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Our final reprint for the summer is a blog written for The Successful Transition Planning Institute on preparing your company for a sale. Enjoy your last days of summer!
Preparing the operations of your business to maximize your profit in a sale. I am honored to be a guest blogger this week for the Successful Transition Planning Institute. Excerpt of the blog is below, or click here for the full story. Regardless of what ‘operations’ means in your company, there are things you can do to get your operational house in order before you bring in a formal transaction team that will maximize the value of your company and get you the highest possible price in a sale. There are some operational documents that every M&A professional will require. If you have most of that completed when they walk in your door, it will save you money and time during the critical due diligence phase, and it puts forth a great first impression as a company that is organized and efficient. There are also issues that arise during due diligence that require immediate attention and can be quite time consuming – the more you can do in advance, the more time your team will have to address those urgent items as they arise. As a general rule, you should leave yourself 6 months to review your major processes and either update existing documentation or create documentation where none exists. Regardless of your company’s size, you can create simple and straightforward documentation for each of these items – never create 10 pages when 1 page will do the job. FULL STORY Debbie Millin is the President of UpperLevel Solutions - a Boston-based firm offering part-time and interim Chief Operating Officer services, operational assessments and executive project leadership. www.upperlevelsolutions.com Comments are closed.
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