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"So you have made the decision to sell your business. Congratulations! Before you start dreaming about a buyer walking through the door with bags full of cash and you sailing merrily into the sunset, there is a lot to be done and considered.

One of the biggest questions to be addressed is whether or not to sell it yourself or use an intermediary. There are valid points for both sides of the argument and a lot depends upon your particular situation.

The size of a business will determine the kind of intermediary needed. Most common is the business broker. While brokers generally market themselves as a go-between on any size business, in reality, they best serve the small business sector where transactions are between an owner-operator and a buyer who intends to operate or at least oversee the daily business operations. Once you get into larger businesses and complex transactions, investment bankers are more commonly used to facilitate transactions."

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