Understanding the Intricacies of Selling a Business: Insights for Founders
Raymond Chou, Co-founder, Infront Consulting Group
23-Nov-23 12:00
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What should founders know before, during, and after selling their business?
In this episode of Enterprise Biz Bytes, we deep dive into considerations founders should make before, during, and after selling their businesses with Raymond Chou, an entrepreneur that has sold 2 of his businesses in the past. He is Co-founder of Infront Consulting Group and Business Growth Specialist with Owners Circle Asia, and is the Past President of the Entrepreneurs' Organization (EO).
We delve into optimum times for selling, how the valuation of the deal is determined, the negotiation process itself, legal preparations, and the emotional toll involved in the process. Raymond shares valuable insights from his own experiences of selling multiple businesses and also discusses the importance of knowing your buyer, considering the potential acquirers' alignments with the selling company's vision, goals, and values, and why founders should document everything during negotiations.
00:20 Recent Market Movements and Acquisitions
00:52 Recent Tech Acquisitions
02:52 Interview begins with Raymond Chou
03:25 Deciding When to Sell a Business
05:10 Reasons for Selling a Profitable Business
11:00 Emotional Aspects of Selling a Business
12:35 Navigating the M&A Process
16:00 Understanding Business Valuation in M&A
19:20 The Importance of Not Being Desperate During Negotiations
19:57 The Role of Potential Growth in Business Valuation
22:10 Assessing Potential Acquirers: Red Flags and Compatibility
29:00 The Importance of Legal Preparations in Business Sales
32:45 Protecting Employees During Business Sales
37:30 The Psychological Shift from Founder to Employee Post Acquisition
Produced by: Kishan Sivaswamy, Roshan Kanesan
Presented by: Roshan Kanesan
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Categories: Corporates, markets, economy, managing, entrepreneurs, SME
Tags: Business sale, founder’s guide, business exit, business acquisition, entrepreneur, business owner, business valuation, acquisition, m&a, merger,