Selling your Business – The Team

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Hi, this is Judi Otton with GrowthCast and today we are wrapping up our series on exiting your business. I will post the link to the entire playlist below ( But today I want to talk to you about who you need in the process. Who is your team that’s going to get you across that finish line? First of all, you really need a business broker or an investment banker. These are two different functions but they will, you will need one or the other depending on the size of your deal. If your business is worth roughly less than $10 million, you’re probably fine with a business broker, especially if it’s a single business, fairly simple. If you get into anything larger or more complicated, you may want to be looking for an investment banker who is also going to help with financing, stock exchanges, and will be more familiar with some more complex deal structures. Second of all, you’re going to need an accountant that specializes in M&A – Mergers and Acquisitions. The tax treatment of the funds resulting from this can be very different depending on how this deal is structured and it’s such a big amount of money that you really want to make sure you get it right. Third, you need an attorney that also specializes in M&A to put the documents together, make sure that the deal is solid and all your t’s are crossed and your i’s are dotted. Fourth, You need your CFO. This person is going to be your partner in crime through this whole deal. They will help you answer any questions that come up during due diligence, they will help you prepare all the documents that are needed. So this person is going to be a key throughout this transaction in this process. And then finally after the deal closes, you’re going to want to work with your financial advisor and probably an estate planner to make sure that you’re doing the right things with all the funds that you’re getting, whether you get them the day it closes or whether you’re paid out over a period of time. Again, this is Judi Otton with GrowthCast . This is the last video in the exit planning series and I’ll post the link down here ( I’ll be back next week with another Fiscal Fitness Tip of the Week for you.

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