Dr. Dan Nathanson
Anderson Graduate School of Business UCLA
How can I exit gracefully from my business to insure its ongoing sucess?
|Now a lot of you and if you're really out and selling your business and you've been doing it for years. You've developed relationships with your employees, your partners, your suppliers, your customers and you want to exit gracefully and nicely and you want especially people working in the business they may even be family members that don't want to assume control so you're selling it to someone else. You want to ensure that the place at lease for a period of time continues and works forwards. So understand that it's not always in the highest bid. I see it all the time. Companies, private equity investors come in with really high bids and the owners back off the sellers back off and they say; yeah but what's going to happen with my people? What's going to happen with the business? Where's it going to go? Okay so know who you're dealing with when the buying is there and understand that you might have to be flexible in the pricing of your business if you want to ensure the ongoing success of the business and jobs for your employees.|