What to Expect from an Initial M&A Consultation

When you have selected the mergers and acquisitions advisor that you want to help you with the process of selling your business, you will have an initial consultation –this should always be a free, no-obligation meeting as it is really a chance for you to get to to know the team who will be helping you move to the next stage of your life.

Here’s what to expect from your initial consultation.

Getting to know you

The consultation is actually a chance for both sides of the table to get to know each other –your M & A team needs to learn about you as much as you need to learn about them. The process of taking a business to market, finding and securing a buyer, negotiating, conducting due diligence, and closing the deal is going to be a long one, so both you and the consultants need to be happy working alongside each other for the duration.

Past, present, future

Many of our clients come to us with a lot of historical information about the business –financials, performance, growth, etc. This is only natural:if you have spent years of your life founding and running a company, then you will have that information readily available. The initial consultation, though, is just as much about the present and the future –what is it that is driving you to sell your business now, and what are your goals.

It is a cliche, but the old interview question ‘where do you see yourself in five years' is one that you will probably be asked in this context. This is not designed to put you on the spot or look for any deeper meaning –your consultant wants to know what your goals are so that they can help you achieve them. It is also a great way of identifying any cold feet at a very early stage and saving everyone some time –if you have never truly considered what your life will be like (realistically) without the business taking up such a large part of your time before, then doing so now will help you sharpen the idea of no longer being involved with the company in your mind.

What’s next?

When the meeting concludes, your mergers and acquisitions firm will take some time to formulate the next steps. This should be a clearly articulated strategy that gets you from where you are now, to where you need to be to make the goals you have outlined a reality.

If both you and your consultancy team are happy with the budding relationship, you will then formally agree to work together. Congratulations –step one on your journey to selling your business is complete!