Sold! Professional M&A services take the worry out of buying or selling a business.

• Author: Kinder, Peri

What do you do when you unintentionally create a successful business? Accidental entrepreneur Jim Bell faced that very situation when his side job turned into a thriving company. Most people would jump at the chance to own and operate a profitable venture, but it was never the desire of Bell or his wife, Diane, to be tied to a small business 24/7.

It was 10 years ago when Bell started working for an employment agency in Utah. After working there for four years he left the company and worked with Deseret Industries, where he helped place people in good jobs, matching business owners to reliable employees. With his expertise in the industry, his past customers thought he should start his own staffing organization.

That was six years ago. Since then, his company has become very successful, bringing in millions of dollars in annual revenue. As he was still with Deseret Industries, Bell's wife took over running the company.

"We'd never done this before," Bell says. "We were not serial entrepreneurs. We were naive and, looking back, we learned a lot of hard lessons."

After several years, the Bells were at a crossroads, deciding if they wanted to expand their business or sell it. After analyzing the different factors, they determined that selling would be the best action.

But how does one go about selling a business? The Bells decided to seek professional help in selling the thriving company and contacted Chuck Berg, a senior associate at CBC Advisors. Berg, who has been in the mergers and acquisition business since 1981, helped them figure out an asking price for their business and showed them how to create an appealing package of information to present to potential buyers. He told the couple it could take anywhere from nine to 12 months to find a buyer and complete the sale, but once the business was listed, the Bells immediately had several letters of intent.

Working with Berg, the Bells ended up selling their business to a company out of Pennsylvania. "We were told this never happens. It never works this way," Bell says. "In less than three months from the time of the listing, we closed on the deal.... We never would have made that contact on our own. In the end, the right company bought it and everyone was happy with the results."

For business owners considering the sale of their company, Bell suggests the following steps to make sure the process goes without a hitch:

* Make sure the financials are in order. Keep the company's books clean and...