Video 1 – Mitigating Risk When Selling a Business

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Rob Goddard:

So Steve, mitigating risk on a deal, selling a business. Top tip?

Steve Barry:

Be honest, be open, be up front and do your pre deal preparation to make sure that we’ve thought about it and developed our answers and responses for it.

Rob Goddard:

Very good. Mike, anything to add?

Mike Whittle:

Planning and process I think would be the key thing that I’d add to that. So one of the things we pride ourselves on is we follow a very well warped and transparent process in preparing a company to go to market. And we hit all the bases doing that and as a result we pick up all the information.

Rob Goddard:

Yeah. And I would just add, if you wake up one morning and decide you want to sell your pride and joy, your business, don’t do it tomorrow. Probably, don’t know what the guys think, a year or two in preparation, typical?

Mike Whittle:

Our sales process takes a year, on average, sometimes longer. So the preparation to that process, typically in our world, is anything up to 12 months beforehand. So if you think about a two year window, I think that would be a fair assessment of where you should be.

Rob Goddard:

It’s years, not months.

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Alternatively, If you would like to discuss a potential business sale with one of our Client Directors, please either call Amanda on 0118 959 8224, email agale@evolutioncbs.co.uk or Make An Online Enquiry.

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