What is the best way to sell my company?

How can I best sell my compa­ny - success factors

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

  1. Develop a strategy
  2. Create the documents
  3. The search for a buyer
  4. The conduct of negotiations 
  5. 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

TIPS for further reading:

How can I best sell my compa­ny - The process

Corona, Compa­ny Sale & Now - Part 1

The coope­ra­ti­ve model - When employees follow in the foots­teps of the compa­ny founders! - Part 1

Family-inter­nal business succes­si­on conti­nues to lose importance

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