In Both, an Expert Advisor May Save Your Skin!
by Richard Wroten, Managing Director
Selling your business without the assistance of a professional intermediary is often like undertaking
an African safari without the aid of an expert guide. Would you consider venturing into unfamiliar
territory that holds inevitable hazards without sufficient knowledge and planning? Significant
harm and loss would likely occur, not to mention the untold stress and waste of time that could result
from being “lost in the jungle.”
When selling your company, consider this partial list of key issues and potential pitfalls.
- Do you personally have access to a large universe of qualified buyers?
- Are you able to accurately evaluate and adjust your accounting or tax basis income to arrive at the true cash value being generated by your company?
- Do you have a reliable means of estimating the market value of your company?
- There are financial buyers, strategic buyers and private equity firms. Are you familiar with how these different buyers think to guard against settling for a price less than full value?
- Do you have the time to filter through unqualified buyers, coordinate numerous professional advisors, and develop the financial analysis and descriptive materials to best showcase your strengths - while still running your business?
- Can you separate your emotional connection to the business from strategic negotiation tactics?
- Did you know that selling to a competitor often results in the lowest price available?
- Can you orchestrate the process to assure confidentiality to protect against premature disclosure to key employees or the release of damaging information to competitors?
- Are you able to structure the transaction in a way that will meet your personal goals on the other side of the sale - matters such as orderly succession, investment performance, minimizing taxes and estate planning objectives?
This partial listing represents only a few of the important matters you should consider. You might have fun matching the above list with the equivalent in the jungle scenario. Which item is the same as being eaten by a lion, swarmed by mosquitoes, lost in uncharted territory, or needing an interpreter and culture guide? You get the point - neither the safari nor embarking on the sale of your business makes much sense without the assistance of an experienced, trusted advisor.
You are successful at what you do in your company. You have the technical, creative and leadership skills that it took to build a company that provides value in the marketplace. Your heart and soul has gone into this enterprise, which, for many of you, represents decades or even generations of dedication and
sacrifice. Selling your company will be among the biggest decisions of your life. So, don’t leave such important and complicated matters to chance. Engage NuVescor Group as your expert intermediary and benefit from advisors who have managed hundreds of successful sale transactions.
Regardless of your timeframe, please call us for a confidential and free consultation to help you evaluate your options. We know the territory and will expertly guide you through your transaction in a manner consistent with your best interests and stated goals.