Business is business.... It's not rocket science
Think about the importance of the decision you are making when you decide to sell the business that has been your life for a decade or three. This is a milestone event, something you do once or very few times in your lifetime, not unlike getting married, having children, and graduating from college. You may have built a great company, but you still need to convert that blood, sweat and tears to money. You get one chance to do it right and maximize your return.
You would be surprised at how many business owners never give their exit a passing thought until one day they decide they’ve had enough fun and it’s time to quit. And then they realize that selling a business is not unlike selling cantaloupes or concrete. They were successful because they had a plan, they understood the market, and they out-competed a host of opponents. Why would selling a business be any different?
Let us help you prepare for this event. We will show you know how you can be far more prepared for a successful exit whether you want to get out in three weeks, three months or three years. The articles below can give you an idea of whether we are a good fit for you.
What's puzzling you is the nature of our game!
Who's on your transition team?
Who’s your favorite professional sports team? The Detroit Tigers? The Montreal Canadians? The New York Giants? Whoever it is, no matter what sport, the players in that team have a position they play. They have specific assignments and they were recruited because they had a specific talent. Never in any sport does a player not leave the field at some point during the game, except for perhaps a hockey goaltender.
How's your liquidity?
As someone who has spent their working life creating and building a successful company, you have probably accumulated significant assets. Your portfolio could include any combination of cash, real estate, stocks, bonds, annuities, insurance policies and precious metals. Some investors trade more complicated instruments like commodity futures or options. Each of these investments are a separate asset class.
Have you ever sold a business?
You may be the smartest guy in your industry, and you may have built a giant empire, but selling a business is not the same thing as building one. Watch what happens when Bill Gates, founder of the biggest software company in history, steps out of his area of expertise and takes on an expert in a different field…
Are you in our strike zone?
Hiring the right advisory firm is critical to your exit strategy.
There are many firms that would like the opportunity of selling your business. But a firm that is capable of valuing, packaging, marketing and financing a manufacturing company with $200,000,000 in revenue wouldn’t have much interest in doing the same for a company doing $200,000.
Which of these categories do you fit into?
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