It takes incredible patience, time and dedication to get a business running smoothly and profitably. When you finally decide to sell a business that you’ve poured time, money and sweat into, you probably want to realize the maximum possible value for it at sale.

In today’s market, harvesting the maximum value is dependent on creating a market of high-quality potential buyers -- or buyers who are willing to pay what your hard work is truly worth.

When talking with potential buyers, it is difficult to determine if they are the ones who could benefit from buying a business like yours. Buyers who understand the value you’ve created are more likely to pay a better price -- because they know how to capitalize on the strengths of the business and continue to grow it.

That sounds simple enough -- but as you consider selling your business, you have to look out for several hurdles.

When your business is on the market, you could contact dozens or even hundreds of potential buyers -- and only a fraction of those will be knowledgeable about your business. Even fewer will be willing to pay a strong value for it. For this reason, it’s always best to have an extensive selection of potential buyers and to be prepared that many of them will not be interested in acquiring your business.

In addition to time spent finding and communicating with buyers, the negotiations and legal work can drag on, with seemingly no end in sight. Working through negotiations, keeping pace with extensive diligence and managing conflicting personalities all takes time -- and meanwhile, you have to run your business.

The best way to manage these hurdles is to hire an M&A advisor to handle negotiations with potential buyers and drive the value of your business. Advisors with decades of M&A experience understand the buyer universe, allowing them to recognize the best potential buyers, identify opportunities to position your business and build a competitive market that will yield a strong value for the business.