redactedNine things to consider if you received unsolicited interest 1. Understand the outreach you are receiving: It's important to understand who is interested in your business and their motivations for wanting to acquire it. This will help you gauge whether the offer is fair and whether you want to engage in further discussions. 2. Know what investors are looking for: Investors will typically look at factors such as the financial health and potential of your business, the strength of your management team, and the potential for growth. Understanding these factors will help you better position your business and negotiate a fair price. 3. Understand how your company is valued: There are various methods for valuating a business, such as the discounted cash flow method or the comparable company method. Knowing how your company is likely to be valued will help you understand whether the offer you are receiving is fair. 4. Maximize the value of your company: Before entering into any discussions with potential buyers, consider ways you can improve the value of your company. This could include improving financial performance, strengthening your management team, or diversifying your product or service offering. 5. Enter into a transaction with a sole buyer cautiously: A "proprietary deal" is when a specific buyer is given the first chance to purchase a company before it is marketed to other buyers. While this can be tempting, it's important to be cautious and consider whether this is the best approach for you. 6. Know who the purchaser is: It's important to understand who is interested in acquiring your business, whether it's a financial or strategic investor. This will help you gauge their motivations and determine whether you want to engage in further discussions. 7. Control the process: When you are the party being approached, it's important to exert control over the process. This may involve seeking the advice of M&A advisors, signing a non-disclosure agreement, and negotiating a fair price. 8. Consider the terms of the deal: In addition to the price, there are other important terms to consider in any acquisition deal, such as the structure of the deal (e.g. cash, stock, or a combination), any contingencies, and any ongoing obligations or liabilities. 9. Seek professional advice: If you are not familiar with the M&A process, it's important to seek the advice of professionals who have experience in this area. This could include accounting, legal, and deal advisors who can help you navigate the process and negotiate the best possible terms. If this content was useful, the rest of the Selling Your Canadian Business library is one click away. Visit redacted for a monthly newsletter, audio podcast, and video interviews with Canadian advisors. Subscribe now to The Canadian Exit Briefing for exclusive articles, guides and reports written for Canadian business owners and their advisors. Pass this article along to another owner who is working through the same questions. redacted