Looking for an advisor
13/03/15 Filed in: Insights
The decision to sell your business, select a strategic partner or seek additional capital not only requires dedication to an intensive process on top of your ordinary management responsibilities but the support of an independent party who can guide and manage that process. What should form part of that consideration?
For many business owners the process of selling their business may be a unique event, one of which they have no previous experience and where they lack the knowledge of how to achieve an exceptional result. That’s where the right advisor comes in, but how do you determine who is “right” to help with your process.
Here are some thought starters for questions to ask when making that decision.
- What experience do you bring that is relevant to my market sector? Have you a track record of working with similar businesses?
- How do you allocate resources from your team to an assignment? What experience do they have of selling companies?
- How will you ensure that my company information is kept secure and confidential?
- How is the sale process managed? What is the timetable and what deliverables will be provided eg. NDA, Profile, Information Memorandum. What examples of this output can be provided?
- Who would you anticipate being potential buyers for my company and why?
- What can you do to assist in preparing the company for a sale process? Do you have strategic planning expertise? Can you assist with preliminary transactions to build value?
- How do you establish a valuation for my business? How do you ensure our interests are aligned?
- How are your fees structured? Up-front charges, retainers, cash or equity on completion, expenses ?
Building a relationship doesn’t happen without trust. We would be very happy to sit down and discuss your business needs, frankly and without obligation. Get in touch and let’s see if we can bring more value to your efforts.