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Selling Your Business

letter of intent

When Should a Seller Sign a Letter of Intent?

A letter of intent is used in the purchase and sale of a business to set forth the framework for the negotiation of definitive transaction documents and closing of a transaction. Normally, a letter of intent does not create a binding contractual obligation to purchase or sell the business. However, a non-binding letter of intent […]

Distressed Debt Investing

An Alternative Exit Strategy for Distressed Business Owners

What happens when a family business with debt and no exit strategy faces a crisis? Read about their alternative solution: a distressed debt investor.

Letters of Intent (LOI)

Reading and Writing a Letter of Intent

Think of the LOI as akin to a father asking his daughter’s date, “What are your intentions with my daughter, young man?” but doesn’t have to be that intimidating.

business sale confidentiality

Protecting Potential Business Sale Confidentiality

How Non-Disclosure Agreements and Precautions Can Save a Business Deal In the summer of 2014, French asset manager Vincent Le Stradic boarded the train from London to Paris. Deciding to work on the train, Le Stradic laid bare the details of a $15 billion deal in which the mobile provider Iliad would be taking over […]

Strategic vs. Financial Buyers

Strategic vs. Financial Buyers: Distinctive Ways of Acquiring Businesses

Buyers’ End Game Affects Suitability As an owner considers a sale of a business, it is critical to identify the goals of the transaction, and match those objectives with the most suitable prospective buyer. There are many different kinds of buyers that might be well suited to acquire the business. Buyers are often grouped into […]

ESOP is it right for you?

Employee Stock Ownership Plans (ESOPs): Meeting Business Succession Objectives

Does Legacy Rate Higher with You, or Pure Profit? Thinking about selling your business? Is maintaining its integrity and mission more important to you than pure profit? Then an Employee Stock Ownership Plan may be something to consider. Some business owners simply want to derive the highest value from the sale of their company, and […]

BTEP

Business Transition and Exit Planning: Welcome to the Jungle!

BTEP: Where Should You Start? You are a business owner. You have worked hard, possibly for decades, building your business. You are smart, and the business has been successful, but it is time to move on.  Perhaps you want to retire; maybe you want to try your hand at something new. Regardless of the reason, […]

selling a business

Banker, Broker or Sell it Yourself: Choosing the Right Method When Selling Business

So You’re Selling a Business: Now What? For most business owners, selling a business is a once-in-a-lifetime event. These owners want to maximize their proceeds and they may be super salespeople, but likely have little experience selling a business. In fact, their exit may be the only meaningful transaction they experience. This is why it is […]

market terms

Musings and More About “Market” Terms in Transactions

An Overreliance on Market Terms Business professionals commonly negotiate transactions by reference to what is “market.” This makes great sense for the people who are responsible for negotiating price. Valuation and pricing methods are relatively tried and true after all, and math is an exact science. This is not to suggest that buyers and sellers […]

tribal knowledge

Retaining Tribal Knowledge For Your Company’s Long-Term Health

Tribal Knowledge: Be in the Know America is getting older. Not just in terms of it having a birthday every year, but in terms of the percentage of people closing in on retirement. You can thank the aging Baby Boomer population for that. What that says to me is that any company with a significant […]

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