March 22, 2016
A faithful reader of my blog is developing his exit plan from his business of 28 years. He asked if he should use a broker to sell his business or negotiate the sale himself. And, is 20% commission of the sales price reasonable? First, I’m usually in favor of using a broker instead of trying to sell your business yourself. The road leading up to that day can be full of potholes, hidden turns and dead ends – challenging, even for the most grizzled entrepreneurial veteran. Your expertise is managing your business. A broker’s is selling your business. 1. A good broker will go through all of the information that you would be providing to a buyer anyway to make sure you’re presenting everything in the best light and in a way that can command the highest price. 2. Brokers can do a lot of the background screening to make sure that only legitimate buyers are taking your time (especially as you don’t want your company’s confidential information shared all over the place). 3. Business…
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I know first-hand that running a knowledge-based service business has unique challenges. It’s so much easier when you have an advocate in your corner. Over the past 25 years, I’ve worked with thousands of New York business professionals who want a legal advisor to guide and support them as they navigate the business world.
With wide-ranging experience as a business attorney, strategist, and media authority, I bring the added power of a business lens to the legal issues my clients are facing.
And because I’ve been a business owner myself, I’ve lived through the soaring highs and devastating lows – like when my first law firm failed. So I understand what’s involved to serve great clients, detect business risks early and build a true legacy.
I can’t get those 12 years back. That’s why I have made it my mission to ensure that business professionals like you can become wise and discerning leaders, build a solid business, and live your best life.
