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Maven Tips
Maven Tips represent real world tips and advice business owners should know about exit planning for the merger or sale of their business.
Thinking About This At The Last Moment Could Be A Big Mistake
Have you thought about how you are going to monetize your company’s value? Exit Planning examines all the alternatives.
Your Exit From Your Business Could Come Sooner Than You Think
I often get this question from business owners. Why do I need an exit plan if I don’t plan on retiring for five to 10 years? One reason is business owners need to be prepared to address involuntary events that can seriously impact their business, employees, family and estate. Examples of such events are death, disability, divorce, illnesses, burnout, and the retirement of a partner. Another scenario could be the receipt of an unsolicited offer from a credible buyer. Will your business be optimized from a financial perspective? Will weaknesses have been mitigated? Will the company be prepared to pass a demanding due diligence process?
Plan Ahead For Your Post-Sale Lifestyle
Today’s business owners want a post-sale lifestyle that is challenging, rewarding and vital. By crystalizing goals, the Exit Planning helps owners define their compelling future.
Beware of This Potential Conflict
Most family business owners want to sell to family members. This usually conflicts with owner’s personal financial security goal.
Maven's Exit Planing Articles
It's Never Too Early To Fix Your Company Throughout my life, I’ve been advised, “It’s never too late to do this or do that.” For many years, I thought this was good advice. In my business I constantly speak with business owners about their personal and business goals and whether or not they and their companies are ready to sell, if their companies are saleable, what valuation they might receive if they were to sell today, how a buyer would look at the way the company conducts its business, and how the company can be improved, etc. Read More Are You Guilty of the 60/6 Imbalance As Relates To Exit Planning?
Do You Have A Value Gap?
Some business owners who are starting to think about the sale of their business aren’t aware that they have a “value gap.” A value gap is the difference between a business’ fair market value today and the price a business needs to be sold for in order for a business owner to fund a pre-determined post sale lifestyle. Many business owners underestimate the magnitude of the gap. Yet determining an accurate value gap is an essential part of the exit planning process. Read More
This may be the most important article I’ve ever written. It comes from evidence gathered over a twenty-five year period from talking to thousands of business owners.
At a recent exit-planning seminar, the presenter spoke about a truism that really caught my attention. What he was referring to was that the average business owner spends 60 hours planning for the start-up of a business but fewer than six hours planning for his/her one-time, life-changing exit from the business! To put that in perspective, most business owners put in as much time planning for the eventual transition or sale of their business as they do in one round of golf! Okay, now you all know that my golf game needs serious work! Read More
How Can You Plan For a Rainy Day if You Are Denying Reality?
Let’s face it – these are tough times for most of us. Unfortunately, many business owners are still in denial about two very important matters: the true state of their businesses and their own mortalities... (Click here to read more)
More Of Maven's Exit Planning Articles
MergerMaven's Mantra
Plan, Optimize, Sell, Live Your Dreams!
