There’s one aspect of selling a business that can’t be overemphasized, and that is the need for discretion. Being discreet is incredibly important because a leak suggesting that you’re selling your business can cause uncertainty in both your business and the business deal you’ve hired us to set up.
Here are a few reasons discretion is so important, as well as ways that we’ll work to protect your privacy.
Avoid Employee Flight: If information comes out that you’re considering selling, it’s very likely that employees will start to feel uncertain about their jobs. They may think that the purchasing company will roll in and start cutting jobs, and may start looking for jobs elsewhere. If you lose employees, it’s going to affect your business, which affects your numbers going into the sale. And when employees are out on job interviews and asked “why are you considering leaving your current job,” they might mention that your company is being sold, which simply reinforces rumors.
Proper Meeting Times: We just established that it’s important that employees aren’t clued-in to the idea of you selling your business. That’s why we’ll make sure to work around your schedule for meetings. After all, if you’re a restaurateur, you don’t want to be leaving the restaurant at 11:00 AM, as that can raise red flags among employees that something is up.
Non-Disclosure Agreements: While we will be advertising your business to our vast database of buyers, every step is taken to ensure that your business is well-hidden so that no one knows what business is up for sale. When we meet with potential buyers we require the signing of non-disclosure agreements (NDA’s) so that they are legally bound to secrecy.
Be careful what you say: We protect your confidentiality, but there’s nothing we can do to protect a seller from him/herself. Be very careful whom you tell when you’re considering selling. Don’t tell anyone at a bar, anyone at a golf course, or anyone in the office. It can only lead to strained relationships and may adversely affect the final selling price of your business.
Trinity Transaction Advisory will keep confidentiality when you’re selling your business and will do everything possible to get top-dollar.
