201d<\/p>\n

 <\/p>\n

Intermediaries are responsible for handling what is usually the biggest asset the owner has \u2013 and they are proud of what they do.\u00a0 Intermediaries realize that the sale of a business can create the financial security so important to a business owner.\u00a0 Even when a company is in trouble, the intermediary is committed to selling it, since by doing so, jobs will be saved \u2013 and the business salvaged.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Who best understands my business? When interviewing intermediaries to represent the sale of your firm, it is important that you discuss your decision process for selecting one. Without this discussion, an intermediary can\u2019t respond to a prospective seller\u2019s concerns. Are there any potential buyers? When dealing with intermediaries, it always helps to reveal any possible […]<\/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-561029","post","type-post","status-publish","format-standard","hentry","category-selling-a-business"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/posts\/561029","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/comments?post=561029"}],"version-history":[{"count":0,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/posts\/561029\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/media?parent=561029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/categories?post=561029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbmadison\/wp-json\/wp\/v2\/tags?post=561029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}