By Stephen Perry, an EO Orange County member and Managing Director at Janes Capital Partners

Selling a business can be a difficult and tricky pursuit with many sand traps for the seller. And not all sellers engage investment bankers. Ironically, those who don’t are usually the ones who need assistance the most. As the managing director of an investment banking firm, I often hear horror stories from owners who tried to sell a business on their own or with the wrong advisor and, for one reason or another, ended up with a failed process. After completing more than 50 deals with a combined value of approximately US$5 billion, I’ve learned some vital lessons along the way.