Join Naomi Simson for an in-depth discussion in this video Building your transaction team, part of Selling Your Small Business.
- Most small businesses, when they start thinking about…selling their business, the first person they go to…is their local accountant, the person who's done…their tax return for probably many years,…and it's not necessarily the right person.…You're looking for somebody who's done transactions before.…So you need to put your team of advisors together.…So there's several people you'll want on your team,…one is an accountant, another person is a legal person,…and a corporate advisor who can help you…with the structures of the actual term sheet.…The term sheet is a preamble to the contract.…
What I want you to think about…is the fact of who is your A-team?…You need to bring your A-team to this game.…This is a once in a lifetime experience potentially,…and you wanna make sure you are the best version of yourself…and you have the best advisors around you.…Trust is materially important.…Do you trust these people to do the right thing by you?…So put the advisors around you, your A-team,…because you don't need to be an expert in everything.…
- Recognize the best conditions for selling your business
- Identify the ideal strategic timing for making the sale
- Recall the key components in a vendor due diligence
- Explore the components of a successful sale outcome