Solidify your business’ future and take a few minutes to consider these critical questions.
When do I want to exit?
What is my timeline?
What are my exit options? What are the pros and cons of each?
If I sell, what is my target price? What is my company worth today?
What role, if any, would I be willing to take on after the sale?
Do I have the right management team in place?
1 to 3 years:
Have I identified possible successors within my company?
Do my possible successors have the right skills? What training can I provide?
Is my business positioned to maximize its value? Headwinds? Tailwinds?
How am I performing versus my peers?
Have we integrated the best systems and processes for the business?
Do I have a transparent employee engagement plan to attract and retain talent?
3 to 10 years:
What is my current business value? How can I increase it over time?
Have I identified and engaged the advisors I want and need? For example, accountant, lawyer, family, banks, landlord, etc.
Does anyone in my family, or those closely involved with the business, have a desire to take over? If so, do they have the right skills? Will they work alone or divide the responsibilities with someone else?
If I sell, am I comfortable with having an ongoing interest after the sale, if necessary?
About CDFconnectTM from Wells Fargo Commercial Distribution FinanceTM
Whether it’s sharing best practices, implementing process improvements, engaging with industry and other experts or delivering insights and training — CDFconnect is here to help make it easier to increase revenue, improve margins, gain market presence, and reach broader audiences. All CDF customers, including dealers, OEMs, and distributors have access to the program. Visit cdf.wf.com/cdfcconnect to access self-guided tutorials including coordinating a smooth transition or sale of your business, managing your cash flow and inventory or contact us at email@example.com to talk with an expert.
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