In order to increase the probability of a successful sale, entrepreneurs need to develop a roadmap for transition. Whether a sale is near-term or many years away, factors such as growth prospects, financial health, management team, and strategic fit must be considered to maximize business value and exit your business with confidence.
In this informal session, Sid and Calvin will review critical steps entrepreneurs should consider in developing a business transition plan and building the right team to support the transition. You will learn about the process they followed to sell local business Northwest Equipment Ltd. from both the perspective of the seller and merger/acquisition advisor. Sid will reflect on his personal experience with “working himself out of a job” and defining what retirement or life after business looks like for him and his family.
Key takeaways include:
-Consider the big picture and timing of a business sale including method of transition, when the owners/shareholders are ready, when the business is ready and when the economic environment is ready.
-How to prepare your business for sale and what elements make it fundamentally sound, marketable and attractive.
-How to navigate business valuation and strategies to maximize cash in your pocket after the deal has closed.
-Defining your personal financial goals and post-business lifestyle to ensure you feel good about your decision to sell.
7:00 pm – Event check-in, light refreshments served
7:05 pm – Speaker presentation
8:00 pm – Q & A
8:30 pm – Event wrap-up, gather event feedback