II. Confidentiality: Before - During - After The Sale
Another major mistake we run into are that business owners whom we meet have already made the public aware of their intention of selling. This might be a for sale sign, Craigslist posting or the owner tells his favorite bartender. The moment it becomes public knowledge we can almost guarantee that the eulogy can then be written.
You should NEVER tell anyone of your intentions to sell unless you have supreme trust in them. Just ask yourself - what would your employees do if they knew you were selling (they'd find another job). What would your customers / clients do (they'd find a new business to use). What about creditors (they'd pull credit) or competition (you can only imagine).
So keep quiet however if you have made it public then reach out to someone like us ASAP to save it!
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