According to a 2018 business trends study, more than 40 percent of current business owners are preparing to exit. Yet many are unprepared to sell:
- 58 percent have never had their company appraised;
- 48 percent have no formal exit strategy;
- 37 percent have no structures in place to shield cash proceeds
“Our first ‘Prepping the Princess’ event was extremely successful and business-exit topics continue to be among the most requested on our ‘In-Process’ podcast, so we felt as though it was the perfect time to bring back this popular event for Round 2,” said Evelyn Ashley, managing partner, Trusted Counsel. “Being prepared for a sale transaction not only gets you increased value from a purchase price perspective but also affects the time you spend in the process, which is rigorous. So, when you're prepared, the credibility with the buyer goes up that much more as well as increases the probability that you will have a successful transaction.”
Ashley added, “It pays huge dividends to get perspective from experienced legal, investment, accounting, advisory, branding, and wealth-management professionals who understand what sellers and buyers think about when going into a transaction.”
Attendees can expect to learn:
- What makes a business attractive to a buyer?
- What steps can be taken inside the business to make it more appealing for the sale;
- How does branding factor into your plan for an exit?
- How do you know your business is ready for the "Transaction Dance?"
Panelists will include Manan Shah, managing partner, FOCUS Investment Banking; Michael Levy, partner-in-charge, Transaction Advisory Services, H+W | Aprio; Doug Tatum, chairman of the board, Newport Board Group; Peter Baron, founder and principal, Carabiner Communications; Jonathan Fitzgerald, vice president and director of wealth and fiduciary planning in the Southeast, Wilmington Trust; and John Monahon, partner, Trusted Counsel. George Shea, a FOCUS partner and IT team leader, is slated to moderate the panel.
The fee to attend the event is $35, which will be donated to LaunchPad2x.com, a 501(c)(3) organization that provides mentoring and training for future CEOs. Subscribe to our show "In Process Podcast on iTunes to receive all of the episodes of the "Prepping the Princess for the Party: Is Your Business Ready to Sell? episodes as well as future episodes to your smartphone.