If business partners had a special knack for seeing into the future, and avoiding issues that can destroy a business, they would surely draw up a buy-sell agreement long before one of the partners dies, retires, becomes disabled or suddenly chooses to leave. Without the legal contract, they will struggle to keep a clear head
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This is a really tricky question. I’ll attempt to offer a way to quantify (at least in part) when may be the best time for a business exit. As I write this, our economy is humming along really well, and a lot of business owners who might be thinking about a business exit are
When it comes to negotiations in mergers and acquisitions, or even business disputes, you want to come to the table with leverage and a strong position. One of the best ways to strengthen your hand is through BATNA. The acronym means best alternative to a negotiated agreement – in other words, your most advantageous options
Investment bankers are like cardiologists. We can help a lot – especially in critical situations. However, it’s really important that we talk once in a while to make sure things are on track. If you wake up in the morning and find that you need us urgently, you’re probably in big trouble. We all know
Who will run the business when the owner steps down? Will the company have what it needs to continue operating successfully? Will there be enough cash to cover company debt and taxes? These are some of the questions that make succession planning so important. Here are just a few of the many benefits of succession
Summit Advisory Continues Sponsorship of The High Center for Family Business Summit Advisory is proud to partner with The High Center to serve and strengthen family businesses. In addition, Summit Advisory is a Silver Sponsor for the April 16, 2019 Family Business Forum. This forum will feature keynote speaker, Alan Mulally, former President and CEO
By Jen Vogelsong, Contributing Writer Many people have worked for a company that has been bought by or merged with another. The difficult process can cause worries about changes in corporate culture, job descriptions and employment security… Ronald Myer, President of Summit Advisory in Lancaster has been quarterbacking such deals for 14 years. He took
As I write this, our economy is doing really well and many companies are growing. However, those of us who have been around a while know that things will change. We will once again face the pressures of a down economy, and many businesses will struggle to achieve healthy growth. When faced with this pressure,
Selling a business is often a confusing and difficult process, and most business owners only do it once in a lifetime. Very few go through the process enough to really become comfortable with the ins and outs of selling a company successfully. Writing directly to business owners, here is my list of the top five major mistakes that you absolutely must avoid when it’s time to take an exit.
Frequently, when it’s time to take an exit, business owners will reach out to someone they know – a vendor, a customer, etc. and put together a deal to sell their business. That’s what business owners do, they put deals together. It makes sense on the surface, but the results are often disappointing. We recently