January 23, 2020 Edition
7 Key Questions to Consider About Selling Or Transitioning The Company to Your Kids

Excerpt from my book 'Moving Forward'

The dream of many entrepreneurs and often times their spouse is to save the business for the kids. A few important questions first, before contemplating selling to your kids.

Answer All These Questions

1 Do they want to take over? Have you actually sat down with your children and asked?

2 Are they old enough right now to have the conversation?

3 Are they involved in the business today, either full or part time? Or even interested?

4 Are they qualified to run the business today? Working in the business is very different from working on the business. Are they even qualified to do the job they have now in the company?

5 Could they be qualified over time and with the right support? Can you afford to wait.

6 Can they afford to buy the business? The fastest way to kill a business is to give it to someone. You've heard the joke. How do you make a $1,000,000 business? Give your kid a $3,000,000 company. Sad but true.

7 What about the children who elect not to be involved? What do they get?

There are so many more questions you will need to ask them and yourself.

If you haven't had these conversations yet, you may be a little surprised and disturbed by the answers. On the other hand, this may free you up to make better decisions for the future of your family and the business.

If this email post resonates with you, there are 2 easy choices below. Pick one right now!

Cheers, Eric Gilboord

Option 1. Contact me to schedule a call. eric@warrenbdc.com

Option 2. Download my book, then schedule a call.

Increase Your Odds for Success Right Now
Download my book for FREE, instantly with no information required.
Written specifically for Boomer Aged Business Owners. One of the biggest events they face today, is to sell or transition out of their company.

Moving Forward is about selling or transitioning faster and for more; while dealing with the emotional and practical struggles Owners will face during the process.

At the same time it serves to help the Owners Family, Friends, Buyers and Trusted Advisers to better understand these challenges from the Sellers' perspective.

Makes a great gift for your Business Owner clients and prospects.
In this interview Eric:

  1. Says Naysayers uninformed opinions are based upon their own life experiences.
  2. Points out that the most important sale a business owner makes (the sale of the business) is the one they are least prepared for.
  3. Explains how he works with business owners to find unrealised potential.
  4. States that the demand for businesses with predictable cash flow is strong.
  5. Talks about some of the options business owners have when planning to exit.
  6. Notes that after cashing out many entrepreneurs are choosing to buy another business rather than investing in financial markets.
  7. And more
Many businesses have a best before date to transition. It may be best to sell before:

  1. Your industry changes too much to keep up with.
  2. You're too old to have a choice about transition anymore.
  3. Your competitors decide to attack and drive your value down.
  4. Your competitors make the move to sell first which can negatively affect your value. READ MORE
From the WarrenBDC Ebook Series
A 10 minute read f or seasoned business Owners thinking about selling their company. Includes timelines and key activities. Great for Trusted Advisors to forward to share with their business Owner Clients.
Interview for Business Owners

Eric Gilboord shows you how to get three times the return, three times quicker. Don't leave money on the table.​

Eric talks about the current state of transitioning businesses. Who's buying and who's selling. What Sellers need to know.
Have An Audience Of Seasoned Business Owners That Need a Good Talking To?

​Here's what I can do for you and them.

I will answer the 10 most important questions about selling or transitioning their company and inspire them to start the transition process. Remember 80% don't currently have an exit plan, 100% need one.