Ready to sell? Talk to your spouse and trusted tax, financial and legal advisors. Beyond that, keep it a secret.
Confidentiality is extremely important in almost any business sale, merger or acquisition. When stakeholders think your business is for sale, it creates dangerous uncertainty. Valuable employees start looking for other jobs, vendors tighten credit terms, and competitors use it as an entry point to poach your customers.
The average business takes 9 to 12 months to sell. If confidentiality is breached early in the process, it can put the company in a downward spiral. Suddenly you’re not only running a business, but you’re busy putting out fires and patching holes in the dam. That will discourage potential buyers. Buyers want to buy a stable and successful operation with the only changes occurring when they are ready to make them.
For further information or to discuss a current business sale, merger or acquisition need, contact Al Statz, 707-781-8580 or firstname.lastname@example.org in our Petaluma, California office.