Thinking about selling your business? Read this first

Selling a business isn’t just a transaction—it’s a transition, and for some, it can be an emotional one. And if you’re not prepared, it can cost you time, money, and your peace.

I’ve worked with many business owners through this transition, and I know one thing for sure: every seller has different priorities. Maybe you want the best price, or maybe what matters most is protecting your employees, your legacy, or simply making the process as stress-free as possible. My job isn’t just to handle the legal side—it’s to understand you and make sure your sale aligns with what really matters to you. 

As an experienced lawyer who helps business owners exit successfully, I’ve seen firsthand what separates a smooth, profitable sale from a stressful, drawn-out process. The good news? With the right preparation, you can maximize your value, minimize headaches, and walk away knowing you got the best possible deal. 

Here are some tips before putting your business on the market: 

•  Get Your Financials in Order – Buyers want clean books, clear revenue streams, and no surprises. Work with your accountant now to ensure everything is organized and transparent. Don’t give the Buyer a reason to negotiate a lower purchase price.

•  Tidy Up Legal Matters & Contracts – You cannot hide your skeletons. Pending lawsuits, missing agreements, or material non-compliance with laws can scare off buyers, or at least give them a great reason to renegotiate the purchase price or make an indemnity claim post-closing. Ensuring everything is buttoned up before the due diligence process makes for a smoother sale.

• Know Your Value (and Defend It) – Buyers will negotiate. They are sophisticated. Be prepared with a solid valuation and the data to back it up. Understanding your worth is key to getting the price you deserve. 

•  Have the Right Team in Place – A business sale isn’t a solo endeavor. A skilled lawyer, accountant, investment banker and/or advisor who specializes in M&A can help you avoid costly mistakes and get you the best possible deal. So important to get them involved before you execute an IOI or LOI.

Selling your business should be a reward, not a burden. The right preparation doesn’t just make the process easier—it ensures you walk away on your terms.

Thinking about selling? Let’s make sure you’re ready.

McDonald Hopkins M&A attorney Vanessa Bailey is available for questions regarding Business Counseling, Mergers & Acquisitions, & Private Equity matters.