For owners of legacy businesses, the first time they sell their company is often the last. With only one chance to maximize the value that will be leveraged during life after business, it's important to get it right.
Mark Jensen, a member at Jensen & McComas LLC, offers an overview of the arc of an M&A deal — from assembling the deal team to the day of close. He offers tips on what to do and what not to do, and how to deal with the emotional issues that come with selling what is often a life's work.
Here's an excerpt:
“The deal is going to run at a certain pace, and you really can't rush it because the people with the money are going to insist on all the things we've talked about — due diligence and negotiating documents and things,” Jensen says. “So, don't become impatient. And don't get insulted when people question your business or your business judgment or your financials or anything about your company.”
