How Do I Get My Tech Business Ready to Sell?
There are many reasons why you would want to sell your tech business. Whatever that reason may be, you should understand and research these important points before you start the process.
Get Your Company Ready For Market
Two of the most important steps in selling your company are receiving an accurate business valuation and taking a detailed inventory of your business. Your buyer will be combing through every inch of your business in order to negotiate a lower price, so you want to be informed and prepared to deal with any potential weakness in your company, as well as leverage the strengthens. Make sure your company, and yourself, are presentable before the selling process begins. Check to see if your financial statements are current and up to standard and verify all employee documents on file.
Know Your Audience
You have a wide range of choices when it comes to your buyer, and you should be aware of the positives and negatives of each type. Traditional capital growth investors, individual buyers, and angel funds, for example, all have different operating styles. Be aware of each type of acquirer and make sure you understand exactly what they are asking.
Utilize Your Advisors
Accountants, lawyers, and upper-management should all be leveraged in your process. Now is the time to call on their expertise in the preparation to sell as well as throughout the deal process. Additionally, an M&A advisor will give you unique and specific consultation. The M&A advisors at True North Mergers & Acquisitions will work alongside your trusted advisors to maximize your profits from your company.
Brent Engelbrekt is a Senior M&A Advisor with True North Mergers & Acquisitions. As a past business owner, Brent comes with a key understanding of the business sales process, knowledge acquired first-hand as a principal in several successful business and commercial real estate transactions. Learn more about Brent and his credentials by clicking here.Email Brent directly at firstname.lastname@example.org