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Home > Tools and Resources > Selling a Business > The 15 Steps in the Selling Process

The 15 Steps in the Selling Process

By The BizQuest Staff
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  1. Consider, and make the initial decision to sell your business.
  2. Evaluate your business, and establish a preliminary valuation.
  3. Engage your professional advisors.
  4. Conduct a thorough due diligence of your business.
  5. Prepare a detailed selling memorandum for the business.
  6. Identify the universe of qualified, potential buyers.
  7. Market the business to potential buyers.
  8. Negotiate with, and receive offers from interested buyers.
  9. Conduct detailed due diligence on the buyers who are finalists.
  10. Execute a letter of intent with the proposed buyer.
  11. Assist the buyer in its due diligence.
  12. Structure, and complete documentation for the sale.
  13. Sign the purchase agreement.
  14. Satisfy the conditions to the closing.
  15. Close the sale.

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