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Selling a business — Part I:The timeline selling a business and the criteria to achieve best results influence your decision to sell your company or parts of it. Selling your company is often an emotionally charged once in a lifetime decision. You will benefit from having a professional alongside you that manages the process and does the work leaving emotions aside.The process includes a few important steps, which should be followed to optimise chances for a successful transaction, meeting objectives such as to:
- Maximize value for the seller
- Meet strategic restrictions
- Maintain business value
- Keep process under control
- Do not overburden management
- Do not disrupt operations
- Maintain employment
- Retain key persons
Timeline selling a business:
- Preparing the business for sale — can be very swift, if the business is transparently structured and documented or take quite long if it isn’t.
- Marketing the business — might take a few weeks, depending also on the strategy and the availability of buyers.
- Selecting indications of interest and following up with data and meetings — might take some weeks, depending from the quality of information and availability of buyers.
- Generating competition through such as a structured auction to receive binding bids and drafting the transaction structure — can be very swift, once buyers have been satisfactorily informed.
- Mastering due diligence, final negotiation and closing — might take weeks to months, depending from its complexity and data quality.