Think about creating an exit strategy before you need it
Don’t wait until the right buyer comes along or, a worst case scenario, you’re hit by a catastrophic event (and must sell). Sure you can wait until a few years before you want to sell but it’s the forced and unprepared for sale that could cost you millions. A study published in the Wall Street Journal said that while 50-70% of businesses are expected to change hands this decade only 10% are ready for sale (meaning the seller will maximize the potential value).
The buyer found a business he loved. Had he found it two years prior he would have bought it. However, the owner died unexpectedly, his son took over, his son was a shop foreman not a leader and the business foundered. The drop in profits was staggering. The cost to the family was immense as this business had to be liquidated for pennies on the dollar.
John, your help was invaluable. I can’t imagine the process going any smoother. The plan you assisted me with worked – that’s a powerful statement, isn’t it? One of the best investments I ever made was hiring you to guide me through the process. Alex Johnson
Buy the right business the right way and take control of your life
Business buyers tell me their top reasons for ownership are:
- Reap the benefits of my smart and hard work
- Decision authority
- Income potential
- Equity or net worth
- So I can be the boss
What are your reasons for wanting a business?
Don’t be like Ken, whom I met at a bank event. He was 66 and told me that he wished he had met me a dozen years earlier when he wanted to buy a business. He gave up after almost two years of seeing, “nothing worth buying or if it was (close to being worth buying) the price was bid up.” When asked his search methods it was the usual things, searching the Internet, the newspaper and making a few calls (if it seemed remotely interesting).
You must access the hidden market where 80% of good companies are sold. These businesses are never advertised and you’ll be the only buyer talking to the seller.
John also has a unique method of finding available businesses, which often results in a great transaction for all parties. I strongly recommend working with John and would use his services again in a minute. Bill Tenneson, President, Downstream Partners, Inc., Seattle, WA
Maximizing value and accelerating growth
- Do you have great ideas for your business?
- Do you struggle to get your staff onboard with them or just don’t find the time to implement?
- Are your profits not what they should be and you’re on a plateau?
- Escape the plateau! Increase your growth velocity and see profits skyrocket.
I recommend you to anyone who is seeking consulting assistance; anyone who works with you is very fortunate. Gene Pepper, Glendale, CA