July 2024 Newsletter
Selling vs. Closing Your Business - The Importance of an Exit Strategy and Preparation On-Going
- Too often, business owners face a tough decision about their company due to health issues, age, a major recession, a major shift in their industry or a lack of growth. At this point, you may think the obstacles are too challenging to overcome and could be considering closing your business. However, by closing your business, you are walking away from real value.
- Should you close your business or attempt to sell it? Selling your business is the answer almost 100% of the time, but it takes expertise, focus and some effort by you and an M&A advisor like CEO Advisor, Inc. Having an Exit Strategy is so important, coupled with the proper preparation for a sale that is critical to building value.
- The majority of business owners have not prepared for a sale of their company. A serious illness or business downturn can be a real shock to a business owner. As a result, when it comes time to retire or move on to the next challenge, or deal with a major illness, too many business owners think that they have no choice but to close down their company.
- For example, we had a client that initially stated when he retires he would simply close the business or give it to his employees. I assured him that by working together with me and CEO Advisor, Inc., we would enable him to sell his business for millions of dollars. After a serious bout with cancer soon after starting our engagement, this business owner worked with CEO Advisor, Inc. to prepare for and successfully sell his company for millions of dollars in all cash transaction and he is grateful to this day.
- We advise our clients on all aspects of preparing for a sale and selling their businesses. One key piece of advice is to “sell on the way up”, meaning when A) Sales are on the way up, B) Profits are on the way up, and C) Your health is stable or on the way up and you are actively participating in managing the business.
- Another key piece of advice is to speak with an M&A advisor like CEO Advisor, Inc. to better understand, 1) Your options to sell, 2) Your valuation range, and 3) What changes, improvements and preparation that needs to be performed prior to putting your company on the market.
- Successfully planning and defining an Exit Strategy is critical for any business, no matter when you plan to sell or what the size of the company. Planning an Exit Strategy and preparation for a sale are usually overlooked but may be the most important aspect of business planning. By having a plan and then something happens to you, your family and your company will be in a much better position to realize its value. Without this exit planning there is no way of telling if you will be able to sell, or if you will be able to receive any value out of what you may have spent decades building.
- Exit planning is a process that maps out how and when the business will be sold and how to realize the highest value. This is a process that should start when the CEO/Owner is healthy, and no less than one year before the owner begins a sale process. Selling the business as opposed to closing your business is, almost always the best option, but you will need the proper expertise to help you.
- CEO Advisor, Inc. has helped many CEOs and business owners prepare for and sell their businesses over the past 20 years with great success. This is one of the most important decisions you will make in your life. Contact Mark Hartsell, MBA, President of CEO Advisor, Inc. at (949) 629-2520, by mobile phone at (714) 697-3370 by email at MHartsell@CEOAdvisor.com or visit us at www.CEOAdvisor.com for more information.
CEO Advisor, Inc. Advises MobileNet Services on Growth and Exit Strategy
MobileNet Services is an Innovator and Industry Leader in all Wireless Technologies
CEO Advisor, Inc., a growth and strategy, growth capital and mergers and acquisitions advisory firm, is advising MobileNet Services, Inc., a leading wireless engineering professional services company for the mobile communications industry, on maximizing growth, profitability and an exit strategy.
Since 2002, MobileNet Services has worked closely with Cellular Carriers, wireless original equipment manufacturers (OEMs), Neutral Host providers, Integrators, and Enterprise clients to provide solutions that meet their customers’ needs. MobileNet’s full range of services include turn-key solutions, from design through deployment of In-Building Distributed Antenna Systems (DAS), First Responder Public Safety Communications systems and Private 5G networks, as well as benchmarking, commissioning and optimization of all commercially available wireless technologies. pre-construction consulting, testing, design and complete system installation.
Richard Grant, CEO of MobileNet Services states, “Working with CEO Advisor, Inc. is a valuable and necessary step in optimizing growth, profitability and for properly preparing our company to maximizing its value for a future transaction. Mark Hartsell, President of CEO Advisor, has been instrumental in identifying areas for increased efficiency and improved financial performance, process improvement, and revenue growth.”
