I think the notion of ‘Preparing your business for sale or Exit’ is a complete oxymoron. When I hear professionals spout on about this increasingly fashionable topic fuelled by the impending retirement of the baby boomers I often wince and want to run in the other direction denying I ever worked in M&A. Why?
Go to any business broker or M&A Firm to sell your business and the first thing they’ll probably do is start preparing a detailed Information Memorandum (IM).
Wind forward a few weeks or months and most business owners work out that this was a very bad idea.
So why is producing an Information Memorandum the completely wrong approach to selling your business?