Many sellers believe the deal is done once they sign a letter of intent. After months of preparation, marketing and negotiation, a buyer has put a price and terms in writing. It feels like the finish line. In reality, that is when the real work begins. The letter of...

When owners start thinking about selling, one of the first questions they ask is who should handle the sale. A business broker? An investment banking firm? The answer usually becomes clear once you answer an earlier question: who is likely to buy your company? The...

“What is my company worth?” sounds like a question with one right answer. It isn’t. The same business can carry very different values depending on why you are asking, who will rely on the answer, and which definition of value the analyst is told to use. That...