23 Feb Boss Talk: The Process of Selling Your Business
In episode 2 of “Boss Talk”, business brokers Jim Parker and Carey Sobel discuss the intricate steps and effective strategies in the business selling process, covering both pre- and post-sale phases. Crucial areas like pre-listing, financial analyses, marketing preparation, potential buyer identification, due diligence, and closure are explored. The discussions emphasize the necessity of confidentiality, professional presentation, and communication among parties. They remark on the broker’s laborious role in managing the process, involving insurance considerations, formulating business plans, and synergizing with all relevant stakeholders. Also, they shine a light on the post-sale period, including the seller’s potential ongoing role and the importance of maintaining communication between buyer and seller. The video provides insights for those new to selling businesses, underlining the relevance of preparation, emotional intelligence, and relationships in the entire process.
