Succession Planning Approach- Quick Thoughts

What the business may need to do

• Productize- What are you best at?
• Positive Cash Flow
• Hire Sales Team
• Stop Selling Everything Else
• Long Term Plan for Managers
• Find a Business Broker
• Tell the Team
• Convert Offer to Deal

What I may need to Do
1) Work to Recast the Financials (need 2-3 years Financials)

• Develop a Valuation

2) Write 3-year Business Plan

• Long Tern Vision
• RE-discover Strengths
• Re- Develop Customer Acquisition Strategies
• Get the Business to the Point where
• Profits are up,
• Business Runs more efficient
• Overhead is Down

3) Develop all information in a “Book” (Valuation) of the Business
4) Develop a list of Potential Buyers

• Strategic and Financial

5) Field Offers
6) Close

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