Selling your business is something most entrepreneurs do once. It will represent a lifetime’s worth of work. So why not get the most out of the opportunity? I’ve been through it myself, and trust me, you want a pro on your side.
Jerry Clark is the Founding and Managing Officer for SealedBid, a merger and acquisitions firm that was founded in 1993. Over the 25+ years since starting SealedBid, Jerry has worked with hundreds of individual owners to sell their business and successfully marketing their companies to qualified buyers. On the show, Jerry explains his company’s transaction process, how a company can sell their business successfully, and the steps buyers go through.
During the sale process, you still have to continue to run the company and not forget about what needs to be done. Click To Tweet
[2:45] Jerry discusses his company’s structured transaction process.
[6:20] You need a couple of years to set your business up for a successful sale. You will not get the full value if you tried to sell it in less than a year.
[8:05] Similar to how you get your house ready for sale, you want to put essentially a fresh coat of paint and clean out the cobwebs in your company.
[12:05] How do business owners sell successfully without letting their competitors know?
[15:30] Jerry discusses the steps involved on how to execute the sale of your business.
[22:05] What do buyers need to go through when they’re looking to buy a company?
[25:10] What’s the difference between a binding and a non-binding letter of intent?
[30:35] Jerry lists some common mistakes that can derail the sale process.
[33:45] Jerry offers some key advice for owners who are interested in creating a plan to sell their company.
If you are a Freshly-Minted CEO taking on the leadership of the company for the 1st time. If you are feeling the weight of the world on your shoulders, reach out to Dynasty Leadership to build a 3 year head start and create a 10x valuation of your business. Dynasty Leadership is a Minnesota based, leadership and consulting company that specializes in “freshly minted” CEO’s.
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