In today’s seller-friendly business environment, buyers are eager to snatch up hot companies, and are willing to pay top dollar. If you’re looking to sell your privately held company, there are six key considerations to keep in mind that should increase your sales price, put more proceeds in your pocket after the sale, make the sale process flow smoothly, and maximize your work opportunities once the sale is completed.

1. Properly Assemble Your Team: It’s critical that you involve your legal counsel, accountants, and financial advisors at the outset of the sale process. These professionals can assist with structuring the transaction and financial planning to minimize the tax consequences of a sale. Make sure your legal counsel has experience representing sellers in mergers and acquisitions. Consider hiring an investment banker, even if you are contacted directly by a potential buyer. Bankers can help you determine the value of your company and generate interest from multiple buyers, driving your sales price higher. Also, look for a bank that focuses on, or has recent experience with, your specific industry (e.g. software, consumer goods, medical device).

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