You Shouldn't Be the General Contractor

Earlier in this series, I said that starting early means assembling the right people around you before you need them in a hurry. This is the post where I unpack what that team actually is, and why you should not be the one holding it all together.

Selling a business is the largest and most complex financial transaction most owners ever go through. And too often, the owner ends up acting as the general contractor on it, the person trying to coordinate a lawyer, a banker, an accountant, and their own financial life, all at once, in the middle of running the company they are trying to sell. That is a heavy load to carry alone, and it is carried at the exact moment you have the least bandwidth to spare.

The team a good sale requires

A well-run sale usually involves a handful of specialists, each doing a job you do not want to do yourself.

An M&A attorney structures and papers the deal and protects you in the terms. An investment banker runs the process, brings qualified buyers to the table, and drives competitive tension that can lift your price. A tax advisor manages what the sale will cost you and helps position the deal to keep more of it. And a wealth advisor sees the whole board, coordinates the others, and makes sure the result actually funds the life you want after the business is gone.

That last seat is the one owners most often overlook, and it is frequently the one that ties the rest together. It is the difference between four specialists each optimizing their own corner and a single coordinated effort pointed at the outcome that matters to you.

The problem with a pile of business cards

Plenty of owners do assemble good people. What they often lack is coordination.

Each specialist is excellent in their lane. But the attorney is focused on the contract, the banker on the transaction, the accountant on the tax return, and no one is standing above all of it asking whether the pieces add up to the result you actually want. The owner is left as the go-between, relaying information among advisors who are not talking directly to each other, hoping nothing falls through the gaps. Things fall through the gaps.

Coordinating that team is a core part of what I do. I am not there to replace your attorney or your banker. I am there to make sure we are all building toward the same outcome, the one defined by your plan and your number, rather than working in separate silos while you try to hold it together from the middle. You have a company to run and a life to live. Being the general contractor on your own sale should not be your job.

If you do not have the whole team yet

Not every owner walks in with these relationships already in place, and that is normal. Part of coordinating a sale is helping you build the bench before the deal is moving, so that when it is time, the right specialists are already seated and already familiar with your situation.

That includes helping you connect with the right professionals for your deal rather than leaving you to find them cold under time pressure. Sourcing your team in a hurry, once a buyer is already at the table, is exactly the scramble that leads to rushed choices and worse outcomes. Building it deliberately and early is the opposite, and it is one of the clearest reasons to start these conversations well before you intend to sell.

The quiet value of a team that has worked together

There is one more benefit to building and coordinating this group early, and it echoes something I have seen across every kind of planning. A team that has worked together over time, that knows your situation and knows each other, simply operates better than a group assembled at the last minute.

When the specialists around you have a working relationship and a shared understanding of your goals, the deal moves more smoothly, fewer things get missed, and you spend less of your own energy managing the managers. That cohesion is hard to manufacture under deadline. It is built in advance, which is one more argument for starting before the clock is running.

If you are heading toward a sale and want someone who can help you build and quarterback the right team, that is a conversation I welcome. I work with business owners, executives, and individuals navigating major financial transitions across Chester, Morris County, Mendham, and the broader northern New Jersey area, with no pressure in a first conversation.

Frequently Asked Questions

Who do I need on my team to sell my business?

Most well-run sales involve an M&A attorney to structure and protect the deal, an investment banker to run the process and find buyers, a tax advisor to manage what the sale costs you, and a wealth advisor to coordinate the group and make sure the outcome funds your life after the sale. Each covers a different risk, and the wealth advisor is often the one who keeps them aligned.

Can't my attorney or accountant just quarterback the sale?

Each is essential in their lane, but each is also focused on their specific piece, the contract or the tax return. Coordinating the whole effort, keeping every specialist pointed at your overall goals, and connecting the deal to your life after it is a distinct role. Without someone in that seat, the owner usually ends up doing the coordinating, which is a heavy job to carry while also running the company.

I do not have an investment banker or M&A attorney. What should I do?

Start building those relationships before a deal is in motion, not after. Assembling your team under time pressure once a buyer is at the table tends to produce rushed choices. Part of what a wealth advisor does is help you connect with the right specialists for your situation and get them in place early, so the bench is ready when you need it.

Why does it matter if my advisors have worked together before?

A team that knows your situation and knows each other tends to operate more smoothly than one assembled at the last minute. Fewer things get missed, the deal moves better, and you spend less of your own energy managing the coordination. That cohesion is built over time, which is another reason to assemble your team well before you plan to sell.

 William Clinton, CFP®, CIMA®, CPWA® | Riverstone Wealth Planners Chester, New Jersey | Serving Morris County and the NJ/NY Metro Area

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This article is for educational and informational purposes only. It is not investment, tax, or legal advice, and it does not account for your individual circumstances. Decisions related to the sale of a business and the planning around it can have significant tax and legal consequences. Before acting, consult qualified financial, tax, and legal professionals about your specific situation.

Riverstone Wealth Planners is an independent wealth planning practice based in Chester, New Jersey, serving business owners, executives, and individuals navigating major financial transitions across Morris County and the broader New Jersey and Ne