by Scott Sylvan Bell | May 26, 2026 | Letter of intent
The Direct Answer Earnest money historically was not required when buying a business through a Letter of Intent. That changed starting in 2026. Sellers and their advisors are now routinely asking buyers to put earnest money down — either a set amount or a percentage...
by Scott Sylvan Bell | May 25, 2026 | Business Growth
The Direct Answer You test your buyer’s journey and document it by entering your own business from three different perspectives — as an employee, as a member of the management team, and as a client. Each perspective reveals what the other two cannot see. You...
by Scott Sylvan Bell | May 24, 2026 | Business exit strategies
The Direct Answer You must look at your contracts 36 months before selling your business because most owner-drafted contracts are not assignable and will not survive a buyer’s due diligence scrutiny. If your contracts cannot transfer to a new owner, the buyer...
by Scott Sylvan Bell | May 24, 2026 | Business exit strategies
The Direct Answer You build a transferable management team from day one by documenting every key team member’s bios, skills, capabilities, problems they have solved, and strategic initiatives they have led — and locking that documentation behind signed NDAs,...
by Scott Sylvan Bell | May 23, 2026 | Business Growth
The Direct Answer You use a 100-day plan when selling a business to prove success by handing the new owner — private equity, strategic buyer, or private buyer — a written transition document that maps the first 90 to 100 days after close. The document covers the...
