Welcome to Phase III of the selling process: the closing – a.k.a., the fun part. You’ve done your research, identified your targets and just maybe met your match. You’re almost ready to say, “I do.” But first, let’s backtrack. (We know, the suspense is killing you.)

After you’ve (1) narrowed down your potential buyers; (2) received preliminary “indications of interest,” or IOIs; and (3) conducted company visits, you’ll ask for term sheets from the buyers who are still in the running.

So, you’ve been introduced to the development phase of selling your company. We now bring you Part II of our mini-series: the marketing phase. At this point in the process, you should know your company like the back of your hand, and your Confidential Information Memorandum should be complete. It’s time to go to market and meet your future match. Let the games begin!

Not to say this is a game – we’re referring to the back-and-forth that occurs as you search for and ultimately select your buyer. To fall back on our tried-and-true analogy – it’s like dating. Remember those notes you used to pass to the cute kid in class? Something along the lines of: “Do you like me? Check yes or no.” Well, things haven’t changed much since elementary school.

So, you’re ready to sell your company – and if you did your homework, you don’t have any prior engagements holding you back. Where do you start?

Back in May, we introduced you to the three phases of selling your company: development, marketing and closing. Given that it was the height of wedding season, a marriage analogy seemed appropriate. We’ve decided to take that comparison and run with it: Our next few posts will devote an in-depth discussion to each phase. For purposes of this mini-series, feel free to think of us as your FourBridges Relationship Advisors. (If this goes well, we’ll consider adding “Bridge to Marriage” to our list of services.)

In a previous post, we likened the process of selling a company to courtship. When things go well, the parties in question unite in marriage – the company sells, the deal closes.

But those of us who have made an appearance on the dating scene – or have yet to escape it — know that things don’t always go well. One minute, you’re on the fast-track to wedded bliss; the next, you’re tearing up photographs and listening to “One is the Loneliest Number” on repeat. (Maybe that’s just us.)