Emphasizing the Importance of Preparation and Audited Financial Statements in Selling a Business

Negotiating a clear letter of intent keeps a seller’s position strong throughout the sale process. Bill Snow returns to discuss the top four mistakes sellers make with the LOI and his tips on avoiding these issues. He highlights the importance of planning for taxes and understanding the tax implications of a sale from the outset, how valuations vary and what can impact them, setting up a data room for due diligence before the LOI stage, the dangers of having unrealistic expectations, and the costs of not being prepared.

View the complete show notes for this episode.

Learn More:

• Negotiating the Letter of Intent
• Letter of Intent
• A Guide to M&A Negotiating Tactics
• Earnouts When Selling or Buying a Business | Complete Guide

Additional Resources:

• Planning to sell your business? Schedule a free consultation today.
• Download a free PDF copy of The Art of The Exit: The Complete Guide to Selling Your Business and Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue.
• Purchase your copy now of A Beginner’s Guide to Business Valuation | The Exit Strategy Handbook | Closing the Deal
• Contact Morgan & Westfield to request a free copy of Jacob Orosz's latest book, Food and Beverage M&A: An Insider’s Guide to Selling a Food or Beverage Manufacturing, Distribution, or Grocery Business.
• To suggest guests, topics, or questions for future podcast episodes, contact Morgan & Westfield.

Listen to Other Episodes:

• Do You Need Reps & Warranties Insurance When Selling a Business?
• Expert Advice on How To Sell Your Middle-Market Company
• How to Plan the Sale of Your Business from Start to Finish