The Mergers and Acquisitions Team
The most important thing is that this team must be as small as possible.
Another is that although you are the one who pays the bills (the owner of your business and maybe the CEO, too) you are the person who will lead this small team, but you will not lead the process of selling your business. You do not have the time and maybe the necessary knowledge for that. This will be done by your M & A consultant (hopefully you will choose an INCz consultant for that). And between the members of this sales team will be a true partnership, a mutual engagements and expectations from each other.
For example, you will not only be busy with the good functioning of your business, but you will be overhead with its excellent functioning at a level and intensity as it may have never been before. That's because in order to get the best price for your business it has to exceed buyers' expectations and your sales level predictions. That's the only way you could have an edge in the final bargaining that would lead to an increase rather than a downward adjustment of the buyer's price. At the same time, you will supervise the smooth running of the sales process, achieving the partial goals, meeting potential buyers, answering their needs and questions (as you are the only real expert of your business) and negotiating and deciding on points key of the sales process.
Your sale team will include:
Your chief accountant (CFO, financial manager or whatever you call it)
An M & A consultant
An experienced M & A legal consultant (or a small team of 1-3 lawyers specialized in M & A)
An external financial consultant
Except you, the most important member of this small team is your M & A consultant. That is the representative of the company you choose - the person in that firm who will keep in touch with you.
Read more about What a good M & A consultant do for you, here ...