Editor’s Note – The following article was written by Rudi Scheiber-Kurtz, CEO of Next Stage Solutions in Burlington, and Gregory R. Rush, Partner & Co-Founder of Dunn Rush & Co. of Boston. They will lead a webinar for AIM and the Exit Planning Exchange New England called “Would You Buy Your Business?” on Wednesday, Dec 6 at noon.
Would you buy your business?
A provocative question indeed, knowing that most business owners will not be able to sell their companies when they’re ready.
It’s discouraging when a business owner realizes that she or he will not get the multiple needed to create a comfortable retirement. According to a recent Forbes article “many owners probably won’t be able to sell their businesses when they’re ready, because they are not taking the critical steps.”
How do you fare in building value for your business, whether in growth mode or ready to sell in the next few years? Have you done a benchmark assessment to understand where you stand today? What strategic plans have your drawn up for the next three years to achieve sustainable growth?
The December 6 webinar will allow us to take you through the “why” and “how” of building value for your business. The first part will review benchmarks from a buyers’ perspective and why it is important to focus on these pieces. The second part will give the “how” tools with seven modules so you can systematically create value over time.
The stakes could not be higher: Getting your business into a scaling and growth mode and increasing the valuation of your business will determine whether you can fund your retirement.
Sometimes you can’t see the forest for the trees. Understanding what a buyer thinks of your business will help you to improve the way in which you address market demands. Taking you out of working in the business to working on the business will transition you from manager to leader, an important next stage for your business.
Yogi Berra’s famous quote “When you get to the fork in the road, take it” is a great thought, however, if you get to the fork and get stuck, you may not have any option about which road to take.
This webinar will be a first step to understanding the perspective of a buyer and what you need to focus on over the next few years.
Associated Industries of Massachusetts is presenting the webinar because many of the association’s 4,000 member employers are small or family-owned companies that struggle with transition strategies.
“Sure, AIM counts plenty of internationally recognized corporations as members, but the association has always had a core membership of small to medium-sized employers who often never have the opportunity to see their businesses the way a potential buyer does,” said AIM President and Chief Executive Officer Richard C. Lord.
The one-hour webinar will provide plenty of time for your questions.