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As a business owner, you know what it’s like to lie awake at 2 a.m. Maybe it has happened when you are excited and full of new ideas for your business. More often, it’s because you are worried about issues you will face the next day. Sometimes, it’s because you just woke up with the solution to a problem. I’ve experienced all those emotions about my businesses over the years. Awake at 2 o’clock? is where I share them with you, and hopefully help with answers that will let you sleep.
John F. Dini, CExP, CEPA
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Small business owners are the Hunters of the 21st century. We are 3% of the US population, and yet we create over half of all American jobs. As Hunters, we may not be inclined to manage by the numbers or stick to systems. Are you a Hunter or a Farmer?
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How prepared are you to exit your company?
The Assessment breaks down the four major categories of exit readiness; Finance, Planning, Operations and Revenue/Profit.
Tag Archives: Exit Options
One Response to Four Basics of Exit Planning 3: Know Your Buyer
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One Response to Four Basics of Exit Planning 1: Valuation
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Monitoring the growth or decline in the value of a company is an important business metric. It helps owners justify the effort they puts into the company, assess risk/return on use of capital or debt, and make exit and retirement decisions. The owner can establish a valuation process for the valuation, and repeat it each year. This process can be a wake up call to opportunities or threats.
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One Response to Subordinated Debt in an Exit Plan
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Right on point.
Except you will find different banks with different parameters for their SBA loans, all within SBA’s SOPs. Some more aggressive than you described. Without a one year window.
It’s a great environment for transactions.
On with the boomer tsunami.
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2 Responses to Business Buyers and Disintermediation
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Great post John. As we say at Successful Transition Planning Institute, you have to know your goals and address your fears to have a great business transition. Fears about disintermediation are not often raised by the owners, but a wise advisor must raise them. Otherwise the owner’s goals may simply be fantasy. For those owners whose business is likely being dis-intermediated, and cannot offer differentiation (or it is too late to do so without significant, risky investment), the owner can still set goals for winding down the business and protecting personal assets, as well as creating a meaningful life.
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Scott: I ran into the same problem with ebay buyers trying to hold our feedback rating hostage by getting an undeserved partial refund. Our “full, unconditional refund rather than a “partial refund policy was set in stone during a rare 78 collection ebay sale. Although the collection was mint, untouched store stock and sold items were packed in expensive Uline 78 mailers several buyers claimed the 78″s arrived warped and wanted a partial refund. Statistically the number of “warped in shipping seemed way too high but we offered a full refund instead of a partial one to all buyers. Not one of them replied or sent their purchases back which made us assume they were all lying in order to get a refund. As Seinfeld said, “People, they”re the worst!.
That’s because, by knowing what professional buyers want, you can begin today to plan and shape your company for its eventual sale. Even if you are not going to sell your business for decades, you need to begin planning for that event now. Otherwise when it comes time to sell, you will discover all of the things you should have been doing over the years to build value and make your business buyer ready.