CPA / Professional Advisor: How to Successfully Assist Your Client in Selling Their Company

by Martin Hansen

CPA / Professional Advisor: How to Successfully Assist Your Client in Selling Their Company

Whether your client purchased a small business a year ago, or they have spent years — maybe even a lifetime — building their business, it’s critically important for them to have an exit plan and a process to achieve their exit goals.

Once they are ready, assist them with putting together an initial plan with the following elements:

Assist them with researching their specific industry:  where was their industry five years ago, where it is currently, and what are the industry experts saying the future holds for their industry? Many clients will need your professional assistance beyond going on the internet and conducting some basic research.

Confirm an exit date with your client that is no less than 9 months in the future; it’s best to choose a date that is 12 to 18 months prior to an exit/liquidity event. The more time your client has to get the business ready for sale, the better.

Get your client’s business ready for a sale which will entail two critical tasks:

  1. Assist your client with the necessary business data that will be necessary and get it stored electronically for easy transfer to a potential buyer once you and your client have qualified them and have executed the necessary non-disclosure agreement.
  2. Assist your client with preparing their location(s) for possible tours or inspections, or, as they say in the Navy, get your client’s location(s) “ship-shape”.

Now that these critical tasks are complete, you are ready to assist your client with marketing their business to potential sellers, if they do not already have one lined up. Good luck!

For a results-driven workflow to guide the entire transaction, including assisting your client with getting their business ready to sell, consider using DealMaker360 Pro Edition

70% of small business transactions fail to close.
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