On this episode of Selling the Dream, business coaches Doug Howard and Kathi Fleck are joined by Jim Laird, owner of Laird Valuations. Jim is a business valuation consultant who specializes in tax-related valuations, medical practice assessments and sale related valuations—spanning industries including manufacturing, truck transportation, healthcare, restaurants and retail, and construction contractors.

They discuss early planning and preparation for selling a business, emphasizing the importance of accounting, marketing, and HR in business valuation and sale.

Learn more about Laird Valuations here.

Learn more about preparing your business for sale here.

On this episode of Selling the Dream, business coaches Doug Howard and Kathi Fleck discuss the business sales process from the buyer's perspective. Succession planning is crucial for family businesses to ensure a smooth transition from founder to the next generation. This requires the successor to gain a well-rounded understanding of the business through experience in various departments and financial literacy. While negotiation is key, even between family members, involving independent advisors helps guarantee a fair deal for both sides and sets the stage for the business's continued success.

On this episode of Selling the Dream, business coaches Doug Howard and Kathi Fleck discuss what happens during the transition period of a business sale, specifically when there are unexpected negative changes in the business.

The key takeaways are:

• The business seller should be aware that there can be unexpected negative changes during the transition period, such as a key employee quitting or a big client leaving.
• The seller should have a plan to mitigate these risks, such as by having a strong company culture and employee retention programs.
• The seller should also be prepared to negotiate with the buyer if there are negative changes, but the buyer should also be understanding that these things can happen and willing to work with the seller to find a solution.
• It is important for the seller to continue to run the business as usual during the transition period, even if they are eager to hand things over to the buyer.

Learn more: www.growthteams.com