Acquisition Coaching
Are You Trying To Figure Out If Selling Your Business Is The Right Choice?
Do you want to make sure all your bases are covered before selling your company?
Has your emotional attachment to your business made it hard to let it go?
Do you wish you had someone supportive and financially adept that you could talk to?
Maybe you’ve been thinking of selling your business for a long time, but your uncertainty about doing so prevents you from taking action.
Perhaps you don’t have the right pieces in place to hand to get a great price. Before you commit to selling, you want to make sure the business is in good hands, your legacy is protected, and you won’t be leaving a lot of money on the table.
Additionally, you’ve probably grown to love your business as if it was your own child. The idea of letting it go could be incredibly difficult for you. For the first time, you may be thinking of talking to a coach who can guide you through the process of business acquisition.
You Might Find It Hard To Get Trustworthy Advice On Selling Your Business
Figuring out who to talk to can be a huge challenge. After all, it’s not advisable to talk with your employees too early in the acquisition process. What’s more, many small business advisors don’t have experience selling a business. Other folks—such as bankers—often do have the relevant experience, but they also have a strong vested interest in convincing you to sell so that they can get a fee. As a result, you might feel unsure of where to turn for trustworthy advice.
If this is how you feel, I encourage you to connect with me. In my acquisition coaching program, I specialize in helping small business owners figure out if selling is the right decision and making sure all their bases are covered before doing so.
I have a wealth of experience buying and selling companies, serving on boards, and coaching business leaders who are in the process of exiting their companies. I can help clients with both the logistical and emotional aspects of selling a company.
Have any questions? Send me a message!
Small Business Owners Face Many Hurdles When Selling Their Companies
According to the UBS Investor Watch Report, nearly half of all business owners who want to sell their companies have no concrete plans for making it happen (1). Additionally, only a small fraction of businesses that want to sell actually succeed in doing so (2).
Needless to say, the process of selling a company is incredibly stressful. Finding suitable buyers often ends up being a multi-year process, and many sellers don’t begin the process until they are in a rush. Small business owners frequently struggle with succession planning and have no one else they can reliably entrust with running their business in their absence. On top of that, there is so much advice from bankers and advisors that can be hard to make sense of.
In the face of all these complexities, getting guidance and support from someone with financial expertise is essential.
There Are Also Many Emotional Barriers To Selling A Business
Hashing out all the financial concerns related to selling a business is hard enough. But what’s even harder is the emotional aspect of the process. After all, most small business owners are dreamers who have dedicated so much of their lives to envisioning, building, and sustaining their companies. They become emotionally attached to their work—and that’s a good thing. The only challenge is managing their emotions when they decide it’s time to sell. For some, the process of letting a business go can feel like letting go of your baby.
To make matters worse, most small business owners end up managing these emotional challenges in relative isolation. They’re not supposed to talk to their teams about what’s going on, so they deal with it alone—often for months or even years. This is why it’s so important to seek an acquisition coach that you can talk to during this process.
Coaching Can Help You Navigate The Acquisition Process Smoothly And Wisely
Before turning my attention to coaching, I spent 15 years woaking on Wall Street as a banker, investor, and private equity professional. I frequently advised companies on merging and acquisition, so I know how M&A processes work. I know the pitfalls companies fall into, the things investors are looking for, and the strategies owners can use to maximize the value of their businesses.
Unlike most financial advisors, I also have extensive experience working as an executive coach and have been trained in several therapeutic modalities. This enables me to empathize with the emotional aspects of selling a business in a way few Wall Street folks can. I use both my hard skills in finance and soft skills as an advisor to help clients move through the acquisition process with confidence and clarity.
As an acquisition coach, my goal is to help you clarify your goals, refine your negotiation strategies, identify necessary business adjustments, and work through the emotional ups and downs of selling your company. The partnership we form can help you prepare for the business sale years in advance. It can also give you the support you need to navigate the emotional complexities of selling the business you have grown to love.
What To Expect In Acquisition Coaching Sessions
First things first, I will focus on getting to know you and learning about your hopes and fears surrounding the sale process. Next, we’ll outline all the steps involved in selling your company and review your company’s financial statements and operations. I will make suggestions based on how I think investors will look at the company and facilitate sessions with you (and any co-owners) to determine what you want to do.
From there, if you decide to pursue a sale, we can begin implementing changes in your business to prepare it for sale and maximize its value to potential buyers. I will act as a trusted advisor and help you evaluate bankers and interpret communication from them that’s often hard to understand. Once offers have been received and decisions have been made, we can work on processing your emotions and coming to terms with this new chapter of your life.
In the end, my ultimate goal is to help you make decisions from a financially savvy and emotionally wise place. I know how stressful it is to let go of something that’s so near and dear to you, but with my support, I’m confident that we can make the acquisition process smooth and successful.
You May Have Some Questions About Acquisition Coaching…
-
As soon as you’re thinking of selling your business! There is so much important planning that you can do years in advance, so beginning the conversation early can help you in the long term. That said, you can still seek support even if you’re already well along in the acquisition process. It’s never too late to get the perspective of an independent advisor.
-
Bankers are commission-based advisors who only get paid if you sell your business. Typically, they are hired after a seller has already made up their mind to sell. By contrast, an acquisition coach offers consulting for small business owners and their teams over a much longer period. This makes their advice less biased and more trustworthy, since they don’t have as much of a stake in your company’s sale.
-
I offer two main products. One is an acquisition audit, which means I meet with the business owner, do a deep dive into their business, and then create a report on how buyers are likely going to view their business when it’s for sale. The other is acquisition coaching. This means that I’m hired on a monthly retainer to work holistically with the owner and help them logistically and emotionally prep for the sale process.
Selling Your Business Doesn’t Have To Be So Stressful
If you want to give yourself the peace of mind that you deserve during this time of transition, I encourage you to pursue my coaching program for small business owners. To get started, you can use the scheduling form or call 952-913-5174.
(1) https://www.ubs.com/global/en/media/display-page-ndp/en-20180213-entrepreneurialism-is-booming.html
(2) https://howtoplanandsellabusiness.com/how-to-sell-a-business-newsletters/amazingly-poor-business-sale-statistics/