The Process

What to Expect

Phase 1: Pre-IOI (Initial Exploration & Qualification)

This is the first step in getting to know each other, often before any formal offer is made.

What happens:

  • Introductory call to understand your goals and what you've built

  • High-level review of the business model, revenue, team, and customer base

  • You share basic financials (3-year P&L, revenue breakdown, etc.) under NDA

  • I assess strategic fit and alignment with my acquisition criteria

  • You ask questions about me, my process, and my approach to ownership

Goal: Determine if it makes sense to proceed with deeper discussions. If so, I’ll prepare a non-binding Indication of Interest (IOI).

Phase 2: Pre-LOI (Diligence & Deal Structuring)

This is a mutual discovery process to determine if we want to move forward together.

What happens:

  • You provide additional materials: customer concentration, employee org chart, service mix, etc.

  • We hold deeper Q&A calls to explore financial performance, operations, and transition goals

  • We discuss seller priorities: timeline, involvement post-sale, earn-out/seller note potential

  • I conduct light diligence (still informal) prior to engaging lenders and professional advisors

  • I prepare and present an IOI outlining a preliminary valuation range and deal structure

Goal: Agree on an overall valuation, terms, and transition plan. If aligned, I’ll submit a formal Letter of Intent (LOI).

Phase 3: Post-LOI (Exclusive Due Diligence & Close Preparation)

This is where the real work begins, with an exclusive focus on finalizing the deal.

What happens:

  • You grant exclusivity (usually 60–90 days)

  • I conduct formal due diligence with legal, financial, and operational advisors

  • Third-party Quality of Earnings (QoE) report is completed

  • We finalize the deal structure (e.g., purchase price, earn-out, seller financing, working capital)

  • Legal teams draft the purchase agreement and closing documents

  • We build a transition plan: communication, employee retention, client handoff

  • You continue to run the business while I prepare for ‘day-one’ transfer and operations

Goal: Close the transaction and begin a smooth, respectful transition.

Phase 4: Post-transaction

I step into lead the business and you help to stabilize the transition including mentoring the incoming team.

What Happens

  • As the seller, you may stay on for 6–24 months in a consulting, transitional leadership, or board advisory role, depending on the agreement.

  • You’ll help transfer key relationships, stabilize operations, and mentor the incoming team—but you're no longer carrying the full weight of the business.

  • Expect a shift from day-to-day management to strategic guidance, allowing you to ease into your next chapter.

  • The goal is to align interests—you benefit from helping the business succeed during the transition

  • You likely retain a minority ownership stake (usually 10–30%) in the business post-close. You participate in that second exit alongside the new owner/operator.

What Sellers Can Expect from Me

  • A confidential, respectful process—I know how personal this can be and how important legacy is.

  • Clear communication at every stage, transparency throughout the process including all terms, responsibilities, and incentives.

  • A focus on continuity for your team and customers

  • Flexibility—each business is unique, and I work to structure the right deal for both sides

  • A partner during all phases including the post transition.

Timeline

The process from initial meeting to business transition typically happens in 4-8 months. Post transaction can be an additional 6-24 months, depending on your goals and how we structure the transaction. A typical timeline would look like:

  • Introductory Phase: 2-4 Weeks

  • Informal Diligence and Structuring: 3-5 Weeks

  • LOI Acceptance, Professional Diligence and Closing: Up to 6 Months

  • Post close transition: 3-6 months