I Don’t Need to Plan. When the Business Is Ready, a Buyer Will Find Me.
One of the hard lessons of the Recession of 2008–2011 and in 2020 is that the timing of an exit depends on a vibrant economy with active buyers, a company with strong cash flow, and an owner ready to sell. These factors seldom exist in equal measure at the same time.
We suspect that some owners believe that waiting for a future economic tide to bring back well-financed buyers involves little to no risk. However, this type of passivity is fraught with danger:
What if a qualified buyer doesn’t show up?
What happens if, when the owner is ready to sell:
the acquisition market is dormant?
the owner’s industry niche has fallen out of favor?
Does a national competitor move into the owner’s territory?
the business and/or the economy is in decline or worse?
the owner’s health and/or personal circumstances unexpectedly deteriorate?
What happens if the economic tide does not return at all or at least not for many years?
Let's make a plan
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