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Timing Your Business Sale....Speed and Variables Matter
Timing Your Business Sale: The Exit May 2, 2019 by Michael Shea PA (Edit) Timing the sale of your business is critical. All too often when a business owner considers selling their business, the fail to factor the time it takes to sell and the variables associated with their business. So the purpose of this blog is to set some expectations and give business owners some time considerations as well as some other factors that impact a deal. How Long Does It Take To Sell A Business How Long Does It Take To Sell A Business? The National Average is 8 to 12 months. I have sold one in as little as 5 days but that is far from normal. Why so long? Well lots of reasons ranging from overpricing, bank qualification, immigration delays, interest rate changes, due diligence discovery issues, and a million others. Also, keep in mind there are seasons to things both in the short term (summer, fall, holidays) and the long term (election years, Brexit, recessions). As a busin...
Negotiation in a Business Sale and Beautiful Mind
Negotiation in a Business Sale and a “Beautiful Mind” March 10, 2017 by Michael Shea PA All too often in business sales when negotiating a deal a seller or buyer and or their representatives look to defeat the opponent and “win”. Statistically speaking when reviewing outcomes of deals the reality is that when this approach is taken one simply does not win in the long term. Several years ago, there was a wonderful film called “A Beautiful Mind” starring Russell Crowe. The film chronicled the life of American Mathematician John Nash. Nash suffered from severe paranoid schizophrenia but pioneered the game-changing thought in “game theory” and differential geometry. If the sale of a business is anything it is a game. I would challenge all of us as principals and as consultants and intermediaries to rethink our theory regarding negotiation. The following video largely demonstrates both the traditional mental model regarding negotiation and Nash’s innovative appro...
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