How to protect my employees when selling my business

I’ve Been Approached by a Buyer, What Do I Do?

Even if you haven’t considered selling your company yet, it’s important to know the right steps for when someone approaches you with interest. These are “surprise buyers” and they expect you to have little to no knowledge of the market for selling
your company.

Don’t be naive. Know the five steps for what to do when someone approaches you to buy your company:

  1. Don’t close the deal by yourself.
  2. Engage the right support team and M&A firm.
  3. Figure out what you want for your company and for       
  4. Place your company on the market to attract
         additional buyers.
  5. Create a competitive bidding war.

By doing this, the ball is in your court and you have the upper hand in the deal. Even if you don’t move forward with a sale in the end, you will know what you want and where you want to go, and you will gain a wealth of knowledge for when you decide to take that step.

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