Selling your company is a balancing act. The larger the number of people that know about the deal, the more possibilities for interest. Unfortunately, the more parties that know, the larger the risk that your competitors, employees, customers, or suppliers learn about a possible sale. So how do we maximize our marketing, while minimizing your exposure? It starts by being smart about who we contact and selective about what we disclose.
The keys to preventing anyone besides you and serious buyers knowing your company is for sale are to:
- Use a third-party (such as Orion) for an added layer of protection
- Prioritize and contact potential buyers in the order that is most likely to yield the most interest
- Contact only the right people in each company
- Provide them only with the information they need to know
- Identify and protect your key information by divulging it only at the appropriate stage of the transaction
It is always advisable to tell the fewest number of people possible that your company is for sale (unless they could be someone might want to buy). The last thing you want is for word to get out and your customers leaving you, your competitors telling everyone, your employees finding another job, or your suppliers increasing your prices. Adhering to the above steps and a very controlled process is the key to the market not finding out until the “deal is done”.
Contact us to learn about how to put your plan into action.