CEO Advisor, Inc. is advising MobileNet on specific aspects of growth, key performance indicators (KPIs)/metrics, increasing profitability, and preparation for a future exit. For twenty years, CEO Advisor, Inc. has successfully advised CEOs and management teams on strategy, accelerated growth, funding, mergers and acquisitions services and an optimal exit by providing the added expertise and management support to achieve its clients’ goals.
Mark Hartsell, President of CEO Advisor, Inc., states, “Richard and his team at MobileNet Services provide very complex and valuable services. Their depth of expertise, high quality, and value is tremendous for mid-size and enterprise size companies, as well as, the cellular carriers, large mobile network operators and OEMs. We are very excited to work with this highly innovative company.”
About CEO Advisor, Inc.
CEO Advisor, Inc. provides growth advisory, growth capital and mergers and acquisition advisory services to effectively and affordably meet the goals of small to mid-size companies in the software, technology, digital media, healthcare, engineering and professional services and other industries, as well as, Private Equity firms for bolt-on acquisitions and to accelerate the growth of their portfolio companies. CEO Advisor's mission is to advise CEOs, presidents, business owners and principal executives with the needed experience, expertise and focus, coupled with hands-on advice to grow their businesses to the next level and realize their life’s dream through a successful exit.
Contact Mark Hartsell, MBA, President of CEO Advisor, Inc. for a no cost initial consultation at (949) 629-2520, by mobile phone at (714) 697-3370, by email at MHartsell@CEOAdvisor.com or visit us at www.CEOAdvisor.com for more information.
CEO Advisor, Inc., a growth and strategy, growth capital and mergers and acquisitions advisory firm, is advising MobileNet Services, Inc., a leading wireless engineering professional services company for the mobile communications industry, on maximizing growth, profitability and an exit strategy.
Since 2002, MobileNet Services has worked closely with Cellular Carriers, wireless original equipment manufacturers (OEMs), Neutral Host providers, Integrators, and Enterprise clients to provide solutions that meet their customers’ needs. MobileNet’s full range of services include turn-key solutions, from design through deployment of In-Building Distributed Antenna Systems (DAS), First Responder Public Safety Communications systems and Private 5G networks, as well as benchmarking, commissioning and optimization of all commercially available wireless technologies. pre-construction consulting, testing, design and complete system installation.
Richard Grant, CEO of MobileNet Services states, “Working with CEO Advisor, Inc. is a valuable and necessary step in optimizing growth, profitability and for properly preparing our company to maximizing its value for a future transaction. Mark Hartsell, President of CEO Advisor, has been instrumental in identifying areas for increased efficiency and improved financial performance, process improvement, and revenue growth.”
CEO Advisor, Inc. is advising MobileNet on specific aspects of growth, key performance indicators (KPIs)/metrics, increasing profitability, and preparation for a future exit. For twenty years, CEO Advisor, Inc. has successfully advised CEOs and management teams on strategy, accelerated growth, funding, mergers and acquisitions services and an optimal exit by providing the added expertise and management support to achieve its clients’ goals.
Mark Hartsell, President of CEO Advisor, Inc., states, “Richard and his team at MobileNet Services provide very complex and valuable services. Their depth of expertise, high quality, and value is tremendous for mid-size and enterprise size companies, as well as, the cellular carriers, large mobile network operators and OEMs. We are very excited to work with this highly innovative company.”
About CEO Advisor, Inc.
CEO Advisor, Inc. provides growth advisory, growth capital and mergers and acquisition advisory services to effectively and affordably meet the goals of small to mid-size companies in the software, technology, digital media, healthcare, engineering and professional services and other industries, as well as, Private Equity firms for bolt-on acquisitions and to accelerate the growth of their portfolio companies. CEO Advisor's mission is to advise CEOs, presidents, business owners and principal executives with the needed experience, expertise and focus, coupled with hands-on advice to grow their businesses to the next level and realize their life’s dream through a successful exit.
Contact Mark Hartsell, MBA, President of CEO Advisor, Inc. for a no cost initial consultation at (949) 629-2520, by mobile phone at (714) 697-3370, by email at MHartsell@CEOAdvisor.com or visit us at www.CEOAdvisor.com for more information.
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