Burr Alert: Step One- Fire Yourself!

December 18, 2012

Most often the seller of a privately held company is the same person who was the founder and who runs, owns, and brings vast personal knowledge and charisma to the business. That’s YOU.

Most often the seller of a privately held company is the same person who was the founder and who runs, owns, and brings vast personal knowledge and charisma to the business. That’s YOU. There is a good chance that YOU are the key reason why your company is great, valuable and profitable. But that also means without YOU, the company may be a high risk proposition to a buyer.

If you ever want to sell your company or bring in an investor, you’ve got to focus on these two words: Transferable Value.

Transferable Value is what a buyer owns after the transaction closes. From your point of view, the buyer is going to own a wonderful and very profitable business. From their point of view (which is the only one that counts) they are going to own a business that may be losing a critical asset –YOU. Therefore, painful as it may be, you’ve got to FIRE YOURSELF.

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TESTIMONIALS

  • “He is a great real estate lawyer. He is practical as opposed to a theorist. He has common sense and is a problem-solving real estate attorney. His demeanor is very calm – he doesn’t overreact and thinks through the issue before he starts talking about it. He is calm, steady and persistent. I have recommended him to others and they have used him too. He is a prize, the kind of attorney you want – not throw his weight around, not center of attention, calmly deal with, keep it low key and move it forward. He evaluates things and possible compromises. He just gets what you need done. I don’t know all real estate lawyers but I know a lot of them, he is as good as any of them.”

    -Chambers 2012

  • “Scott generously provided advice and assistance to our small startup. He was responsive to our needs and tolerant of adjustments we requested throughout the development of our operating agreement. We’re probably one of Scott’s smallest clients, but he offered our startup his full attention and consideration as if we were one of his largest. We’re grateful for his help.”

    -Sam Pugh

  • “Melinda's representation, performance, and knowledge for me personally and for my company is unquestionably the ‘top of the line’.  She is prompt, thorough, and responsive.  She has my total trust.”

    -J. P. Lamb, L & A Trucking Co., Inc.

  • “The coordination between each individual attorney appeared smooth. I was happy with the client service.”

    -Chambers 2012

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    - Etienne Terblanche, dataLogistics Corporation