Yes, it is possible to sell a business without a broker, just as it is possible to sue someone without the help of an attorney. Although a broker is not always necessary, there are instances when a broker may be useful and other times when you can manage a sale without the help of a broker.

We recommend using a broker in these situations:

  • You have never sold a business before.
  • You would like to maximize the purchase price of your business.
  • You would like to sell your business as quickly as possible.
  • You do not want the sale of the business to distract you from running your business.
  • You are working full time in the business and cannot invest a significant amount of time in the sale process.
  • You have been approached by a potential buyer, either with or without an offer.

Here are a few situations in which we believe it is not necessary to hire a broker:

  • You have already negotiated a price with a buyer, and you are not concerned about maximizing the price. While you may not need a full-service broker in a case like this, we still recommend hiring an attorney or a broker to assist with the closing.
  • You are selling your business to an insider, such as a family member or an employee. Our recommendation is to hire an attorney in this case.
  • You are a serial entrepreneur and have sold multiple businesses before.

Selling a business is a complicated process. Even if you hire brokers like us to sell your business, it’s still imperative for you to understand the process before, during and after the sale. You can’t simply hire us or another broker and blindly let us handle everything.

As an owner, you have a tremendous amount of responsibility to participate in the process regardless of who you hire to help you out. With almost two decades of experience in helping entrepreneurs sell their businesses, I learned that most of them had been thinking about actually selling their business, but never thought about preparing for the sale.

Is this book written for you?

If your business has a revenue of less than $25 million, then this book is for you. Whether you’re selling your business now or you’ve been thinking about selling in the next five years, you will gain useful and actionable insights from this book.

What will you get from this book?

Sell your business without stress. The process of selling a business is complex and can be extremely stressful, especially if not handled correctly. On this book, I explain the entire sale process in simpler terms to help you understand what happened before, during and after the sale.

Anticipating what’s going to happen, e.g., how you should qualify buyers or how you should choose the right seller financing, etc., can definitely reduce, if not totally eliminate, stress in the process.

Be more confident in selling your business. The

The hardest thing for most small business owners to do is relinquish control of any part of their operations. Time and time again, owners feel this overwhelming pressure to run every aspect of their business themselves. From your perspective, this is not unreasonable. You have spent countless hours and a lot of money building your business and you want to make sure it is all being done correctly and to your standards. But, take a moment and think about what that means for you. These are the tasks you’re most likely to perform:

  • Manage Staff
  • Handle payroll
  • Manage your calendar
  • Hire and fire employees
  • Answer emails and phone calls
  • Go through the mail
  • Pay bills
  • Marketing
  • Generate and follow up on leads
  • Create products
  • Prepare tax records
  • Comply with business licensing laws
  • Interview candidates
  • Manage business accounts
  • Repair equipment
  • Process payments
  • Rent space
  • Maintain the office
  • Develop a website
  • Perform market research
  • Deliver products to customers
  • Plan and strategize

Making the decision to list your business for sale is one of the most important choices that you, as a business owner, will have to make. Listing prematurely can lead to unexpected surprises in due diligence, lower valuation by prospective buyers, and even an inability to close the sale. We have compiled a list of 10 signs that may indicate that your business is not ready to be sold. If you are planning to sell and one or more of these apply to you, dedicate some time to resolving these issues – it will make all the difference!

You may not be ready to sell your business, if:

1 . All of the information necessary to run your business is in your head . This is especially true if you have trade secrets or other sensitive information that is key to successfully running the business. This information needs to be tangible so a new owner can access it as well as protect it.

2. The business’ financial documents are not in order and have not been evaluated by a CPA . This is a huge red flag to a potential buyer. There can be no cutting of corners when it comes to the business’ financial statements. Get your documents in order well before you ever plan to list.

3. Pre-sale due diligence has not been performed . When a potential buyer starts to look at your business, he or she will almost certainly perform their own due diligence, which will uncover any issues your business has. If the first time you learn about problems is when the buyer discovers them, he or she will have a huge advantage in

Certified Public Accountants come in many forms. Some focus purely on doing taxes at the end of the year while others prepare financial statements, manage payroll, assist owners in preparing their businesses for sale, assist prospective buyers in obtaining loans to buy businesses, and much more. Additionally, there are CPA firms that have become a one-stop-shop for all of your financial needs. Regardless of the situation, there are three things you can do to make sure you are finding the best CPA for your business.

1. Communication Skills

This may seem obvious, but let’s delve into what it actually means. This goes beyond whether you can get through to your CPA when you try to call him or her, although this is an important first step. When you do talk, do you understand what he or she is saying? Many CPAs use jargon when speaking to clients, which may sound impressive but does not help them understand what is going on with their finances. Find a CPA that can explain things to you in layman terms.

2. Ask for References

This is KEY to finding the right CPA for your business. Many business owners believe that just because a person has the title “Certified Public Accountant” that they are automatically trustworthy and a good fit for any business. Think about it, you are hiring this person to see some of the most sensitive financial information you have. Obtaining a reference is a small step you can take to ensure the CPA you hire is credible. Ask him or her for three to four names and