In the first part of the blog you learned the 5 points on how to best sell your company:

Develop a strategy
Create the documents
The search for a buyer
The conduct of negotiations
The successful handover

In this part you will learn about the 6th point:

The success factors

Create a project plan

Many sales fail because there is no plan. This also has a cost factor. The process of selling a business costs: your own working time, your own energy, and the expenses of the service providers, the consultants. If you don't have a plan that you follow, then there is no time and cost control.

Involve a suitable adviser

Just as you are an expert in your market segment, there are experts for the sale of a company. They will guide you through the process, steer the process and be at your side as a sparring partner at all times. Make sure that the advisor only acts for you, that he acts in your sole interest. In addition to the M&A advisor and the project manager, you will need a tax advisor and a lawyer. Both must have a good knowledge of the sale of a company and its legal and tax consequences and be involved in your project at an early stage.

Be master/woman of the situation at all times

Be prepared for the unexpected. Just as you manage your company, you should also manage the "selling the company" project. It is not enough to put the process in experienced hands. You yourself are the essential success factor for your sale. Communicate promptly, openly and transparently. Plan enough time ? free yourself as much as possible from day-to-day business, make yourself superfluous! Then the transition afterwards will also work better. The process is exhausting, it is a marathon and not a sprint ? so prepare well for it!

Selling the company - also giving time and space to feelings

Give yourself enough time, do not forget the emotional side. The worst thing is when you cancel the appointment the day before the notary appointment ? because you are not ready yet! We have experienced this not only once! Get your family and close friends on board. Find a new job you can look forward to! Plan your third stage of life, and celebrate your new freedom!

You can learn more about the topic of "letting go" in the book "Company Succession - The Art of Letting Go" by Nils Koerber, founder of KERN.