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.

To read more about this topic, please see full article below Download PDF


Legal Disclaimer:
No representation is made that the quality of services to be performed is greater than the quality of legal services performed by other lawyers.
send article

TESTIMONIALS

  • “His professionalism, responsiveness, efficiency and depth of knowledge have impressed me."

    -Chambers 2012

  • “They are outstanding and get high marks for their commercial awareness, staffing, training and pro-activity."

    -Chambers 2012

  • “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

  • “For the past four years, my Atlantic Capital Bank deal team has engaged the legal services of Lindsey Arnold to close several large and complex bank loan transactions.  To name a few, these deals include a $10million line of credit to a linen service company, a $15million Term Loan to a prominent, market leading textile manufacturer (and a subsequent recapitalization of this loan arrangement), a $12million Term Loan facility for a major grocery store chain, a $12million Construction to Mini Perm Facility and a separate $10million for a large national beverage distribution family of businesses.  Not only was Lindsey’s service of the utmost professionalism and very quick responsiveness, but also she treated the bank’s client’s with a very high level of courteousness and integrity.  Our clients are the lifeblood of our business and it is important that our legal partners handle our relationships get off to a good start.  In addition, rarely do loans sit on a shelf…there are always changes along the way and Lindsey has been very quick to respond to our needs (driven by our clients’ needs) in terms of amendments and deal restructurings.  In addition to solid deal execution…Lindsey is a terrific resource when it comes to early stage legal guidance as we as bankers think through competitive and creative deal structures.  Lindsey has been great and we hope to steer more deals in her direction as we grow the institution.”

    -Sandy Bowen, Atlantic Capital Bank

  • "...He’s terrific to work with – a very good negotiator. He is outstanding and not aggressive, which is one of the things I like about him. He is calm, factual, extremely sharp, and observant. He doesn’t miss a beat. On a very complex negotiation, we made a lot of headway due to him."

    -Chambers 2012