{"id":4051,"date":"2019-08-01T21:56:00","date_gmt":"2019-08-01T21:56:00","guid":{"rendered":"https:\/\/fusionwm.com\/?p=4051"},"modified":"2022-10-12T22:02:16","modified_gmt":"2022-10-12T22:02:16","slug":"selling-your-business-dont-make-this-big-mistake","status":"publish","type":"post","link":"https:\/\/fusionwm.com\/selling-your-business-dont-make-this-big-mistake\/","title":{"rendered":"Selling Your Business? Don\u2019t Make This Big Mistake!"},"content":{"rendered":"\n
\"Selling<\/figure>\n\n\n\n
<\/div>\n\n\n\n

We see it far too many times: entrepreneurs who spend their lives building extremely successful companies, only to leave significant sums of money on the table when they decide to move on and sell their businesses.<\/p>\n\n\n\n

Why? Typically, it\u2019s because the entrepreneurs take on too much of the sales process themselves and don\u2019t enlist the professionals who can help them maximize the amount of wealth they walk away with.<\/p>\n\n\n\n

Don\u2019t make that mistake. If you\u2019re planning to sell your company\u2014soon or at some point down the road\u2014you can benefit greatly by assembling a \u201cdeal dream team\u201d of experts who can potentially deliver the best outcome possible.<\/p>\n\n\n\n

Here\u2019s what that deal team should look like\u2014and how to build and manage it to achieve maximum impact on the sale of your business.<\/p>\n\n\n\n

<\/div>\n\n\n\n

A lack of talent<\/h1>\n\n\n\n

It\u2019s easy to understand why entrepreneurs might be wary of hiring a team when they go to sell their companies. After all, their success has often been driven by themselves\u2014their actions, their decisions and their relationships. Bringing in \u201coutsiders\u201d for a sale can feel uncomfortable and unnecessary.<\/p>\n\n\n\n

But think of it this way: You\u2019ve worked for years, probably decades, to build tremendous value in your firm. Now, you\u2019ve got one shot to monetize that value. A moment like that is no time to revisit your \u201cchief cook and bottlewasher\u201d days.<\/p>\n\n\n\n

And yet, the vast majority of corporate mergers and acquisitions attorneys we surveyed told us that many entrepreneurs fail to build a deal team that will maximize their success (see Exhibit 4). Consequently, many business owners are likely missing out\u2014getting less for their companies than they probably could\u2014because of a less-than-exceptional deal team.<\/p>\n\n\n

\n
\"\"<\/figure><\/div>\n\n\n
<\/div>\n\n\n\n

Who should be on the team?<\/h1>\n\n\n\n

Getting your deal team right will meaningfully increase the probability of getting the deal done. Conversely, a poorly functioning deal team can lead to a lower price for your company or even no sale at all.<\/p>\n\n\n\n

The following types of professionals should be among the people you consider for your deal team:<\/p>\n\n\n\n