Most owners of businesses have little to no experience selling a business. This can create significant imbalance when business owners put their business on the market, and must negotiate with buyers who have ample experience buying businesses. So what are some strategies for successfully finding the right acquirer?

Get the Right Help
Don’t make the mistake that so many businesses make. Business owners are often DIY type. So they want to manage the sale on their own business, too. But when a novice (the owner) negotiates with a pro (the buyer’s team), they often get left out in the cold. Moreover, they may not know how to prepare for due diligence, craft well-worded agreements, or protect their own interests.

Privately-owned businesses need professional M&A advisory support from a skilled and experienced firm, such as Carpenter Hawke. This levels the playing field and ensures you get the highest price and the most favorable possible deal terms.

Avoiding the Mistakes of the Past
For instance, if a team comes together and forms their own business following a merger by the company they worked for, they may dislike certain aspects of the merger, such as how staff are treated or poor management of the cultural shifts associated with the merger. When companies embark on the M&A journey, they should use these experiences to guide their choices.

So what does this have to do with finding an acquirer? Plenty. The right acquirer is one who helps your company become better by avoiding the mistakes of the past. And working with an expert deal team can help you fairly assess any acquirers who come knocking—not just jump at the first deal that comes along.

The Role of Mutual Respect
The best mergers build upon mutual respect between deal partners. This makes the negotiation process easier, eases the challenges of cultural fit, and helps the two teams more effectively merge. Moreover, the feeling of mutual respect can shepherd the deal to a smooth and fast completion. It eases employees’ minds and makes talking about issues much more feasible.

This feeling of mutual respect can also affect how the management teams interact with one another. If they sense that the merger is spurred by true respect and a commitment to mutual greatness, they’ll approach it with positivity and a commitment to making it work. That attitude will color the attitudes of people throughout the organization, and ultimately play a major role in supporting the merger. Respect is everything.

About Carpenter Hawke
The decision to sell your business is a difficult one. Advance planning, we believe, is the key to successful selling your business. Many factors impact the outcome, such as confidentiality, valuation, timing, expectations, etc. These factors make the process complex. Our experience and knowledge of the appropriate steps enable Carpenter Hawke to provide strategy and plan formulation to suit the needs of each sell side client. New England based but we work, Locally and Globally!