As a business owner, you have to consider the role you want to play in the business in the immediate future following a sale and how that could impact the sale.
That’s why we try to meet with owners months or even years before they “pull the plug” and go to market.
Sometimes growth strategies by acquirers can represent an opportunity for an owner who is young enough and excited enough to stay involved in a company post transaction.
Some buyers might be looking at you as a platform business. Under that scenario, they might want you to stay on for a longer period of time as they provide capital to help you take the company to the next level.
In other situations, your company may be an add-on acquisition and your enterprise is going to be integrated into a larger operation. In those situations, the buyer may not need you long-term but could ask you to help a new management team get settled.
It is a good idea to talk with the advisor as far in advance as possible so you are prepared for what might happen. We want you to go into the transition with your eyes open and your goals clear. That way your deal team has the greatest opportunity to deliver options that best fit your goals.