One of the most important traits for a business owner to have is the ability to look at things from a different perspective than what comes “naturally.” If you have run a successful business for many years, you likely have cultivated this trait by stopping now and then to step out of the “owner” role [...]
You Shouldn’t Sell Your Business Yet If…
Usually I’m giving reasons to consider selling your business. And yes, that may be what you should be thinking about. But then again, maybe not! Here are three additional reasons (besides the two I mentioned in my last post) why it might be the wrong time to put your business on the market.
Why NOT to Sell Your Business
If you follow my posts regularly, you know I often share experiences from my 25-plus years of brokering business sales transactions, usually giving all the good reasons to sell your business – that is, if you’re approaching retirement age or just ready to explore something new in your professional life. But today I want to [...]
Selling Your Business – Two Sides of the Exit Planning Coin
Recently I’ve been musing over the two different sides to my business – that of “Exit Planning professional” and “business broker” (or M&A professional, if you prefer.) Both terms arise frequently in these posts, and although these roles are closely related, there are some interesting differences I want to point out.
Fee Sharing for Exit Planners – Don’t Let the Cow Out of the Barn
In my last post I described an example of a solution offered to a client of mine who wanted to sell his business. Yet he couldn’t, because his long-time wealth advisor had, for many years, sold him on investments that were totally unsuited to the client’s retirement goals. I asked my own trusted investment manager, [...]
Expert Exit Planning Advisors Take Note!
In my last post, I opened up the question of how to put together an Exit Planning team of expert advisors for your clients. Today, let’s look at an example in which one of my client’s established advisors was not providing the level of service that was required, and how we were able to painlessly [...]
Do You Want an Exit Planning Solution – Or Just an “Exit Plan”?
I recently spoke to a group of Exit Planning advisors about how to best offer their expertise to business owners who are exiting their business. An important question arose: As Exit Planning consultants, are we selling plans or are we selling solutions? This is an important distinction, no matter what side you land on – [...]
Selling Your Business? Confidentiality is Key
Confidentiality is of utmost importance when selling your business. Problems can arise when customers, suppliers, or employees become aware that the business is for sale. When the Seller represents himself there is a much greater risk that this will happen. By utilizing a professional intermediary or Exit Planner, the Seller will receive maximum exposure to [...]
Four Great Reasons to Hire an Exit Planning Team
Why do I need professional advisers to help me sell my business? If this is your question as a business owner considering exiting your business, you’re not alone. I get asked this often, and I understand the dilemma. Selling your business can seem like a hands-on project. After all, who knows more about your business [...]
Selling Your Business? Prepare for the Knock on Your Door
You probably are familiar by now (if you’ve been reading these posts) with the various ways that you as a business owner can prepare your business for sale. We’ve discussed a number of Exit Strategies, such as getting a current business valuation, recasting your financials so that they show the true profitability of your business, [...]
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