I am often asked, “How long will it take to sell my business?” That depends on a number of things. It’s easier to estimate the time needed for certain aspects of the selling process than it is for other aspects. I usually break down the process for selling a mid-market company into six milestones. Let’s [...]
Exit Planning is About Living — Not Dying
A number of business owners have commented to me that they don’t need an Exit Plan because they already have an estate plan. Others have said that they don’t need an Exit Plan because they are covered by their Buy-Sell Agreement. I admit that part of Exit Planning does deal with what happens if or [...]
San Francisco Bay Area Exit Planning Chapter
Pinnacle Equity Solutions San Francisco Bay Area Exit Planning Chapter Meeting You are invited to join us at a private breakfast on Tuesday, October 18, 2011, for the new San Francisco Bay Area Exit Planning Chapter. This is an exclusive opportunity to network with successful Bay Areas business leaders, and hear John Leonetti of Pinnacle Equity Solutions [...]
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 [...]
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, [...]
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 [...]
Unsolicited Buyers: Opportunity of a Lifetime or Monumental Waste of Time?
In my work with owners who are selling their business, I have encountered two types of buyers in most situations. One type of buyer is out “beating the weeds” to find a company that they can buy for “nothing down and a dollar a day.” It goes without saying that you want to avoid these. [...]
The Case Against Private Equity Recapitalizations as an Exit Strategy
Many Exit Planning experts and other business consultants spend a lot of time extolling the virtues of private equity recapitalizations as a method for business owners to “take some chips off the table” while maintaining operating control of the business. I too am guilty of this charge. I have often written about these types of [...]
Buyers Pay More for Bulletproof Earnings
If you are going to sell your business, you want to get the maximum return from the sale, right? Unfortunately, many business owners who come to me for professional Exit Planning advice think that all they have to do is hand over their financial statements to prospective buyers, and amazing offers will start rolling in. [...]
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