Almost all business owners will eventually leave; whether they sell, close, or ultimately leave the business to an heir. A business sale may be the most important transaction you’ll ever undertake, with the possibility of building real wealth. Value is something you build over time, not something you suddenly prioritize at the negotiating table or
Business owners hoping for a successful sale of their business often dive into the sale process without much thought. Neglecting pre-sale planning can diminish their chances of a successful sale, and even taint the marketplace for future efforts. Potential buyers expect to purchase valuable businesses that are properly prepared, and they don’t want to invest
There’s no denying, and perhaps no overstating, the catastrophic effects of the novel coronavirus on M&A. Hundreds of thousands of businesses have closed or lost significant revenues. Supply chains are disrupted, and oil prices are on a roller coaster ride. Many deals are being put on hold, acquisitions are being canceled, and some buyers are
Routinely thinking about your exit plan is key to succeeding as an entrepreneur. As you move closer to an exit, these three tips can help prepare you and your team for what lies ahead. Build a Strong Deal Team Your deal team should include both indispensable company representatives and external advisors, including: The CEO, who
COVID-19 has been the source of unprecedented business uncertainty. Many owners are re-evaluating their exit plans, or planning for their business’s future for the first time. Here’s what you need to know about designing your exit plan during a pandemic. Create or Edit a Plan A good exit plan is a living document that you
Whether you’re finally decided to sell your business or received an unexpected offer from a potential buyer, you may feel a combination of trepidation and excitement. Successfully selling your company requires you to prepare for the brutal realities of due diligence. Due diligence looks at many aspects of your business—legal, financial, tax, operational, human resources,
You’ve spent years building your business. It’s likely your most valuable asset, and so you hope that others will see the value in it, too. But finding a good buyer rarely happens overnight. It takes a little luck, and luck demands preparation. These five strategies can make your business a more attractive acquisition, helping you
Exit planning is about much more than retirement. It’s a key aspect of strategic planning that sets end goals for your business and benchmarks for reaching those goals. You’ll need to analyze the legal, financial, and tax implications of your exit, while keeping your eye on the prize of maximizing value when you exit. Successful
In this series of articles, we’ve been talking about some of the value drivers business owners should focus on that will help them sell their companies (either wholly or partially) at the highest possible price. Among these value drivers are management team depth and having a strong competitive advantage. Another key value driver is your
In this series of articles, we’ve been talking about some of the value drivers business owners should focus on that will help them sell their companies (either wholly or partially) at the highest possible price. Among these value drivers are quality financial statements and management team depth. Another key value driver is the degree of
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