Selling your business is an emotional rollercoaster. It is a unique mixture of fear, uncertainty, excitement, arrogance and eventually relief. Knowing the appropriate time to feel each of these emotions comes from experience, and understanding what to expect may be helpful when you eventually sell your company.
Over the years I’ve realized that receiving your first letter of intent or “LOI” is a very confusing part of the business sale process. Experienced sellers (there are not many of these) realize there is about a 40 percent chance that a LOI will actually result in the sale of your company. In fact, the majority of LOIs never actually turn into a closed deal. There are many reasons for this, and how you approach, think about and react to your first letter of intent will dramatically impact your opportunity for a successful sale.
To read the full, original article click on this link: Selling Your Company? Understand the Intent of a Letter of Intent
Author: Todd Taskey
