Nearly every business owner wants to know how much their company is worth on the open market. But there is no one-size-fits-all answer to that question. The valuation will depend on the personal, family, financial, and business objectives of the business owner as well as the exit option implemented to meet those goals. In this episode Gower Idrees, CEO of RareBrain outlines the eight exit channels—four internal, four external—available to business owners. Whether you have already implemented an exit plan or are just getting started, Idrees offers perspective on how the business exit option you select may impact the valuation of your company.
Over the years nearly every industry has seen a rise in specialty services and the financial sector has followed that trend. Today many successful companies seek the input of business brokers, merger and acquisition advisers, investment bankers, and exit planners. But it can be difficult for a business owner to differentiate their roles in a business sale. To clear the confusion, in this episode Gower Idrees, CEO of RareBrain explains the spaces in which each of these specialists operate and also provides their general compensation structure.
Three out of four business owners admit they are too busy running their company to devise and implement an exit plan. That can be a dangerous gamble with your financial future. 80% of small businesses listed for sale in the United States do not sell and only 30% of family businesses successfully transition to the next generation. An exit plan is more than simply circling a retirement date on the calendar; it is creating a strategic plan that helps a business owner successfully exit their company. In this episode Gower Idrees, CEO of RareBrain, explains the elements that comprise the most effective exit plans, how exit plans differ from estate planning, and the top benefits of establishing an exit plan.