Making yourself irresistible for M&A
7 tips to get you ready to sell your business
So you've decided it's time to sell...You’re a private business owner who has decided that the time is right to partially or fully transition out.
Whether it’s to bring in a partner to take your business to the next level or to realise fully on your time and investment so far. There is really only one more “big” question to answer... Are you ready? These seven tips can help you to achieve the very best outcome.
- Know what you want: Getting clarity on what is most important to you to achieve from a potential transaction is paramount.
- Think about you, and the team around you: If you’re the critical link in your business, it’s time to reduce the company’s dependence on you.
- Put your best foot forward: Being able to produce high-quality, accurate, timely financial information is vital to a smooth transaction.
- Articulate your story clearly: The story and how you tell it is powerful!
- Preparing for a transaction can absorb your time: It’s wise to try to minimise adverse impacts on front line employees and external resources, including key clients.
- Be realistic: Understanding the business’s value drivers, industry benchmarks, and key economic and market trends will give you a sense of what you can reasonably expect before the process begins.
- Get professional advice: M&A transactions are complex, time- consuming, and often highly emotional once-in-a-lifetime events that can distract management from keeping the business on target.
Because, ultimately what you want to do is… Make the absolute most of it!