Morgan & Westfield - Deal Talk

In this 3rd and final segment of our 3-part series with Jennifer Martin, you’ll want to have a pen or your PC or tablet handy to take some notes because this show is all about “the lists.” If you’re 3 to 12 months away from officially listing your business for sale, you’ll need to track and document everything from all the products and services you sell to the intellectual property you own and other important details. Jennifer provides her step-by-step approach to compiling these lists, then telling you how you’ll use them and who you’ll need to help you along the way. Ms. Martin consultants with clients throughout the United States through her company, Zest Business Consulting.

According to our guest on this edition of “Deal Talk,” more often than not, small business owners attempt to sell their companies before they are actually ready to sell. Regardless of the reason, if you haven’t taken the necessary steps to prepare, the buyer has the upper hand, and they’ll likely want to pay you substantially less than you’re asking. Lack of preparation results in low valuations, but even if you absolutely must sell your business right away, there may be some things you can do to help you profit as much as possible. Listen as Lance Metcalf, CPA, business attorney and owner of the Metcalf Adair Law Firm, shares his wisdom on this subject from a financial and legal perspective.

Health and fitness is just as important to our businesses as it is to our bodies, so why do so many business owners overestimate the financial health of their organizations? Is it possible that the numbers in your ledger may be hiding fiscal concerns that, if not addressed, could have a long-term negative impact on your company’s value? It may be time for a comprehensive assessment of your financials, but how do you start the process, and what should you look for?  Gabrielle Luoma, Chartered Global Management Accountant, CPA and owner of the firm GMLCPA LLC in Tucson, Arizona, will let us know.

Even in the best of times, running your business can be a challenge. With so many things to remember, it’s easy to forget certain responsibilities that could end up costing you a lot of money when you sell your company. And if a prospective buyer takes you to court over issues you fail to disclose or inconsistencies in your financials, the results could be catastrophic and even prevent any chance of selling your business in the future. Find out about the most common legal mistakes that business owners make and how you can avoid them as we welcome business attorney and managing partner of The Ticktin Law Group Mr. Jamie Sasson on this edition of “Deal Talk.”

Private equity may be seen by some as the evil step-child in the investment banking world, but the truth is, more and more businesses are turning to private equity as a means to help them expand their operations into other markets and grow their companies. The effect that this can have on the overall value of a company can be exponential. Today, it’s becoming commonplace for small businesses with as little as $1 million in annual revenue to benefit from the capital injection from aggressive PE firms. So what are investors most interested in, and what kinds of businesses are they attracted to? Find out when Jeff Allen visits with Phil Brennan, managing partner at Go Capital, on this edition of “Deal Talk.”

We all want to get the most for our companies in an acquisition, whether in an asset sale or a stock sale. The idea of getting premium value for our business is what many of us have in mind. But what exactly is “premium” value, and how do we achieve it? A good place to start is with a professional business valuation to see where things currently stand. But then what? Our guest on this segment has some thoughts that may help you work toward elevating your company’s value. Join us as we welcome corporate financial consultant Angela Sadang, director in the Financial Advisory Services Group at Marks Paneth LLP in New York.

Billions of dollars are lost by companies every year as a result of fraud, and while fraud takes many forms, it often goes undetected until it is too late (when the dollars lost cannot be recovered). For some businesses, fraud can even pose a risk to their solvency and ongoing existence. Business owners can stop fraud in its early stages or even prevent it from occurring with the help of our special guest and fellow business owner Bob Bates, CFO and certified forensic accountant at HP Accounting Services. Mr. Bates shares a real-world case study as well as some tips to help you know where to look for fraud in your business and how to stop it.

There are many benefits to owning a franchise business. One that you should be taking advantage of is the knowledge and experience provided by your Area Representative if your franchisor has them as part of the executive team. The Area Rep may be one of your most valuable resources in terms of helping you to build a truly successful franchise. Ruben Trevino, Area Representative with Always Best Care Senior Services in New Jersey, joins Jeff Allen to discuss what he brings to the franchisees he works with on a daily basis to help them overcome challenges and build the best franchise business possible.

Setting yourself up for success in the months and years before selling your business is important, but what do you need to do to ensure your success after your company is in the hands of someone else? The process, can begin as soon as you make the commitment to sell. Then, that’s when the work to execute your succession plan begins, but you don’t have to go it alone. Jenifer Martin, founder of Zest Business Consulting returns for the 2nd part of her 3 part series to help you take the necessary steps in the process of selling your company in the next 2 to 5 years.

Owners of small companies that do business internationally will be interested in this edition of “Deal Talk.” You’ll learn about some of the unique issues and considerations that global businesses may face in preparation for an M&A transaction.  In our changing world, we need to have a clear understanding of the industry and the economic forces at play across the entire globe.  Our guest, Walter Blijleven, CPA and co-owner of Curacao Financial Group, will explain how appraising global businesses has become more complex in recent times and what you can do to help simplify the process while at the same time building value in your company.

