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How to Aquire a Business or Sell Your Business to Investors

Episode 33 – August 20, 2019

Today we chatted with Bill Bath about his specialty, Mergers & Acquisitions. If you’ve ever wanted to sell your business or acquire one, we have several tips from Bill that can help you in the process. Bill is a Managing Partner of Legacy Mergers and also Charlotte Chairman of 12 Mavens; an invitation only community of CEOs and entrepreneurs that meet together to grow and challenge each other in a confidential community setting. 12 Mavens has chapters all across the country and helps  CEO’s operate at their highest level. 

2 Simple Tips Before you bring your Business to Market:

  • Tip 1: Make sure your Books are Clean! You want to make sure no-one is running personal expenses (like a home, yacht, or vacation) through the company.
  • Tip 2: Figure out what are you going to do next? Do you want to retire and live that beach life? Are you selling to fund your next venture?

3 Tips to Aquire Someone Else’s Business:

  • Tip 1: There will be risk. Know what risk you are willing to take and where you draw the line.
  • Tip 2: Look for clean books – or cleanish.
  • Tip 3: Know your strategy. You have to know what will be beneficial to your business

3 Risks to Look For: 

  1. Quality/ Stability of Financials – How much debt do they carry? What type of cash flow do they have?
  2. Culture – Does theirs mesh with yours?
  3. Synergy – Will absorbing them produce a greater effect?

Have you ever acquired a business? We want to hear from you! Tell us any tips or takeaways you learned in the process. 

You can connect with Bill on Linkedin  or Legacy Mergers website  and check out the 12 Mavens site!

 

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