Ego like speed, kills! The names and faces have changed since the late 90’s but the biggest issue remains the same – the owner. Handicapping the business by hoarding decision-making and failing to establish clear roles and responsibilities for team members creates bottlenecks for scaling the business. Extricating the owner from day-to-day affairs is more difficult in a centralized power dynamic.

To strengthen the management team, begin by providing clarity on your team members’ roles, responsibilities and decision-making authority. It’s also essential to define the organizational structure and KPIs for everyone. The next step is to plan for the gradual transfer of responsibilities to prepare the management team for the transition.

Maybe you have some life in your cleats, but you’d like to cash in some chips. Now’s the time to work towards transferring some responsibilities. Maybe you want to call it a day and retire or do something else. Selecting a successor often proves challenging if the candidate is a family member or long-time acquaintance. Here’s where we step up as your sounding board and provide neutral guidance.

Are there any operational inefficiencies to iron out or unnecessary expenses to eliminate? We know most optimal ways to improve processes, and ensure resolution to any pending or potential legal liabilities, as well as any outstanding debts.

Some operational challenges we commonly see are a lack of systemization and an inability to provide in-depth data and insights into the business. We help you pinpoint data that potential buyers will be interested in—from year-over-year growth to the number of locations served, retain and maintain customers, net new customer growth, expansion of existing customer accounts and relationships—the list goes on.

Shifting your mindset from that of a business owner to a business seller is vital. How would potential buyers consider your business over a similar enterprise? Ask yourself these questions:

• What target market does your brand appeal to?
• What are the unique attributes of your products/services/brand?
• Do you have a proprietary method?
• What’s your brand heritage/story?
• What technologies/patents do you have?
• Do you have any endorsements or awards?

Identify your most compelling differentiators and use them to create your unique story. No one knows your business better than you! Presenting your business as the most attractive opportunity with a level of sophistication will appeal to potential buyers.

If you decide to sell to a private investor, family office, strategic or private equity, you will be overwhelmed by the intensity of due diligence. Start today and get all of your relevant organizational and legal documents organized, including:

• Vendor and customer contracts
• Permits/licenses, Formation documents
• Financials, Cap Table, Tax returns, Audits
• Employee and payroll backup
• Insurance information
• Vehicle and asset lists… just to name a few.

We’ll guide you through the process and take some of the burden off your plate.