How to Assemble a Deal Team

Unless you are well versed in business law, finance, tax, and brokering sales, you need a deal team.  Experts ensure a smoother, more efficient sale process with less headaches.  Start by finding the following teammates, before you try to sell your company:

  • Transaction Attorney:  A transaction attorney is a specialist in business sale transactions.  These attorneys assist in negotiating terms and protecting seller’s rights throughout the sale process and are absolutely critical to closing a sale.  Skilled attorneys understand potential tax implications and how to structure deals effectively.
  • Accountant:  The accountant you select needs to be well versed in the tax implications of business sales.  Accountants can advise sellers on how much to expect to pay in taxes on a sale.  Working with an attorney and intermediary, an experienced accountant will ensure the deal is structured so you don’t pay more in taxes than needed.
  • Financial Planner:  A financial planner can help you understand whether or not the net proceeds of a sale will accomplish your own personal financial goals.  These advisers show you how to best protect and preserve the principal through the use of trusts and in-kind exchanges.  Financial planners can also help you to create a post-sale wealth management plan.
  • Business Intermediary:  Also known as business brokers or merger and acquisition advisers, assist owners in buying and selling businesses.  For sellers, this includes finding prospective buyers (confidential marketing), pre-screening buyers, facilitating meetings, negotiating terms and finalizing the deal.  Intermediaries are also critical in identifying the right sale price and terms. For more specifics, here are 8 Key Characteristics your intermediary should posses or contact us to see if we are a right fit for your team.

All deal team members should have appropriate credentials for their field, a strong track record, and be people you like and trust.  Selling a business is a very personal endeavor and you need to be completely comfortable with who you work with.  If you need recommendations on any of these roles, contact us and we can provide a few contacts.

This is step 3 in our 9 Step Sales Process, view the full process here.

2018-01-05T14:18:57+00:00