Wie können Sie sich im Vorfeld auf den Verkauf Ihres Unternehmens vorbereiten? (2024)

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In my experience, value comes from three main buckets:- Quality of earnings and cash - Quality of processes and execution - Quality of people and succession When preparing for an exit, conducting an exit readiness assessment that explores the many sub-points of the three main buckets is critical. The second bucket is a big one and needs plenty of consideration from H&S, operations, compliance, sales engine and many more, but it comes down to being able to demonstrate you do what you said you were going to do, when you said you would do it, and the way you said you would do it. Too often I read the process document and cannot find any evidence things are actually done that way. Get in front of the ‘prickly’ issues - No surprises!

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🎯 Preparing for Company Sale.💼 Define Exit Objectives: Clearly lay out what you expect from the deal – from price to timeline.🔍 Market Analysis: Timing can greatly influence the deal's success.🏆 Ideal Buyer Profile: Envision the best-suited buyer for your company.💰 Valuation Expectations: Have a realistic company valuation range in mind.📈 Business Health Check: Ensure all financials, operations, and legalities are in pristine condition.🤝 Deal Structure Clarity: Understand your preferences regarding payment terms, transition roles, and potential earn-outs.🚀 Growth Potential: Highlight the future growth prospects.📝 Documentation: Documents, contracts, and licenses are up-to-date and organized.

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- Start as early as possible. - Engage advisors early - legal, tax, accountancy, corporate finance.- Identify and plug value gaps to maintain/drive up the multiple (and benefit from de-risking and potentially improved cashflow in the meantime). - Prepare for all legal, financial and commercial due diligence with a thorough review, then act on recommendations from your advisors. - Consider your own position - can the business function without you?- Timing is everything - market conditions as well as the business' own financial cycle.- Get the right advisors for what you plan to do, as they are not necessarily the same as those you use for what you currently do.

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While it is vital for a would be vendor to have a clear objective in terms of timescale and valuation, it is equally important to recognise that the market (Ie the potential acquirers or investors out there) will set a price and that ultimately what a vendor gets will be capped at the markets assessment of value. Obtaining a clear view of the parameters applied in the sector and the underlying drivers of recent deal values before setting vendor objectives will save a lot of wasted time, cost and heartache.

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Here are three concise points to prepare for the sale of a company:1. Clean up financials 1-2 years prior. Organized, accurate books demonstrate value in due diligence. 2. Strengthen management team pre-sale. Fill competency gaps by hiring key roles or promoting talent. Bringing in seasoned execs signals stability.3. Craft a compelling growth story. Quantify growth drivers. Update marketing materials to showcase the equity story. This maximizes value. A tight narrative is critical for PE pitches.In my experience, keeping financials orderly, building a strong team, and defining the growth narrative well in advance of a liquidity event leads to higher valuations. It shows preparation and focus when done 1 to 2 years before exiting.

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🎯 Preparing the numbers📚 Accurate Records: Ensure all financial statements are accurate, audited, and up-to-date.📈 Financial Projections: Showcase realistic growth prospects, profitability, and scalability through credible projections.💡 Value Drivers: Emphasize factors like recurring revenue, customer retention, and intellectual property.⚖️ Assets & Liabilities: Clearly list all assets, both tangible and intangible.💼 Risk Management: Identify pending litigation or outstanding debt.🧮 Profitability: Your profit margins will be a focal point. 🚫 Eliminate Red Flags: Address potential issues like tax liabilities or inconsistent cash flows.📊 Transparency: Financial challenges faced in the past and how they were overcome.

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In my expert perspective, preparing comprehensive financial statements and projections is a pivotal step in the process of selling a company. Accurate, audited, and up-to-date financial data is the bedrock of a successful sale. From my experience, I emphasize the significance of realistic and credible financial projections. These projections not only showcase your growth potential but also underline your business's profitability and scalability. Furthermore, identifying and accentuating key value drivers like recurring revenue and customer retention can greatly enhance your company's attractiveness to potential buyers.

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It is in the deal's best interest to have clean books. Confused buyers don't buy or they will penalize the value for lack of confidence in the financial presentation. A sell-side quality of earnings is a great start.

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Each party should have a good team of professionals. Every business organization has its own unique attributes, which will greatly impact the nature the the transaction. The single greatest issue is whether the sale will be an asset sale or the sale of the ownership interests in the business. The basis is important, but understanding the risks involved is greater. This type of transaction requires intense due diligence. There are also banking issues, security issues, compliance with tax and other filings by the target company, key employee retention, notice of mass layoffs, and a hundred other items. It is necessary to understand these matters in advance as the Purchase and Sale agreement will be based upon what is disclosed.

