Life is unpredictable and, many times, uncontrollable. Sudden death of a business owner can throw the company into turmoil. Divorce and the subsequent division of assets can disrupt the life cycle of a business. A stroke or other disability of the founding owner causes disarray in the strategy, relationships, and, ultimately, the revenue of the business. Natural disasters and internal disagreements are self-explanatory, but both have the power to derail the company’s growth.
Now that you are thoroughly depressed, let’s look at how we can plan and perhaps reduce the Big D’s impact on your company and your bottom line.
When you own a business that provides a service or product, you know the importance of timing. You have probably experienced a mistimed product launch or a delayed service opportunity. With the perspective of time, you can probably look back on those “mistakes” and identify the lessons you and your team learned.
Timing also applies to the sale of your business.
Many business owners wait too long to begin their exit planning. Remember, it generally takes between 12–18 months to implement strategic exit planning inside your company. …
You spent a lifetime making mistakes and learning how to be successful in your chosen field or industry. Through trial and error, you learned how to monetize your business and establish your brand in the marketplace. Revenues and profits are stable, and you may be thinking about the next step for your company — either succession to the next generation or a liquidity event.
But how do you position your company to sell for the highest value?
Entrepreneurs are experts at building, nurturing, and structuring their business.
The skills, expertise, and knowledge required to start and build a business are…
“By failing to prepare, you are preparing to fail” — Benjamin Franklin.
After years of hard work, late nights, and excessive amounts of time, energy, and money, you may be thinking about selling your company. Did you know that the critical window to plan for a transition in ownership is 12 to 18 months before the actual sale?
As a business owner, you know the daily demands of creating, building, and operating a viable company. …
Selling your company is not the same as running it. To sell your business for its actual value, you must understand the mind of the buyer.
A buyer has a checklist that he uses to measure whether your company is a viable investment. The buyer’s perspective is objective, data-driven, and analytical.
First-time sellers are vulnerable to being taken advantage of by sophisticated buyers. When the seller doesn’t understand what a buyer looks for inside a company, the buyer will devalue, degrade, and discount the company and the final sales price.
Even as a first-time seller, you can learn what buyers…
“There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” ~ Colin Powell
You have spent countless hours, sleepless nights, and won hard-fought battles to grow your company. You are the first person to laugh if anyone calls you an “overnight success.” Success is the reward for bringing your vision into reality.
But do you know how to prepare your company for a successful transition in ownership?
It takes a different mindset to begin preparing your company for an exit event. …
Timing is everything.
It’s a saying we have all heard before and when it comes to running a business, it rings truer than ever. Proper timing can mean the difference between success or failure. You invested a great deal of thought and planning into starting your business and growing it into a successful enterprise.
When you want to sell your business or pass it on to the next generation, what then?
Many business owners fail to look into their exit planning process until it is right in front of them. By that time, they are so close to their departure…
“Success today requires the agility and drive to constantly rethink, reinvigorate, react, and reinvent.” ~ Bill Gates
As the owner of a privately-held business, wouldn’t it help to know what PE firms look for in a potential acquisition?
Just like many businesses, Private Equity (PE) firms and their portfolio companies have experienced first-hand the pandemic-fueled financial crisis. While some were eligible to receive help from the CARES Act, other firms did not fit the criteria and could not qualify for forgivable loans.
With uncertainty still shadowing the immediate and distant future, many PE firms have been seeking opportunities in a…
You spent a lifetime making mistakes and learning how to be successful in your chosen field or industry. Through trial and error, you learned how to monetize your business and establish your brand in the marketplace. Revenues and profits are stable and you may be thinking about the next step for your company — either succession to the next generation or a liquidity event.
But do you know how to position your company to sell for highest value or ensure that a succession plan will go smoothly?
“Sometimes the biggest gain in productive energy will come from cleaning the cobwebs, dealing with old business, and clearing the desks — cutting loose debris that’s impeding forward motion.” ~ David Allen
We live in strange and extraordinary times. The world changed in the space of a breath, and uncertainty has become the new norm.
The pandemic has had a significant human, social and economic impact on businesses across the country. With the worldwide spread of the virus, both big and small companies have faced increasing uncertainty. …