Sell-side Mergers and Acquisitions.
Often overlooked by business owners UNTIL the time of a sale are contracts…and believe me, it significantly impacts the value of your company on whether or not contracts are assignable. You do not want to negotiate assignability at time of sale! This may open the door for customers/suppliers to highjack your… Read More »Are Your Contracts Assignable
Congratulations! You’ve received an offer to purchase your business … and you weren’t even really thinking of selling right now! Before getting overly excited, it’s best to ensure that you and your company are ready to move on. Private equity firms may be genuine buyers, but please know that these… Read More »Wow! An Unsolicited Offer from a Private Equity Firm!
Prior to selling your business, identify the traits you want in the buyer. That way, when you receive a strong offer from a potential buyer and do your due diligence, you know what you don’t want. For instance, if your buyer has just parted ways with another business and did… Read More »Be ‘In Like’ with Business Buyer
Friendships are the key to life, however, unless they are a specialist in the area you need, separation is good! Many business owners, like me, have become friends with their business advisors. We enjoy working with each other and treasure those relationships. When it’s time to sell or transition your… Read More »Know Your Friends’ Specialties…and Limitations
Bo Burlingham, former executive editor for Inc. magazine and author of several books, including Finish Big: How Great Entrepreneurs Exit Their Companies on Top has shared that one of the key discoveries that led to that book. He found found that many business owners were unhappy after selling their companies regardless of how much someone… Read More »Success = Identified Identity
“To win in the marketplace, we believe you must first win in the workplace. I’m obsessed with keeping employee engagement front and center and keeping up energy around it.” Those words of Doug Conant, business leader and former CEO of Campbell Soup Company, are particularly true today. The talent market… Read More »Increasing Business Value – Retain Employees, Especially Now
The market for Selling and Acquiring Businesses is still strong! Sellers are receiving multiple offers, but the ‘chosen’ Buyers aren’t always the ones writing the biggest checks. Decide what you want! Is a lower price OK if it ensures that the buyer is a better fit for your culture? Or… Read More »Identify Top Priorities
The most likely reason a business sale fails is NOT the purchase price or structure/terms. It is time … death by delays. As days turn into weeks and weeks turn into months, Sellers and Buyers experience frustration and fatigue. From vacationing attorneys to disorganized brokers to lien holders and licensing… Read More »What Kills All Deals – TIME!
As you build a strong management team and work on transitioning yourself out of the business, be sure to enjoy vacations in the year or so prior to selling. Buyers look for businesses that can run—and run well—without your constant attention. Stop and think for a moment. If you took… Read More »Increase the Value of Your Company – Take a 3 Week Vacation!
In the sale of a business, confidentiality is VERY important. What happens when your critical employees must be informed prior to the sale? We recommend stay bonuses. A stay bonus incentivizes key employees to cooperate and assist with your sale. How much should the bonus be? There is no set… Read More »Should a Business Owner Provide a “Stay Bonus”?