While the preparation stage is undoubtedly crucial in enhancing your business' attractiveness and readiness for the market, the true prowess of an exit adviser is often tested during the actual sale transaction. It is here where theory meets practice, and the tangible experience of the adviser becomes invaluable. It is imperative to ensure that your exit advisers have a proven track record of not just preparing businesses for sale but also successfully selling them.

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Practical experience matters

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Experienced advisers with an impressive history of actual sales are likely to have developed a robust network of potential buyers and industry contacts, understand the nuances of deal negotiation, and be able to adapt to real-time challenges that can arise during the sales process. They have witnessed first-hand what works and what doesn't, knowledge which is difficult to glean purely from theoretical understanding or from preparation alone.

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Not solely a legal or accounting function

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There's a world of difference between strategising for a sale and executing one. Therefore, when selecting exit advisers, consider those who can demonstrate a solid pedigree of actual sales over those who only emphasise preparation. These seasoned advisers bring a wealth of practical wisdom and proven strategies that can considerably heighten the likelihood of a successful and profitable business exit.