It is amazing how life events can cause a business owner to re-think, reevaluate, and reexamine his/her life and future. We meet entrepreneurs regularly at our exit planning conferences who are attending because of a recent “wake-up call” that caused them to stop, reflect, and decide that maybe now is a good time to start the M&A process.
Mike Aman, one of our clients and the owner of One Source Communications, was one such fellow. You can hear his personal wake-up call here:
As you learned by watching the video, several life-changing events occurred that caused Mike and his wife to step back and realize that if something tragic were to happen to him, major changes would need to be made – changes that if not planned for could have a dramatic impact on the business, his family, and his financial legacy.
The key word Mike used is “plan.” He intuitively realized (with some helpful prodding from his wife) that without planning, the final M&A event could be far less satisfying than what he would have achieved with some basic exit planning guidelines.
So, he attended one of our M&A conferences and learned a great deal about how to find an optimal buyer. His situation wasn’t that much different than many of our clients: too young to fully retire, with lots of plans to grow the company, and a need for capital to make the plans come to life. In fact, his story is very similar to another one of our clients, David Kerr:
Again, the key to both of these stories is one word: planning.
As the old saying goes, if you have no idea where you are going, any road will get you there.
Although sometimes spontaneity is great in life, it is not conducive to exit planning, especially if you want to close a deal with an optimal buyer, which both Mike and David did.
The best advice we can give business owners regarding this is two-fold:
In reality, these two points go hand in hand. Hiring an M&A firm early will allow them to provide you with professional advice in two key areas:
Again, these ideas are vital in combination. If you start early in the exit process, you will have time to implement your advisor’s ideas on how to enhance both the attractiveness of your company to buyers and which buyers to ultimately approach based on your personal motivations and financial goals.
Both David and Mike, as is true with all of our clients, had unique needs and motivations driving their process. Our strength as a company is that we have dealmakers with the experience necessary and who take the time to clearly understand our clients and their needs.
So, if you are at a point in your life where the concept of developing an exit plan is at the front of your mind, or if you are simply interested in learning more today to use in the future for your business, then attending one of our complimentary, no-obligation conferences is a great idea.
We hold these throughout the country and Canada because we are firmly convinced that one of the major issues facing our economy is the lack of exit planning by the vast majority of business owners today.
To learn more, follow these links:
By Carl Doerksen, Director of Corporate Development at Generational Equity.
© 2017 Generational Equity, LLC All Rights Reserved
Tom Staszak is one of the most professional people I have dealt with in my last forty years of business. You’ve got a great group of people and you have built a truly professional organization.Michael J Polarek, President, Paragon Packaging
Michael worked tirelessly, He followed every lead meticulously and urgently to make sure nothing was missed.Robert Evans, President and CEO of Mealtracker Dietary Software
We are extremely pleased with the way Generational Equity handled the sale of our company. Your associates, Tom and Chris, did an outstanding job of getting us (me) through the process.Michael J Polarek, President, Paragon Packaging
I wanted to write you a quick letter to express our appreciation and our delight on the outcome of helping us through the process of our recent sale. We are very happy with the end result, and are very happy to be able to move forward with all of our future growth plans.Terry D. Wickman, President, Keytroller
Greetings Mike. Thank you for the captivating and compelling presentation you made at the Phoenix presentation last week. Over many years in business yours was the most informative and well-presented presentation, on any subject, that I have ever attended! Your energy and enthusiasm combined with your concise and captivating support of your positions with easily understood examples and data was compelling.Pete L.
Your wisdom and experience were invaluable to me during this once-in-a-lifetime transaction.Ralph Noblin, President of Noblin & Associates
We thank you Eric and Generational Equity making our dream come true.Larry Moore, Owner, A Company Portable Restrooms
Generational Equity educated and informed us – so that we could be on the upside of a good decision (to sell).Bil MacLeslie, CEO, ipHouse
We knew it would be a difficult task to have someone really understand our business and our market, prior to researching a possible buyer, so it was imperative that we found someone of your caliber, with definite proven experience in this area.Rick Nowak, President/CEO, Kurz Electric Solutions, Inc.
Generational Equity’s assistance was invaluable in compiling and marketing our business.Bil MacLeslie, CEO, ipHouse
I must say that I have never worked with a more driven, competent and focused individual as Don Ho.Jay Dinnison, Owner of Sharpe Mixers
We will highly recommend Generational Equity and Musa Jagne to any business owner about to embark on the same process.Karen S. Williams, CFO, BW Manufacturing
Thank you again for all your guidance and support. Any company will achieve what they intend, if they have you on their team!Rick Nowak, President/CEO, Kurz Electric Solutions, Inc.
We are very happy with the end result, and are very happy to be able to move forward with all of our future growth plans.Rick Nowak, President/CEO, Kurz Electric Solutions, Inc.
The process was much more involved than I expected and your help, experience and advice was a big factor in making the negotiations go as smoothly as possible.Terry D. Wickman, President, Keytroller
I would like to thank you and your firm, Generational Equity, for being our valued advisors in our journey.Bil MacLeslie, CEO, ipHouse
I couldn’t have asked for a better team than Michael and Deborah. We couldn’t have done it without them.Robert Evans, President and CEO of Mealtracker Dietary Software
Thanks again Phil and feel free to have a future client call me if they would like a referral. You are a true professional!Andy Graham, Vice President, Modern Heating & Plumbing
Bruce and I wanted to take this opportunity to thank Generational Equity for assigning Musa Jagne to our transaction. In Bruce’s words, “Musa did one hell of a job for us!”Karen S. Williams, CFO, BW Manufacturing
The help you provided us during each step of this process made us feel very comfortable and confident we were selecting the right approach to transition our Company.Andy Graham, Vice President, Modern Heating & Plumbing
I quickly recognized that Don was working for Sharpe Mixers above all else, and held our interests above others.Jay Dinnison, Owner of Sharpe Mixers
We were happy to see the interest in our company and what we cherished has not just a valuable company but an important company to the communities we served in.Larry Moore, Owner, A Company Portable Restrooms
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