Jeff Hutsell sold his company, Levels of Discovery, in 2013. Four years later, in 2017, we interviewed Jeff to find out what he recalls about the process and what advice he has for others. We’re reposting the interview because we believe stories stand the test of time and are one of the best ways to learn.
Chances are you’ve answered “What do you do?” with “I am…”
“I am a doctor.”
“I am a lawyer.”
“I am a chef.”
Especially here in the USA, we get a lot of our identity from our profession. Read more
If you’re selling your business and the deal’s “Close” is just two weeks away, you’ve gotten through the bulk of it.
But, there are still two weeks left of the dealmaking process and you’re not sure what “closing the deal” actually means. Keep reading to get some practical guidance for items not necessarily addressed in the legal documents, such as “Where should I be, physically, on the day of closing?” Read more
Let’s start with a tour through some Google searches.
Note the tips given and steps advised in both of the search results. Read more
A business is for sale. Buyer and seller meet. It’s a match made in heaven. They’re ready to get a deal done. How is the buyer going to find the millions of dollars required to buy the business? Likely partially from you, the seller.
Every business owner is battered by letters or phone calls asking about the sale of his or her business. You learn to ignore them or simply not put too much stock in them. But then, there’s a letter or phone call that’s different – you can tell there’s a real buyer on the other side. Read more
Selling your business requires honesty.
You must be prepared to answer the questions that buyers have in an honest, almost clinical way.
Starting strong in your business exit process involves being honest about your motivation, your numbers, your employees, your customers and your competitors.
It’s a bit like going to the doctor to get your moles checked – annoying, frustrating, a bit anxiety inducing but you come out on the other side aware of what needs to be removed and what looks a little funky but is actually just fine.
Thanks to Kirk Kaiser for contributing this post to The DVS Group blog. He is an owner of Barrier Technologies. He founded the company in 2008 with Jaye Sieland. Barrier Technologies is a national containment contractor that specializes in preventing the spread of fire, smoke, sound, water, and infection in buildings. Here are his top tips for business owners considering selling.
Is business ownership a valuable experience?
Read the story of Robert Drumm, a DVS Group client, to find out.
Lawyer, brewer of beer, writer, dad, husband – all words used to describe Robert.
In 2013, he was ready to add one more role to that list – business owner. Read more
“I got an unsolicited offer on my business. What do I do?”
Not many things are more overwhelming or intimidating than when a business you respect approaches you asking that you consider selling your business. Whether you’re ready to sell or not, there is a rush of emotions: fear, excitement, trepidation, pride. Every fiber of your being wants this to work out for the survival of your business, for your employees, your family, your legacy.
Most of us have a desire to make an impact, do social good, make a difference, contribute. Business owners have a unique opportunity to do that in ways that ripple beyond their direct sphere of influence.
Take a look at the statistics below about small business in the US, the individuals it impacts and the community that benefits.
There are two main considerations when thinking about who would and could buy your business.
The first is your management team. The second is the size of your business.
Why are these the two main considerations?
They’re the first two aspects of the business a buyer will go to in order to evaluate.
Your management team and the size of your business matter to buyers.