Shareholder interests are an important part of any sale -- and they can produce their fair share of conflict in unexpected ways.

While operations are consistent and the business is steadily performing, there usually isn’t much conflict among shareholders. However, once your business is in the market for sale, changes in the routine begin to reveal opinions, interests, and anxieties that may have been dormant before the sale process.

Shareholders may hold different opinions on the priorities of the business, which in turn can affect the type of buyers sought. Those who worry solely about the proceeds may be willing to sacrifice another shareholder’s interests for the best price. Shareholders who worry about employee security might be seeking entirely different types buyers.

As you move through the sale process, make a point to communicate directly with all shareholders to make sure that no one’s priorities are ignored during the sale of the business.

You might think you know your fellow shareholders well, but much like potential legal issues, you can underestimate the impact of personality conflicts and priority differences.

To ensure the stability of your relationship with other shareholders you should hire a professional M&A advisor that can act as your buffer to negotiate on behalf of each shareholder -- all while achieving the best set of terms from potential buyers.

M&A advisors have the experience to represent theinterests of each shareholder during the sale process to make sure all voices are understood and accounted for.