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Many business owners envision a successful sale in the future. But how many have walked through a term sheet, all its nuances, with their peers in a risk-free environment?

Attendees at Day 2 of our “Selling Your Business” program can now count themselves in this camp.

“Every deal is unique and has its own detours and surprises, but selling your business has discrete steps that all business owners should know.”

This how Kevin Cudney, M&A attorney with Brownstein Hyatt Farber Schrek, opened last week’s “Selling Your Business” program held with Janiczek Wealth Management.

selling business event
And Kevin should know. His latest deal in which he worked with Janiczek’s Brian O’Neil to help a couple sell their $11 million landscaping business closed that very morning, and it included its own 11th hour dramatics.

brian1-002On October 20th, Brian O’Neil spoke on a panel discussion in front of roughly 75 attendees at the Grand Hyatt Denver.  Brian spoke with four other business planning, legal and finance professionals to discuss the next steps for business owners. The goal of the panel discussion was to provide relevant and actionable advice on how to handle the next stages of their company’s progression.

boardroomJaniczek recently hosted an expert team of five respected advisors to discuss business exit planning for high net worth individuals. Around the table sat five like-minded professionals who interacted in a case study regarding an upcoming business sale and the necessary steps to complete the transaction. The group included an estate attorney, a consultative tax professional, a life insurance advisor, and two comprehensive wealth management professionals.

The case study focused on four key areas:

When successful business owners start the planning process of selling their business, in many cases the largest asset that person owns, many are looking at things such as; what multiple of my Business-sale-image 02.19.16EBITDA is reasonable, what business broker or investment banker should I be using, etc.?  The first step in the process really starts with the question “how much do I need to realize from the sale of the business to fund my family’s lifestyle for the remainder of our lives?  I like to equate this process to building a home, if your foundation (or in this case accumulation needed), is not thoughtfully and carefully calculated and executed the rest of the process is built on shaky ground.

Selling Your Business

I recently presented to a room full of successful business owners on the topic of “ensuring your business is part of your retirement strategy”. What became immediately clear was the level of success these individuals have recognized as they continue building their respective companies… and ultimately their net worth. The stories shared had many similar financial characteristics including: record sales growth, impressive earnings, strong revenues, great cash flow, ability to reinvest back into their companies, as well as healthy distributions back to the owner that allowed for living an enviable lifestyle.

Stepping away from the discussion of their shared business successes, I inquired on how many owners had a concise vision of when they planned to step away from their business and what their ideal retirement (or post-business life) looked like. Roughly 50% of the room raised their hand with the majority planning to exit within 3 to 10 years. They shared visions of extensive travel, second homes, giving back to their communities, spending quality time with family, new hobbies, starting a new business, etc. The overriding goal was to be financially independent of course!


*Ranked/Named among Top, Best and Most Exclusive Advisors sources: Barron's March 2016, 2015, 2014; Advisory HQ March 2016; Financial Times June 2015; Five Star Professional November 2015, 2013, 2012,2011, 2010, 2009; Mutual Funds Magazine January 2001; NABCAP September 2010, 2011, 2013; Worth Magazine July 2002, January 2004, October 2004, October 2008; Wealth & Finance International, October 2014. Rankings and/or recognition by unaffiliated rating services and/or publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Janiczek Wealth Management is engaged, or continues to be engaged, to provide investment advisory services, nor should it be construed as a current or past endorsement of Janiczek Wealth Management by any of its clients. Rankings published by magazines, and others, generally base their selections exclusively on information prepared and/or submitted by the recognized adviser.

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