Permanent Podcast: Real Talk About Private Equity and Buying, Selling, and Operating Small Businesses
The Role of Advisors: Hiring An Intermediary (EP.15)
Sep 23, 2019
Learn about the importance of hiring an intermediary in the sale process of a business, their role in protecting information and facilitating successful deals, and the qualities of good intermediaries in marketing a business.
18:19
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Quick takeaways
- Hiring an intermediary can provide crucial assistance in completing a business sale, from sourcing buyers to managing negotiations and emotional aspects.
- Selecting the right intermediary requires evaluating their fit with the seller's goals, experience, references, and ethical behavior.
Deep dives
The role of an intermediary in the sale process
When selling a business, it is crucial to consider hiring an intermediary, also known as a broker, investment banker, or deal advisor. Intermediaries provide various services to help complete the transaction, such as sourcing potential buyers, organizing business history documentation, negotiating deals, and managing the emotional aspects of the process. Hiring an intermediary can be essential, especially if the seller lacks experience in these areas or is unable to dedicate enough time to the sale process.
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