September 10, 2017
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Submitted by Michelle Young at Toptal
Edited by Lynn Patra
It can take around five months to sell a business. It is a significant commitment with many risks, in terms of juggling attention between ongoing operations and negotiating the sale. Enlisting the a professional M&A consultant’s assistance will help a founder to manage time, maintain their business, and maximize the economic outcome of the deal.
To help select an M&A consultant to work with, we will outline the steps of selling a business and, for each, outline the beneficial characteristics that a consultant can provide.
This article is written within the context of trying to sell a business (outbound), as opposed to fielding an unsolicited request to buy a business (inbound)
Prelude: Does the Founder Want to Sell?
The reasons for selling a business will first be defined by the owner’s personal situation and desires: Read more of this post