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What are the top 5 ways to sell your business in Austin TX in the next 3 or 4 years? How should you prepare? What are the best ways to extract the most value for your business sale? Many sellers are under the impression that selling a business is easy. They have often been approached by interested buyers over the years. What if I told you that only 20% of privately-held businesses actually sell? Would that change your opinion? Surely, though, they think, my business is different. After all, you've been approached by many different buyers over the years. Understandably, you think your business is special. It IS. After all, it takes an enormous amount of work to grow a business. Most fail. You HAVE created something special. But, suppose I told you that almost EVERY business I speak with has an interested buyer before they come speak with me? How is it possible then that almost 80% of businesses never sell? The answer is easy- There is a big difference between a SERIOUS buyer and those that are merely kicking the tires. There is also a BIG difference in businesses that are prepared for sale and those that are not. Almost every business I represent has at least 100 buyers interested in it before we find that RIGHT buyer. Most importantly, there are times when there ARE numerous and very serious buyers, but the business is ill-prepared to be sold. How can you avoid that situation? If you've thought to yourself, "Hmmm...How to sell my business in Austin TX in 3 or 4 years", please keep reading. Keep good books and records Have an outside CPA do your taxes. Hire that same CPA or a reputable bookkeeper to do your books on at least a quarterly basis for three or four years. It looks much better to an outside buyer than keeping your books yourself. It is also much better than trying to prove that you make what you make with a box of old receipts. The buyer will trust outside, professional help much more than you. Limit Your Capital … [Read More...]
Greg Knox has 18 years of experience in the financial industry. In addition to his investment banking and private equity experience, he previously worked at one of the largest hedge funds in the world at Campbell & Company, and in financial institutions such as T. Rowe Price, Deutsche Bank, and Wachovia Securities. Before founding CGK, he spent 5 years as a business broker helping local Austin business owners in mergers and acquisitions at VR Mergers & Acquisitions, where he finished in the top 10 associates across their worldwide network in 2011, 2012, and 2013. Greg holds a Bachelor of Arts degree in Business Administration from Franklin & Marshall College and an MBA from Cornell University. Greg currently holds the FINRA Series 79, 63, & 55 licences.
Derik Polay has over 14 years of experience in global distressed markets and over 7 years of experience in upper management roles of small and medium-sized businesses (SMB's). Prior to joining CGK Business Sales, Mr. Polay was Managing Director for IFI Capital where he focused on distressed investments trading. Prior to IFI, he was Senior Vice President at Fulcrum Capital and APS Capital where he was instrumental in building the business and was the top producer. Prior to beginning his career in finance, Mr. Polay worked at SMB’s in leading management roles and on a consulting basis to increase productivity, quality and communication throughout various areas of manufacturing of tier one auto supply and telecommunications products. Mr. Polay is a graduate of DePaul University where he earned his Bachelor of Science in Finance.
CGK Business Sales
401 Congress Ave
Austin, TX 78701
phone: (512) 900-3770