I frequently talk to wealth managers who provide an array of services to business owners. They often say they provide â€˜successionâ€™ planning, but from what I can see, that discussion has more to do with tax and estate planning than ensuring a Â business will actually find a buyer.
I was having lunch the other day with an M&A Lawyer and and M&A advisor who sells businesses with EBITDA greater than $5 million. We were comparing notes about why business owners, especially the successful owners, are so reluctant to talk about exiting their business one day.
Lawyers, Accountants, Wealth Managers, Insurance agents, Consultantsâ€¦ this is for you.
When itâ€™s time, will you sell your company? How about when itâ€™s not your time, but itâ€™s the buyerâ€™s time to buy a company just like yours? Will you pull the trigger and sign on the bottom line?
And Other Myths That Destroy Wealth
Over on one of the LinkedIn Groups Iâ€™m part of, there is a debate going on about who should lead the charge to help business owners with their exits.
Lorraine McGregor was interviewed about how to make a business saleable on the URBusiness Network by Kerri Salls of Exit this Way.
I am always shocked when I speak to a group of business owners about how to increase the value of their companies before they sell, at the reaction I get when I reveal to them the following statistics:
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