Owner Transition
Strategically preparing your business for succession or sale may be the most important investment you ever make.
As more and more baby boomers choose to retire, there will be an abundance of businesses for sale and a shortage of buyers. This demographic shift means it’s never been more important to prepare an exit strategy that positions your company as a great investment for years to come.
This doesn’t always mean selling your business and Growth Associates will help you understand all of your options. There are at least nine reasons to exit a business and at least eleven alternatives to selling it. We’ll help you assess your unique situation and create a succession or sale strategy that’s tailored for your business and your life.
Considering the sale or transfer of ownership of your business?
If your business:
Struggles from year to year
Requires constant attention and long, long hours
Never seems to attract and retain good people
...you will have trouble selling your business at any price.
Generates returns in the top 25% of its category
allows you to work on it instead of in it
employs motivated, knowledgeable people
...you will have less trouble selling your business – but it may still be undervalued
The top 15 questions you need to ask yourself if you are thinking of exiting your business:
What are my alternatives to selling out?
What is my business worth right now?
Do I understand the fallacy of the ‘book value’ scenario?
What could my business be worth?
Do I understand the buyer’s value equation?
Do I know the difference between a business and a GOOD business?
How do I market my business?
How do I identify and evaluate potential purchasers/successors?
How do I recognize a legitimate buyer?
Which type of buyer will pay me the most?
Do I know how to select and manage advisors?
Do I understand transaction structures?
What financing options do I have?
How do I handle my family transition?
What will my life after business be like?