In the world of business partnerships, maintaining a shared vision and strategy is essential for long-term success. Yet, as businesses grow and evolve, differences in perspectives between partners can arise, particularly when it comes to future direction, risk tolerance, and financial priorities.
Read MoreThe Process of Selling an Agency has Changed
Read MoreAn Insider’s Perspective (Buyer’s Strategy)
Read MoreOften when I talk to sellers they have a pre-conceived idea of what their business is worth; 2.5x revenue, 3x revenue, 8x earnings?
While convenient, thinking your firm is worth 2.5x revenue because you are a standard lines retail agency, is a large and unnecessary risk for business owners. Unless you’ve positioned yourself financially to the point where it doesn’t matter what price you get, you’re banking your retirement and your family’s future well-being on a guess.
Read MoreTiming Your Exit
Read MoreMost agency owners have an accounting professional and financial planner they work with regularly but very few have an attorney who can assist with the sale of their business. You need an experienced M&A legal professional to handle the ins and outs of your transaction.
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