As Stuart Wilde stated in his book “it is always, always about the money”. Regardless whether it is medical, communities, politics, businesses or time it is about the money.
Being about the money is not necessary a bad thing. Because if it is your money it is going to be very important and if it is somebody else’s money it isn’t going to be as important. If you don’t believe me just at some of the ex-clients of Bernie Maddoff.
That is why I never lose sight of the goal of ensuring that I get the most money I can for my client in to their pockets. Notice I didn’t say that I was working to get them the highest price for their business, because the highest price isn’t always going to be the most money that goes into an individual’s pocket and at the end of the day, which is the real goal. To be able to put the most money into one’s pocket. We are not after bragging rights here, but more for value.
There are many different moving parts that are involved in the sale of a business and if the process is not performed correctly it can cost a seller possible millions of dollars. Yes, I said millions of dollars can get lost in a sale that may instead end up going for additional taxes to Uncle Sam, your new found partner in the transaction who always wants and gets to be paid first. Sometimes it maybe, because the seller has not organized the proper team of individuals to help in the process of the selling of the business and some of the players are getting on the job training on someone else’s money. Don’t make the mistake of attempting something as crucial as selling your own business worth millions of dollars to a team of individuals who for them it maybe their first or second time in doing this kind of transaction and they are learning as they go. I have already paid the tuition for this school so that you won’t have to pay it twice. When you are dealing with possibly one of the largest material assets of your life that will have impacting results on your future don’t try to just wing it and place your fate into an erroneous position. And try to figure out the process as you go along. You will probably get the deal done, but chances are you are not used to doing these type of deals and probably don’t have the correct process or checklist to follow.