The objective of the Assessment phase is to get the project organized, fully-understood, and to get key partners agreeing to work together to achieve the client’s objective.
Starting with contracting, Assessment progresses to document collection and company analysis – to position the company for maximum benefit for the client.
The objective of the ‘Preparation’ phase is to prepare all documents in advance, to get the process running smoothly, and ready for quick-and-accurate closure.
Everything from the initial marketing plan to template/draft correspondence will be loaded and ready to move.
The objective of the ‘Marketing’ phase is to execute the plan, begin speaking with interested candidates, and to winnow the list of prospective buyers, based on their ability to finance the transaction and ability to operate the business.
The objective of the ‘Negotiation’ phase is to move Likely Buyers toward commitment, through NDA and a release of additional information (including company name), receipt of a refundable deposit, and by gaining agreement on all elements of the purchase in advance of presenting the Contract to Purchase.
The objective of Due Diligence is to satisfy the Buyer that the investment is ‘as expected’. This will involve organization of all documents, availability-for-interview of key staff and representatives (such as Accountant, Lawyer), and likely a site inspection.
The objective of ‘Completion’ phase is to assure that the deal closes, the Client is satisfied, the Buyer transitions as expected, and the final payment(s) are received.