How I Help: Selling a Business - Engage a Lawyer Early
Updated: Jul 26, 2021
I recently got a call from Max about the sale of his construction company. Unfortunately, he called me right before the closing date, after he had already finished negotiating the key terms of the deal, and the due diligence period was over.
It was too late for me to fix anything.
Sellers often get more money when the business books, corporate records and contracts are clean and in good order.
A business sale is not the time to go it alone. If Max had assembled a team of advisors well before the business was offered for sale, including at least a lawyer and an accountant, he could have ended up with more money in his pocket with fewer liabilities and less risk.
Are you ready to sell your business and retire to the beach where all you have to worry about is your next margarita? Get a team of advisors before you do anything else.