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Planning on Selling Your Business? Think Again.
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Welcome back to another installment of Lessons by the Lake!
In this episode, we're diving deep into a very important topic for business owners surrounding the sale of their business. Joined by Michael Beck, President of Eliciting Excellence, who works as an executive strategist and specializes in helping business owners maximize the value of their various strategic decisions.
Together, Michael and Bob assess the timing considerations when a business owner is leaning towards the sale of their business, as well as a few key variables at play during this process.
Chapters:
0:00 - Introduction and overview on the topic of the day
1:55 - How Bob and Michael began their professional relationship
5:01 - Insights on Boomer-owned businesses
7:10 - Why Michael is alarmed by some of the statistics he's seeing
9:57 - Bob's father needed someone like Michael to help him navigate these challenges
11:50 - Preparing your business for sale and maximizing the value you'll receive
17:45 - How the human element comes into play during the sale of a business
21:38 - Transparency and clear communication is paramount during these negotiations
24:18 - Michael's key takeaways for selling your business in today's climate
26:17 - How to get in touch with Michael and Bob's respective teams
27:20 - Closing remarks
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