All businesses at some point either sell or close their doors. Although the “sell” may occur in different forms such as a transition, merger, or acquisition, one thing is acutely constant: The core values of the owner or owner’s group is the foundational key to a successful “sale”. In other words, You Need to have Core Values Alignment!
The number one reason sellers regret selling their business is that their core values and the buyer’s core values are not aligned. You hear it all the time, promises that never fulfill: “Yes, we plan to retain all of your employees.” “No, we are not going to lay-off, anyone.” “No, we are not moving your operations.” “Yes, your customers will be well treated by our sales team.” “We love what you have done with your business and we intend to continue operating it as an independent entity.” The landscape is littered with train wrecks, bad feelings, and horrible outcomes!
Simply stated, the closer your core values are to those of the buyer, the better you are going to feel after the transaction. If not… well you may walk away with a lot of heartburn. After all is said and done, it’s not simply just about the money. In fact, how your values built into your company transition forward after the sale becomes most paramount.
Therefore, the time to define your core values is now… even before any thought of selling.
Here is another huge finding: Being proactive, confident, honest, knowledgeable, and holding on to your core values through the exit process will Dramatically Increase the Value and Probability of your Company’s Sale/Exit!
Are you unsure of your core values, and how they relate to or define your company? Let us help you nail them down! We have done it for hundreds of businesses resulting in an extremely satisfying sale or transition… for both parties!!
In fact, your values, when articulated and integrated into your business model and plans, dramatically increase your company’s value and success today! So let’s get at least those values nailed down today! Contact us, we guarantee you will be glad you did!