Where Are You Losing Equity? It's a common misconception that cutting costs and tightening budgets is the best way to prepare for a sale. However, as Paul Curtiss explains, this approach can actually have the opposite effect. By investing in hiring executives and upgrading equipment and technology, you not only improve your business's performance now but also set yourself up for greater success in the future. Learn how these strategic add backs can help you retain equity and secure a higher sale price.

As business owners, it's easy to get caught up in the day-to-day operations and forget about the bigger picture of succession planning. However, by participating in discussions like these, you can gain invaluable advice from experts like Paul Curtiss on how to prepare for the future sale of your business. From optimizing your operations to maximizing your financial returns and structuring a deal that benefits you as the owner, this series promises to be a game-changer for anyone looking to secure their financial future.

When it comes time to sell or transition a business, unclear roles and undefined goals can be particularly detrimental. Potential buyers and successors look not only at financials but also at the systems and leadership in place. Without clear structure and measurable goals, the value of the business may suffer.

The Small Business Administration's recent notice regarding potential loan fee waivers for small manufacturers is a promising development for the industrial sector. By considering a one-year waiver incentive for loans of $950,000 or less, the Trump administration aims to support the growth and sustainability of small businesses in this industry. This initiative could potentially save business owners thousands of dollars in loan fees, making it easier for them to access the capital needed to expand and thrive.

Success in business is often attributed to offering a superior product or service compared to competitors. However, the same principle applies when it comes to succession planning within a company. In order to maximize the value of your business and ensure a smooth transition, it is crucial to be more attractive than other potential buyers or successors.

The Risks and Rewards of Selling to Private Equity Private equity can be a lucrative option for business owners looking to sell their company. However, it's important to carefully consider the risks and rewards involved in such a transaction. Join us as we discuss the potential pitfalls and benefits of selling your business to a PE firm, and how to navigate this complex process successfully.

The text highlights a concerning statistic that 70% of business owners looking to sell have no plan in place for succession. This lack of planning can have significant implications on the overall transfer of wealth within the family. It serves as a reminder of the importance of proper succession planning in ensuring a smooth transition of business ownership.

Books & The Biz provides a real-world example of how even seemingly simple business sales can become complex when family dynamics are involved. This episode underscores the need for thorough planning and communication among family members to avoid potential conflicts and ensure a successful transfer of business ownership.

Succession is described as a process that requires careful consideration and planning well in advance of the actual transfer of business. By addressing key factors that are often overlooked, such as family dynamics and communication, business owners can better prepare themselves for the challenges that may arise during the succession process.

The episode emphasizes the importance of involving family members in discussions about succession planning

Will Sutherland, CEO and President of Three Pillars Wealth Management, emphasizes the importance of planning for business owners who have sold their company for a significant amount. He believes that proper planning is essential to ensure that as much of the windfall stays with the owner as possible.