Why Hire An Intermediary To Sell Your Business

Why Hire An Intermediary To Sell Your Business

By Jim Zipursky

March 20, 2008

Most owners of privately-held businesses are the epitome of entrepreneurship. Most entrepreneurs are successful because of their “can-do” attitudes as well as their willingness to do whatever is necessary to make their businesses successful.

When it comes time to sell their businesses, their “hands-on” attitude leads many business owners to the belief they are the best salesman for their companies. “Who knows my company better than I,” many business owners say to us, “How can you do a better job describing my company than I,” they ask.

We, as M&A professionals, never purport to know more about our clients’ businesses than our clients. Neither would anyone at CFA espouse to know each and every buyer who could ever be interested in our clients’ businesses.

However, there is more to selling a business than just knowing about the business and who the buyers are. Often times, we tell our clients we are hired because we know how to “drag a deal across the finish line,” literally and figuratively.

We calculate our team spends approximately 1,100 to 1,500 hours working on any single transaction…between 50% and 75% of a full-time job for one person. Before you consider selling your business on your own, ask yourself, “If you are already working a full-time job running the business; do you want another part-time job selling it as well?”