It all depends on the context and your skills. Normally, a traditional entrepreneur sells only one company in his lifetime.
The entrepreneur is in the a best position to manage their business. They should subcontract the sales process and surround themselves with professionals. The process is time-consuming and distract the entrepreneur from the role of overseeing their company. We have seen some who suffered significant financial losses, well beyond the broker’s fees. Remember that the selling price is a multiple of the profitability – it can be expensive.
In terms of approaching buyers, the broker can be in a more confidential approach to assess the interest to grow by acquisition. At the same time the broker, who trade it is, will be much less likely to fall in love with the buyer, to make undue concessions to reach a transaction.
What we have seen of those who sell alone, they are satisfied with a buyer who has shown serious interest. Every effort is being made to advance this party. If he backs off, everything must be started over from zero, as the seller does not have the tools and the habit of managing this process. We have also seen undue concessions for fear of losing this buyer or for lack of perspective on the transaction.
Knowledge at the level of coordination between tax, accounting, legal and operational remains complex and requires a conductor. When the broker is versatile and competent, a whole added value can be found at this level.
In short, selling a business takes time, costs money, and should be done with quality. As in everything, you can’t have something quick, cheap, and well done…choose what you prefer. Normally if you pay peanuts, you get monkeys.