Wendy Dickinson - "Catalytic Conversation$"
As a business owner, you are the expert in your business. Chances are, you do not buy or sell, or value, other businesses regularly. Mergers & Acquisitions, M&A, is another field of expertise and study. Those who do it well, know it as a process requiring preparation.
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Show Objectives - The Why
An accurate, thorough valuation is the key to leveraging your business when it comes to selling your business. As the owner of a business, you need a valuation based on market and industry data, as well as documentation of the assets within the business. You don’t need someone’s best guess, you need their knowledgeable assessment - an independent valuation.
This isn't something that you ought to do yourself. You may be at the top of this organization. You may have a great management team, accounting firm, and attorney for your business. Hopefully, you also have a “board of trustees” for your company, and for your personal life that includes, friends, family and your spouse or partner. However, it may be that none of these people have built a life or career on buying and selling business, much less valuing businesses for the market. The input of these individuals may seem comforting, reassuring and affirming.
I challenge you to consider that this may be the one time in your career where you need people who offer different perspectives. Your successful close may call for people who challenge your opinions and valuation. Your future may depend on people who can market your business strategically, financially, and tell a compelling story based on data to support the valuation of your life’s work.
Key Issues - Owner Perspective:
What You Need to Know - The What
What You Need to Do - The How
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