Paul Olsen, Denver is the owner of Company Broker Group, a team of business professionals that specialize in buying and selling companies, acquisitions, mergers, and smooth transfers from former business owner to new business owner. They know that owners cannot run their businesses forever; and to ensure a smooth transition there must be a deal brokered that appeals to both parties and their business interests. That is why succession and exit planning are such important strategies for selling a business. Below, Paul Olsen of Denver shares some wisdom from his many years of experience in helping people transition their businesses to new owners.
Studies have shown that in the past, businesses often drop in their potential for long-term success after transitioning to a new owner. This can happen for many reasons; one of the most common being the business owners’ expectations of the succeeding owner. Many business owners often opt for having a member of their family inherit their businesses. The problem that arises the most in this scenario is when that member of the family had not been properly informed of this inheritance ahead of time, leading to an unexpected and rocky transition to new ownership. Even worse, sometimes the beneficiary has no interest at all in taking over the business; and they are suddenly stuck with running a company that they didn’t even want in the first place.
Planning for the succession of your business, according to Paul Olsen Denver and the CBG, involves proper timing and business valuation. Few Denver businesses survive in their first five years of operation; and if you have it that benchmark, it is time to start preparing for how that business will succeed far into the future. As stated on CBG’s website, “Business Planning or Planning to Sell is like exercise, everyone knows they should sell it, but very few business owners really take the time to properly plan and maximize the sell value. It has been long-known that less than 15% of all business owners have ANY form of plan on what to do with their business when the day comes that they no longer want to run it. And one thing is for certain, and that is, that you cannot run your business forever!”
CBG (Company Broker Group) is located at 999 18th St. Suite 3000, Denver, CO 80202. Their phone number is 303-382-1900 and their fax number is 815-301-3483.
Their website is http://sellmybusinesscolorado.com/videos.asp