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Business Transition and Exit Planning

Business Succession Planning

Succession Planning and Exit-Strategies Are Too Important to Ignore

Business owners say they understand the importance of transition planning, yet few actually plan their exit. What is going to happen when you finally relinquish day-to-day control over your business? Are you going to sell it and live off the proceeds? Do you have a successor lined up to continue your legacy? Only you can know but, whatever you have in mind, it pays to have a formal and well thought-out succession plan and exit strategy.


Pre-Sale: Cleaning Up Your Balance Sheet

Before you sell your business, make sure to minimize your expenses and maximize your presented earnings.
You’re a business owner who is contemplating a sale. Intuitively, you understand that it’s important to make your business look as attractive as possible to potential buyers. If you haven’t sold a business before, you probably don’t know the best way to accomplish this.


Seller Financing: How to Strengthen Your Deal

In the right circumstances, seller financing can be the key to negotiating a better deal or closing more quickly. Seller beware, however, because cash is king and you will have to sue a buyer who defaults on an obligation to pay a Seller Note.


How Do I Evaluate Multiple Offers? 

If you are fielding multiple offers for your business, it is important to keep a sober perspective and to work toward strengthening your final agreement. As the seller, you probably have greater leverage in a multi-buyer situation, but that does not necessarily make it an easier sale.


What Is the Due Diligence Process?

Buying a business is not like buying other assets. Much of a business’ value is intangible, and many of its component parts are difficult to price correctly. A wise purchaser relies on the due diligence process for protection.


Business Transition and Exit Planning Glossary

Assignment and Assumption Agreement An Assignment and Assumption Agreement is an agreement between a seller and buyer by which the seller (the assignor) transfers its rights and obligations under one or more executory contracts to a buyer (the assignee). The assignor may not be completely relieved of potential liability under a contract being assigned. Audited […]


Getting Started with Business Transition and Exit Planning

You are a business owner. You have worked hard, possibly for decades, building your business. You are smart. But you have never sold a business before. You have questions. Lots of questions. Where do you start? To whom do you turn? Your lawyer? Your accountant? A business broker? An investment banker? Who will you sell your business to? What is your business worth?


Leading the Process: Investment Banker vs. Business Broker

To hear from other experts on this subject, we recommend this webinar. The proper role of a financial intermediary is to connect two parties who haven’t figured out they need each other yet, and to help craft a better deal than those parties could have made on their own. If financial markets were perfect, you […]


What Is a Confidentiality or Non-Disclosure Agreement?

Mergers and acquisitions (M&A) typically begin with some form of confidentiality agreement, or non-disclosure agreement (NDA). The NDA offers protection for sensitive information that may come up during due diligence. The goal is to protect confidential information from a third party’s eyes.


How to Find the Right Buyer for Your Company

You can sell your business to the right buyer (and avoid major headaches) with some basic understanding and the right people around you. Chances are you’ve never done this before, and almost certainly not enough to become an expert. Sometimes you only get one shot to sell it to the right buyer. And it can quickly become overwhelming without the right connections and experience.


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