(The Smart and Savvy Exit) What is a successful sale - Ellen McIlhenny

Ellen McIlhenny - The Smart and Savvy Exit – What is a Successful Sale?
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INTRODUCTION
Yesterday was Memorial Day and for most of us it was a day to remember loved ones who are no longer with us. For me, I spent much of the day thinking of my dad. He was a great man who I wanted more than anything to be proud of me.

My father was an ROTC graduate from the University of Pittsburg and spent his time in the Air Force after graduation using his skills as an engineer to work on high level security projects for the United States Military at Wright Patterson Airforce Base in Dayton Ohio.  Dad did not speak much of his time in the military. Lucky for us; he entered the military a few of years post Korean War and had served and was able to retire before the worst of the Vietnam War. But he instilled in us all a deep respect for the men an women who have fought so valiantly to protect this great country and its freedoms. 

In my time as a fractional CFO, I have interviewed many veterans who have chose to become small business owners after retirement. I continue to be amazed at the strength and optimism I hear from these small business owners even in the face of a pandemic. I guess combat in a land far from your homeland prepares you for the worst.

That is why these people are my heroes.

I read an article by April Morganroth for the Daily Camera and she said: 

“Hug them, say ‘thank you,’ or simply shake their hand because all veterans — not just those who laid their life down and perished, but all veterans are deserving of our sincerest respect and gratitude.

“It’s difficult to watch a good serviceman or woman became a shell of who they used to be, whether that be due to their service or their difficulty in transitioning to civilian life, we should still show our sincerest thanks to any veteran because we don’t know the silent hell they endure daily.”

“A ‘thank you’ can never be enough, honestly, but it is a start, and that can be as simple as shaking their hand with sincerity and telling any veteran you appreciate any sacrifice they made.” Memorial Day is about honoring and remembering those who had given a life in service of the country, but that a life isn’t always a physical life.

“So many don’t make it home mentally or emotionally, even if they make it home physically, they are still ‘gone’ in some fashion, and we should always be eternally grateful for them, too.

“People just really do not understand what a military member goes through and how incredibly difficult it is for many to leave the military and be successful in civilian life; but many do as small business owners.

Any veteran is susceptible to encountering upon leaving the military that “a smile, a handshake or maybe even a nod and ‘thank you’ can go long way in honoring a veteran — simply acknowledge they have probably seen the worst of the worst and are trying to make it back to a sense, or normalcy.” He said don’t just do it on Veterans Day or Memorial Day but honor these difficulties all year long.
 
Show Objectives - The Why
 
Today I will be talking to Bryan Sklar about the successful sale of a business..

Key Issues

1. Why buy a business in the first place.
2. Building a business to sell.
3. What do you want out of the sale?
4. Ok, I am still young and have successfully sold a business; what now?
5. How did you know what to do?
6. What kind of help did you get?

 Shows 

• Previous: Podcast Episodes 29 – 32 of Season 5 - The Smart and Savvy Exit – Cash Flow Strategies to Build Value – I talk about how to use cash flow strategies to build value.

Find My Podcast at https://pod.co/future-financial-confidence-with-ellen-mcilhenny

Next Week: Confidentiality when selling a business

Resources:
Written by Ellen McIlhenny 
Owner of CFO Plus Services, a Fractional CFO services firm which also offers Back Office Bookkeeping Services.  Author of the business novel The Big Turnaround; How Bad Management Nearly Destroyed an Exceptional Company. Check it out at https://thebigturnaround.com


You can connect with Ellen on any of her #cfoplusservices platforms or ellen@cfoplusservices.com
https://cfoplusservices.com
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