selling your business

Thinking of Selling Your Business?

If you’ve built a good business as a CEO and are thinking that it’s time to sell – consider this question:   How are you going to get the company ready to be sold at the highest price possible? Not being ready can cost you millions of dollars. The fact is that most CEOs have never sold a business before – and for most CEOs, this is the most important financial transaction of their life. And if you ask private equity buyers (and if they were honest), they would tell you that most of the companies they see are NOT ready to be purchased. Often they don’t mind, however, since that means that the private equity firm can buy the company for less than they would have paid otherwise.   In other cases the business is so NOT ready that they won’t even bid to buy the company, regardless of how attractive the industry sector or management team might be. Either way, the current owner of the business loses. A good example is a company that I’ve worked with for two years. We were hired to initially represent the company in a sale to a private equity firm which had knocked on …