Selling a business is one of the most significant steps a business owner can take. Unlike selling a house, where open marketing is the norm, the sale of a business has to be handled with discretion. Confidentiality is not just a best practice. It is one of the most important ways to protect both the Seller and the business itself throughout the process.
When a business changes hands, it’s easy to focus on the dollar signs. Buyers want to know if they’re paying a fair price. Sellers want to know if they’re getting rewarded for years of hard work. But behind the numbers, there’s something bigger at play: selling a business is not just a transaction, it’s a transition.
When a business owner begins the process of selling, one of the first questions is: “How much can I get for my business?” Valuation plays a key role, but it is important to recognize that the value calculated for a business is not always the same as the eventual asking price or the final sale price.
A valuation provides a baseline. What a Seller ultimately lists for, and what a Buyer ultimately pays, can vary based on goals, timing, and deal structure.
By Owen Murray, The BusinessSellerCenter
A business broker’s role is to serve as an intermediary and as a trusted advisor to their client. With that, the broker should always be acting in their client’s best interest. This does not mean, however, that a business broker should avoid challenging either party involved. In fact, it is often in everyone’s best interest for the broker to take on the role of Devil’s advocate. By asking the tough questions, pointing out inconsistencies, and pushing for clarity, a broker can prevent misunderstandings that could derail the sale later on.
