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Selling your business in a down market

We received the monthly BizQuest newsletter and had to share the articleby Michael Coyle as it’s a very relevant topic and talking point which needs to be discussed between business owners and their advisers: Selling or planning an exit in a down market.

Statistic:  “”It is estimated that less than 15% of business owners have developed an exit plan from their business, despite the reality that it is a certain outcome for every business owner.”” 

Only 15%??  This is an alarming number, especially for baby boomer business owners.  The first step in this process is having an idea of what the business is worth through a business valuation.  Otherwise, the business owner is operating blindly due to the common errors and wrong assumptions in an owner-driven valuation.

“”We have been experiencing variable economic conditions in the last few fiscal quarters which seem certain to continue for the immediate future. Selling your business in what would be considered a weak economic time, however, can produce outstanding results based upon two realities:

  1. The value of closely held companies is most often determined by internal attributes of the business and less from external economic factors.
  2. QUALITY sells in any economic market.””

 If you own a stable and growing business, with predictable revenue and discretionary cash flow, you have a QUALITY business.  Size and industry will greatly drive the supply and demand of sellers and buyers, but during this economic down turn, it’s critical to protect the value you’ve established!  Don’t sit idle in a down market as this could greatly hurt your company’s valuation.  Owners who plan today, can execute tomorrow with success and precision.

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