What’s Next Really Matters

Author and former Inc Magazine editor at large Bo Burlingham says there is more than money at stake during a business owner’s exit.

He delivered a luncheon address at the M&A Source spring conference in Dallas Tuesday. He revisited research done for his book Finish Big. The book explores the exits of owners ranging from the good to the bad, from the joyful to the ugly.

His interviews with owners across the country identified phases:

  • Exploratory, where you think about what might happen
  • Strategic, where you plan things out
  • Execution, where you do what you planned
  • Transition, where things are implemented

Although you can work through the phases at a different pace, owners who pay attention to what is next and who they really are, tend to have more fulfilling and successful exits.

Often overlooked is the reality that after the closing, everything will be different. He relayed how one owner came to realize that he should have been more forthcoming to his staff about the sale and his intentions.

When they learned of it, they felt betrayed. Despite making out well in the sale, this realization haunted the owner even years after the transaction.

What our clients are saying...

“I retained Business Transition Strategies to handle the sale of my company, which manufactures machined parts for a diversity of sectors. The entire process went smoothly and professionally. The BTS team kept me fully informed at every step. They worked hard and were effective in bringing the deal home. Their data room system, with a lot of information loaded in advance, saved time during due diligence. I would recommend John Howe, director, and Ken Schaefer, deputy director and the entire BTS team to any private company considering selling.”

- Scott MacDiarmid

MacDiarmid Machine Corporation