When you are selling a business, your business broker or M&A Advisor will likely create a Comprehensive Business Review or CBR.\u00a0 This comprehensive document can then be presented to prospective buyers once they have signed all necessary confidentiality documentation.\u00a0 It is essential that this document builds trust between both parties, as this will go a long way towards achieving a successful deal.\u00a0\n\n\n\nBe Honest\n\n\n\nThe bottom line is that your CBR will be 95% positive. The majority of the document will be dedicated towards selling and promoting your business. Therefore, it only makes sense to disclose some potential problems. When handled correctly, the disclosure of problems can actually be a strong asset. \n\n\n\nFor example, current weaknesses of your business could become strengths in the mind of the buyer.\u00a0 For example, a business with a very poor online presence represents a substantial opportunity for a buyer to improve marketing and communications.\u00a0 Summed up another way, don\u2019t be afraid to include negative information, especially if that information represents an opportunity.\n\n\n\nSharing Information\n\n\n\nIt is important that there is an element of trust between the parties. Creating that sense of trust begins with the CBR\u2019s seller section. \n\n\n\nBuying a business is radically different from buying a home.\u00a0 When someone buys a home, they usually don\u2019t care too much about the person who they are buying the home from.\u00a0 But buying a business is usually a different experience.\u00a0 Your buyer will want to feel as though they have a fairly clear understanding of who you are and what you are about.\u00a0\n\n\n\nIn the seller\u2019s section, the buyer should get a decent idea of who you are.\u00a0 Your broker or M&A Advisor will want to interview you to gain ample information to include in your CBR.\u00a0 Your broker may even want to find out about your family, hobbies, interests and more.\u00a0 You may even want to consider including photos of yourself and your family.\u00a0\u00a0\n\n\n\nThe bottom line is that a potential buyer should be able to pick up the CBR and get a good feel for what you are like. If no level of trust is ever established between the buyer and seller, then it will be much more challenging for the deal to be successful.