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Prepare at least 18 months in advance! In T-18 months, your advisor should let you know what items in your financials need to be "cleaned up" in accordance with best practices, and in compliance with all statutory payments and taxes. Any prior years adjustment that needs to be made, this is also the time.Then wait for an audit cycle to pass, get audited by a Big 4 & and have an audited statement that is ready to be scrutinised.That's on historical. Next is forecasts which should be as grounded as possible with realistic assumptions & drivers. An over-bullish financial projection will be self-defeating when the buyer asks for an earn-out.Lastly, don't forget about covenants or any restrictions by bankers or suppliers.

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A well-defined business model, strategy, and plan are the guiding lights in showcasing how your company delivers value. With my experience, I can attest to the paramount importance of a robust management team and a motivated workforce, as they are the backbone of operational success. Optimizing performance and productivity is a continuous journey that requires implementing best practices and efficient systems. Streamlining costs and enhancing margins is a strategic move that can significantly boost your company's attractiveness to potential buyers. In essence, optimizing operations and processes is the bridge between your company's potential and its actual value in the eyes of investors.

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Firstly, having a well-defined and documented business model, strategy, and plan is fundamental. It's the roadmap that guides every decision and action within the company. Without a solid foundation, growth and efficiency can be elusive.A robust management team is the cornerstone of any successful operation. Their experience and ability to adapt are vital.Infrastructure is the backbone of any business, and reliability is non-negotiable. A breakdown in operations due to infrastructure issues can be costly and disruptive. In conclusion, optimizing operations isn't a one-time effort; it's an ongoing commitment. To succeed, one must constantly adapt, refine, and innovate. Achieving operational excellence is a dynamic process.

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In a digital age. This is the number 1 criterion and effort on this should be started asap as every company is searchable. A non-existent company or person on the Internet raises questions.Your first target is to attract clients. Look at PR as an additional channel for business developments. You're doing this to get more business in as your first step.Then, spend some money on ads, either above the line or below the line, depending on industries. All of the above kills many birds with a few stones of marketing spend.With an increased awareness of your business (and you as the CEO/founder). You'll get leads from investors automatically as a cherry on top.

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All great points here a for thorough due diligence process. It’s important to note that you won’t have the time (and you won’t want to spend the money or emotional energy) on doing your first round of preparatory / defensive due diligence once the buyer is starting its due diligence. As a rule, you want to be ahead of the buyer - knowing what it knows before it knows it. Buyers love sellers that have invested in diligence ahead of the deal! Those sellers are better prepared, ‘cleaner,’ and can move faster. Conversely, sellers who are not well-organized, don’t have their documents together, and aren’t prepared to sell, drag out the process, cost everyone more money, and risk post-LOI purchase price adjustments.

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Vendor Due Diligence as advisors would call it. This is highly recommended and creates a lot of trust for buyers. First, it allows you to close the gaps as identified from VDD. Second, the report & subsequent remedies can be shared as part of data room documentation. This alone creates a lot of confidence to the investors.Third & lastly, this allows the buyer to expedite their process by reducing their DD scopes & fees.

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Selling a company requires careful planning and thorough due diligence. You must identify and address any potential issues to ensure a smooth sale. Conducting due diligence across financial, legal, operational, and strategic aspects is critical and involves reviewing financial records, legal documentation, functional capabilities, market trends, and strategic planning. Addressing concerns in advance can increase your company's attractiveness and maximize its value. Through rigorous assessments, you can enhance the overall value of your company and facilitate a successful sale transaction.

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In my experience, this is the bit most sellers and buyers get wrong.There is a need to see the safe transition of your company into the hands of the new owners, but most companies do not know how to integrate acquisitions, have not costed in benefits and salary comparisons into their price and there is often conflict.Sellers get tied in for too long and find themselves without the decision making authority of before and in a much slower environment (layers of people involved in what would have been a 10minute Director chat before).Buyers end up with resentful and unhappy sellers staying beyond their value.Agree a deal, look after the staff and allow the sellers to move on if they wish. You are buying their company, not them.

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You don't know what you don't know until you interact with real buyers in the deal theater. Different buyers have different motivations, look at earnings differently, and perceive risk differently. Being sale-ready means you don't have to sell if there is a value gap or less desirable deal structure.

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The initial term sheet would set the tone of the actual detailed negotiation. Also depending on due diligence, the entire terms may need to be re-negotiated.Ultimately, having a set of advisors at this juncture is critical. Even if you know A-Z, having a middleman is an important negotiation buffer.

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To maximize your business's sale value, focus on financial preparation, operational optimization, legal compliance, customer/vendor relationships, and strategic planning. Organize financial records and seek guidance from an accountant; streamline processes, reduce expenses, and improve efficiency; review permits, licenses, and registrations; maintain strong relationships with customers and vendors; and develop a clear plan for the future. Addressing these areas will position your business for a successful sale.

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Don't overlook the tax implications of selling a business. Planning ahead may allow a seller to keep more of the sales proceeds.

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