Since most business owners go through this process only once in a lifetime, you don’t want to learn on the job. Here are a few important tips to know about preparing your private business for sale.

The best way to prepare for the sale of your family-owned business is to understand the process, prepare your company for the scrutiny that is commonly performed by buyers, and be ready when the time comes. Thoughtful advance preparations pay large dividends when the time comes to sell.

As a sales organization grows, there often comes a breaking point where individual team members can no longer move the needle by following their own agendas. A successful sales organization requires putting the appropriate people, processes, and technology in place to ensure sustained profitability.

In a perfect world, private equity investors are able to sit back after purchasing a promising portfolio company and wait for the returns to roll in. Unfortunately, what often happens is that several months in, the new company’s performance is underwhelming.