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Advisory Team
You've devoted countless hours, untold amounts of energy, and a great deal of money to building and running your business, and now you want to sell. You may be thinking, "I built this business, I can certainly sell it myself", but like the adage goes about attorneys, "he who represents himself, has a fool for a client". Learn how to assemble an experienced, dedicated deal team to get your transaction closed quickly and at a good value in this important 3 page white paper. Buyers love it when sellers represent themselves. Why? First of all, few sellers are experienced in divesting of businesses or valuing them. Second, all sellers are emotional when it comes to selling their "baby"; no seller can be objective. Third, in order for an owner to receive the highest price for his business, a good deal of “value” may need to be “extracted”. Most owners are superb when it comes to building and running a business but positioning a company for sale requires a new set of skills. As an example, traditionally, the “value” perceived by the owner/seller is often light years away from the actual value of the company in the transaction marketplace. Sometimes it is lower, often it’s higher. Do your shareholders and heirs a favor and hire an expert team to assist you in the process. In addition, finding a buyer or seller and closing the deal is a time-intensive and complex process. If you as the owner or members of the senior management team want to do the job, the key question on both the buy and sell sides is who will be running the business and keeping it profitable during the months that it takes to complete the transaction. It is very difficult to do both jobs simultaneously. As the owner, you need to keep your eyes on the ball - the primary operations of the business. The company's accountant and lawyer, are invaluable contributors to the process through their specialized skills, but their experience or knowledge of current market conditions fall short of what is needed to consummate a viable transaction. Psychological risks exist to going it alone as well. The seller may be viewed by the potential buyer as lacking seriousness, credibility or in a position of which to be taken advantage. Without a transaction professional, there is not a fallback person to facilitate negotiations. In addition, a general lack of experience may lead to costly mistakes or time-consuming delays. For example, in selling a business, care must be taken to avoid the appearance that the company has been shopped and turned down by a number of buyers. That situation often produces a “damaged goods” image which significantly decreases the value of the business. Business owners not employing a team risk being caught off guard or unprepared to handle the myriad of large and minute problems, issues and details that arise throughout the process or lacks the depth of creativity to manage them. Going it alone also may limit the number of prospective buyers or acquisition candidates if the owner doesn't have enough time to spend on the process. [continued...] Want to know more? Download the White Paper "Advisory Team" for just $9.95. People who ordered this paper also ordered: |
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