Selling Your Business May Be the Biggest Decision of Your Life
You have devoted a lot of time to your business. It has been integral part of your life-to-date. You have now reached the point, where you want to get out and sell it. There are no family members, employees or other shareholder to whom you can transfer the business. Hence, you are considering selling your business to a third party buyer.
Selling a business to a third party buyer involves complex, highly evolved processes, specialized skills, comprehensive knowledge, sound judgment and exceptional resources.
A phased methodology to selling privately held businesses – “Positioning to Win”
At Henberger we make it our business to assist private business owners like you in navigating this life-changing event. We have developed a proprietary methodology to manage the sales process – called “Positioning to Win”.
During this process we act as the quarterback. The purpose of our approach is to maximize the value of your business by completing a successful transaction. Our approach involves a four-step process that guides you through the entire sales cycle.
It starts with a needs validation. During this phase we will help you understand the market and its value drivers, help you define your personal, financial and strategic goals, review the go-to-market process with you and assist you in selecting your advisory team.
This phase also involves a valuation of your business. The current value is compared to the value required to allow you to meet your personal goals. This then helps you validate whether you should sell your business now or later. If a gap is found between the current value and your target value, we have the resources to help you design a value building program to bring the value of your business to the required level.
If the current value allows you to reach your goals, we go on to the next step and launch the tactical phases of the M&A process.
Grooming the Business
The second phase is grooming or preparing the business for sale. During this phase you confirm the team of advisors, that is going to assist you with the transaction. In conjunction with the other advisors we will work with you to prepare you for all questions and issues that may come up during due diligence.
We will also review the role you play in the business and make sure that an adequate management structure is in place, so that the buyer can easily take over the business. Finally, we will discuss your plans for life after business to make sure your transition will be seamless.
The third phase is marketing. During this phase we develop comprehensive marketing materials including a Confidential Selling Memorandum and a one-page executive summary. We also compile a list of target buyers, using our extensive network of industry contacts and databases of strategic and financial acquirers. We review this list with you and you pre-approve the buyers to be contacted. We then qualify potential buyers and start working with you to outline the most desirable deal structure and terms.
The last phase is Deal Management. During this phase you will meet only with highly qualified, pre-screened buyers, some of which will make offers. As the deal progresses we work closely with you and your advisors to properly structure and negotiate the deal. We then support you throughout the due diligence process and help you to successfully close the deal.
How to get started
Do you know the value of your business? Is this value where you need it to be to meet your personal financial goals? Do you know how to find the most suitable buyers and how to present your business to them?
We will assist you in answering these questions and in the process help you uncover the hidden assets of your business. We will team up with you and your professional advisors to orchestrate the entire process. During this process you focus on maintaining and growing your business, while we take care of the rest.
To learn how other business owners have benefited from this approach, contact us today so you too can be in a Position to Win!