Receiving an unsolicited offer to sell your business
Many successful business owners have had the experience of receiving an unsolicited phone call from someone offering to buy their business. On occasion, these unsolicited calls lead to a successful transaction, but more often than not the discussions go sideways for a wide variety of reasons. Here are some helpful guidelines for how to proceed when you’re on the receiving end of one of these phone calls.
Management Succession Planning
When we speak of “business succession planning” for private companies, some people think only of tax and estate planning, while others may only consider a transition in the share ownership of a business. While those are each important elements of succession planning, on their own they do not cover everything that needs to be included in an effective succession plan.