Chapter IV, process
File first. Market second.
A flyer before a file is how sales fail. Five steps, taken in order, like the painted stairs of this town.
The five steps of a sale.
Briefing
Timing, motive, and readiness. Nothing is printed and nothing leaves the room.
Value
Normalized earnings and a price range the owner can stand on.
Room
Teaser, NDA, then memorandum, released only to buyers who can close.
Paper
Offers weighed for certainty and tax shape, not only the headline number.
Close
One calendar, advisors in step, and terms kept through the handover.
“Prepare the file. Then invite the market, never the other way around.”