Rather, a business owner should be looking for advisors who play well with others. So, yes, an attorney plays a vital role in the exit process, but they aren't an accountant and may not possess some of the knowledge of a CPA. Likewise, while the attorney may be good at helping protect clients through appropriate legal documents, and the CPA may have invaluable advice on the tax implications of the deal structure, neither of these professionals may have the skill set that an investment banker or business broker has of analyzing, valuing, and packaging the business or of finding and screening the best buyer and negotiating a win-win deal. And what about planning for what a business owner will do after the sale? Is a business broker, investment banker, attorney, or CPA going to be the best person to provide advice on what type of assets you need to own to securely provide for your long-term financial needs and reach goals in the next chapter of your life? Or might a wealth manager be better equipped to provide this type of guidance?
Following is a link to an article published by Axial Market that provides some ideas on the value of a good Exit Team: How Deal Teams Increase the Odds of a Favorable Exit.