All too often when I work with a business owner who is thinking of selling his business, I find that he has a need to look at the relative strengths and weaknesses of the business and identify how he can increase business value and grow his business so that he can achieve maximum financial value.

Surely, value and growth are not the only aspects we look at – we also plan his personal growth and transitional goals as well.  But when it comes to the business transition process – I find a regular need to develop a plan to help the owner address value and growth.

Looking at those relative strengths and weaknesses - and developing a value and growth process can involve a multitude of disciplines. 

• A valuation expert needs to assess the financial value, and can be instrumental in assisting the owner in distinguishing not only the strengths and weaknesses financially, but operationally as well.
• An accountant needs to assess the company’s financial condition.
• The owner’s financial advisor needs to assess the owner’s financial goals and objectives.
• Sales and marketing professionals need to assess current state and design a strategy for growth.
• Depending on the nature of the company, legal, operations, logistics, or engineering experts may be needed to improve each distinct system.
• An executive recruiter may be necessary to help the owner identify whether or not he has the right talent on board for the short and long haul.
• The owner may want to retain an interim CEO to help run the company, someone who is skilled at business transitions and transactions.
• The list can go on.

Initially when I work with an owner I find that his awareness of these needs can be quite daunting, and can contribute to inaction – after all – where can you find all these expert advisors.  And that’s where professional associations and senior business consultants can help. 

Can you find them all in one (or two) place(s) – a resounding yes! 

Senior Business Consultants Program

As a transition planning consultant and executive recruiter it’s been common for former owners and executives to ask me to find them work.  So I started the Senior Business Consultants Program.  They may or may not be interested in full time assignments – but they are available to help and individually each can bring over 30 years’ expertise to assist a business owner. 

Here are some examples:

• Some are career entrepreneurs – they’ve run companies, bought and sold companies, prepared companies for sale, and integrated two companies after a sale.
• Some are expert at developing and implementing sales and marketing programs for a variety of companies in a variety of industries, taking these companies through significant growth and value success, including health care and insurance industries.
• Some are expert at insurance, cyber security, digital marketing, information technology, company start-ups, finance, and non-profit management.
• And others just want to be able to run a company while the owner develops an exit plan.

Professional Associations

Fault me for promoting my own association, but XPX (local chapter in Boston)has experts in exit/transition preparation and planning, business transactions, and helping owners build their life and legacy beyond the business sale (also part of my role). 

Here are some examples of expertise:

• Leadership
• Business brokerage
• ESOP’s
• Accounting and CPA
• Law – corporate, estates, family
• Wealth management
• Banking
• Executive search
• Exit and Transition planning
• Business valuation
• Business Management
• Executive and management coaching

If you are a business owner who is thinking of selling your business, rest assured there are professionals who are available to help you plan and execute the transition, transaction, and post-transaction process.  We are here to help.