Emerging businesses have more options these days, when it comes to hiring an investment bank for the sale of the company. David Jaffe of Fox Rothschild says, “the influx of talented deal professionals into the lower middle market over the last decade has radically changed this market segment.” And with more options, comes more power on the client side. “It is possible now more than ever for sellers to find highly competent advisors to represent them in a sale process,” says Jaffe. “However, in order to do so, sellers must be more diligent than ever before in their search.” Here are some of the questions he says will help companies select the right people for the job.

• How many merger and acquisition engagements have you led in the past 2 years? Jaffe says that recent experience is more relevant than dated transactions, and since many industries move in 18-24 month cycles, it's particularly important to know what's been on the books lately.

• What's your average deal size for sell-side merger and acquisitions? Like Goldilocks and the Three Bears, your bank must be just right. “As a seller, you want to understand the importance (as measured by indicative transaction value) of your deal relative to the banker's backlog of transactions,” he says.