Vance interviews Rich Hall, Certified Exit Planning Advisor (CEPA) with Silver Fox Advisors, who specialize in small and mid-market business growth and exit preparation advisory services.

Rich answers these questions about preparing to exit your business:

• What’s this transition of wealth you’re talking about?

Baby Boomers own about 2/3 of all privately held businesses. Over the next 2 decades, they’ll be looking to sell or transfer their business so they can retire. That’s estimated at $7 Trillion of wealth will potentially transfer to someone else.

• If the business is generating positive income, what are some reasons why it won’t sell?

Too much dependence on the owner, Too high a concentration of clients (20% of revenue from single client or client group), Services company that relies on people that may leave if owner sells

• for the business owners out there, what should they be doing?

First, they need to get a picture of what the company is truly worth. It may be worth more than they think or a lot less. Most companies today are valued by a multiple of EBITDA (a form of net profit), They should also look at the company from a buyer’s perspective. What would be the value from a pure investor? What gaps exist in people, processes, systems, sales/marketing, etc.

To find out more, Rich can be reached here: www.richhallgroup.com

+1.713.301.5606

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