Thinking of hanging it up? Or might your company be a candidate for a purchase offer or takeover? Some pre-game warm-up strategies can help establish a home-field advantage on what is often bumpy terrain. Your goal: To post your business for sale and positioning yourself as attractively as possible so that you stand out from everyone else being scouted. This requires owners to be conscientious as they move forward through the often pressure-filled, obstacle-strewn minefield of companies coming together as one.

The key phrase is, “be prepared,” especially if you care about the outcome for your staff. Many “mom-and-pop” type shops are bought up by larger companies, which can trigger culture shock and raise questions of what business practices to follow and why. That is why it is important that both parties negotiate in good faith and spell out the expectations and requirements they need to ensure a smooth transition — whether the two agencies are merging or one agency is assuming total control over the other. Many experts say that mergers can sometimes benefit a seller's staff, but a seller cannot assume that this will be the case. More often than not, buyers are poised to bring in their own management teams in keeping with protecting and guiding the their investments.

So how do you snag a good business deal, preserve residuals from your book of business earned over many years of hard work, and help your long-time employees obtain the best possible outcome?