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8 Things to Do Before Signing a LOI

Welcome back to my weekly articles on business building. Understanding that the more prepared your business is for a sale, the better the outcome will be. We recommend that business owners be ready for a sale at all times. One good reason for this is that you might get an offer out of the blue – this is what happened in my business. Once a Letter of Intent is signed the balance of power in negotiations swings in favor of the buyer, so it is incredibly important for an owner to have clarity on a number of things that will ensure that due diligence will be completed in a timely fashion, and so that you will receive the final value you hoped for from the offer.

76% of Canadian business owners hope to exit in the next 10 years. Only 1 in 10 having a plan for their transition out. Being unprepared may cost you both your legacy and your retirement.

8_Things_To_Do_Before_Signing_an LOI
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