In today’s Merger and Acquisition marketplace, an all-cash buyer is as rare as a balanced federal budget. Those buyers who do arrive at the closing table with cash in hand may not be over-burdened with huge bagfuls.
Almost as uncommon as the all-cash buyer is the offer of a valuation multiple that approaches (much less matches) [...]

“I haven’t decided what I ultimately want to do with my business, or when I want to exit, or how much money I’ll need, or whom to sell to, so how can I plan my exit? Besides, I don’t want to exit right now.” If you’ve said this, or thought it, you are not alone. [...]

“Exit Planning? I’ll start soon—I’ve got plenty of time.”
“Exit Planning? I’m too busy. I just don’t have enough time.”
The problem with both of these statements is that active business owners seldom slow down. We all know that the only things likely to reduce your pace are death or terminal burn-out. This is not to imply [...]

Let’s review the four areas where business owners who want to both survive in today’s economic climate and emerge from it poised for growth (or sale) can focus their energies. As you may recall, those areas are:

Preserving and Protecting Value
Identifying Value and Cash Flow
Creating Revenue
Creating Value

Most owners are currently waist-deep in the first area: cutting [...]

The Exit Planning process should begins by determining your goals and objectives such as:
The income you and your family will need after you leave the business; and
Who you wish to transfer the business to — whether it is children, key employees or others.
And, Exit Planning involves the determination of business value and the capability of [...]

The current recession has given all business owners, quite literally, pause: pause in growth, pause in hiring, pause to reconsider exactly where our companies are heading — or need to head — if we are to meet our owner-based goals.
I have discussed the many benefits of using the time afforded by today’s economic downturn to [...]

“You’ve got to be very careful if you don’t know where you’re going, because you might not get there.” — Yogi Berra
It is not always easy to interpret Yogi. In this case, perhaps he is advising you to figure out just where you are headed in your business. As you near the time when you [...]

Exit Planning is an on-going process. It begins with establishing your objectives and a valuation of your company and ends with your successful exit. Along the way, you and your Team of Advisors look at preserving the value of your company, protecting that value from creditors and increasing overall value. Also important is making contingency [...]

Many, probably most, business owners would like to sell their businesses to their employees, but for one nagging problem: Their employees have no money. The desire to sell out to employees collides with the overarching need for financial security. Owners simply cannot risk selling a business to employees who have no cash.
Take James Johnson, owner [...]

“My investment advisor suggested that I sell my company to an ESOP. Is that a good idea?”
My estate planning attorney recommended that I begin giving my business to my children. What do you think?”
“I’m getting tired of running my business every day. My accountant thinks a sale to a third party is a good [...]