I run a networking group for private equity and real estate investment firm executives. During our meeting last week I was surprised by some of the key takeaways. The main topic we discussed was the fact that private equity firms are looking to invest, but can’t find companies to buy. When they do find a company to acquire, they are crazy expensive due to the low supply. Needless to say the sentiment in the room was that it is a great time for companies to sell, and here’s how to do it!
- Prep your business for sale:
- Clean-up your account and books
- Make your sales and marketing scalable and repeatable
- Have a rock solid executive team
- Be on a positive revenue track
- Package your story:
- Put your story into a management presentation
- Make sure you have your company’s proformas as well as financial story including revenue, profit and cash flow
- Make sure to highlight why your company is not just unique, but better than the competition
- Make sure you tell your story in a way that is compelling and really highlights the value that you bring
- Hire an investment banker:
- Hire an investment banker that you like and trust to represent the sale of your company
- Make sure this investment banker/banking firm will market your business and get competitive bids
- Prepare yourself for your own future:
- Are you willing to stay on and run the company as part of a transition period?
- Do you know what you would do if you were done working? (Better make sure you have a plan to keep busy and stay mentally active)
Now with these tips in mind it’s time to explore the idea of selling your business. The market is hot and the prices are as good as they have ever been. Prices are close to what they were during the “dot-com” era. Have fun and reap the rewards for all your hard work over these years! Brand Iron can help package your company to get acquired, visit www.brandiron.net call 303-534-1901 to see how our services can help!
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