American businesses are very attractive to cross-border and overseas investors looking to gain access to the highly coveted American market. Many of these investors are willing to pay top dollar; however, with so many companies in so many industries to choose from, foreign buyers can afford to be selective. So how do you attract the attention of these wealthy overseas buyers? Where are they located, and what are they looking for in an American company? Our guest shares his deep knowledge of the increased interest in American businesses from abroad. Join Jeff Allen as he speaks with Mr. Howard Johnson, managing director of Veracap M&A International Inc.

You should always consult a professional appraiser for a business valuation when you are selling your company, but that’s not the only time you should have your business appraised, according to Michael Gould, director of Litigation Support and Valuation Services at RotenbergMeril. Mr. Gould discusses some of the other common reasons you should seek the services of a valuation consultant, some of which you may have never considered. Failure to do so could mean reduced value for your business and leaving a lot of your hard-earned money on the table. This is another don’t-miss “Deal Talk” episode!

If you’ve been leasing your building or your business is growing and you’re thinking about buying commercial property for the first time, our guest on this edition of “Deal Talk” tells you why you shouldn’t do it without the help of a real estate attorney. From structural problems to environmental issues to zoning laws, our guest expert, Chris Cali, an attorney specializing in real estate and M&A at Latimer LeVay Fyock in Chicago, talks about all the concerns that come with buying commercial property. Just wait until you hear his story about the salon and spa! It will make you think twice before buying real estate for your company without first talking to an attorney who specializes in real estate.

Having a good understanding of what is included in the valuation of your company may help you to better understand what you need to focus on when preparing your business for sale, whether you intend to do that now or in 25 years’ time.  The timing of the sale and even the appraisal of your business could affect its value.  It’s important to know about the inside and outside factors that can negatively impact your business’ value so that you can take the right steps to build it back up.  Join us for an informative conversation with Mr. Randy Lewis, CFA and Managing Director at LP Valuation in Los Angeles.

You can’t get to where you want to go if you don’t know where you are.  Have you taken a close look at your numbers? If you need to build the value of your company, where do you start?  Our guest on this segment of “Deal Talk” tells us why a professional valuation (or appraisal) is critical to understanding your company’s current situation.  He also discusses the key value drivers for businesses looking to improve more than just “top line” growth. Mr. Marcus Sullivan is a Certified Valuation Analyst and Founder of Sullivan Consulting who offers a fresh perspective gleaned from working with respected global clients.

Business appraisals and financial audits are necessary, but sometimes the numbers just don’t add up. If you suspect that everything isn’t being properly accounted for, you may have to call upon the services of a forensic accountant. But what is a forensic accountant? We have one on with us today in this edition of “Deal Talk.” Darrell Dorrell is a CPA and principal at Financial Forensics who has delivered more than 100 addresses on financial topics to many national bodies, including the FBI, the Department of Justice and the Bankruptcy Bar Association. He’ll explain how a forensic accountant can potentially uncover hidden value for your company.

It requires a different mind-set to be the owner of multiple businesses. This is especially true for serial entrepreneurs who build businesses for one reason:  to sell them. Serial entrepreneurs can teach the rest of us a lot about what it takes to build a company from scratch, develop it, make it profitable and sell it at a premium value. Gregg Sharp, CEO of A2M Entertainment in San Diego, is one such serial entrepreneur who will reveal the keys to his success growing multiple businesses for sale. Plus, he’ll share what he’s learned along the way that may help other “serial entrepreneurs-to-be” avoid the pitfalls that could prevent them from reaching their business goals.

Do you know what your customers really think about you and your company, or are you just happy that the orders keep coming in? Truth is, your best customer could be this close to leaving you and doing business with your competition. So how do you keep your best customers truly happy while working on attracting new ones? Our guest on this segment of “Deal Talk” started his career knocking on doors before leading a successful national sales team. He joins us to share important tips that apply to both B2C and B2B organizations. His is Craig Klein, and he is president and CEO of Sales Nexus.

You’re ready to sell your business. You’ve shown steady revenue growth with expanding market share. You’ve cut costs, you are practically debt-free, and you even have an interested buyer, only to discover that you haven’t filed your annual business report. What about your other legal obligations? Deborah Sweeney, owner and CEO of MyCorporation.com, tells us why it’s critical to stay on top of your documentation and corporate filings, or run the risk of substantial financial losses that could put a major dent in your company’s value and prevent the sale of your business.

The best way to understand what it’s like to sell a business is to learn from someone who has experienced the process.  Ed Antonowicz, former co-owner along with his wife of a successful ComForcare home healthcare franchise in Prescott, Arizona, discusses the process of selling a business and what it’s like to separate yourself from “your baby.” In addition, he shares his philosophy on the importance of building customer relationships and the requirements for building up a business so that you can sell it at a substantial profit while leaving a legacy in the process.