Video Series Launched for Business Sellers

For the last six months, I’ve been working to produce “Gearing Up to Sell Your Company,” a 20-segment on-line video series. Here’s a media release announcing it:

Video Series Launched for Business Sellers

Houston, TX, May 25, 2010 — Eric R. Voth, Business Transaction Consultant, today launched “Gearing Up to Sell Your Company,” a 20-segment on-line video series for business owners thinking of selling their companies. The series, available at no cost, is geared toward educating mid-market and small business owners.

The videos feature a wide array of topics on top concerns that owners may have as they contemplate selling their companies. Tips guiding an owner through the selling process are also included. Running time for each segment is 4 to 7 minutes.

“During the next few years, tens of thousands of baby boomers will seek to liquidate their privately owned companies in what may be remembered as ‘The Great Business Sell-Off of 2010 and Beyond,'” says Voth. “What we’re seeing is a massive shift between Baby Boomers and Generation X,” he added. “But tight credit, combined with a glut of businesses for sale, make it a buyer’s market.”

Competition for buyers means business owners seeking to sell will need to know how to properly position their companies to attract the attention of larger companies and private equity firms.

“The key to a successful business sale is knowledge, plus a well-thought-out exit plan,” says Voth.

“When planning to sell, an owner’s best strategy for avoiding any pitfalls is to acquire the proper knowledge — and to exercise diligent preparation. My videos provide educational information about how to sell a company in the least amount of time, for the most money, while maintaining confidentiality throughout the entire process,” he concluded.

The series is part of Voth’s effort to be a valued consultant that provides important tools to support business owners prior to listing their companies for sale.
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Access to the “Gearing Up to Sell Your Company” video series is available at no cost by registering at http://www.ericrvoth.com/
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ABOUT ERIC R. VOTH: (http://ervoth.com/) Eric R. Voth is a consultant, serial entrepreneur, private investor, and author. He is not a Business Broker. Rather, Voth is a Business Transaction Consultant who helps company owners gear up to sell their businesses. Then he assists them with the selection of an appropriate, qualified, professional — a Business Broker, a Merger and Acquisition (M&A) Intermediary, or an Investment Banker — who will serve as their advocate during the selling process. These other professionals handle the actual sale. The scope of his consulting practice is nationwide. It encompasses all business sectors and all SIC codes.

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Media contact:
Eric R. Voth, Consultant, ERV Productions, Inc.
Phone 281-852-4707, Email: erv@xyz-ideas.com

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What’s your worry?

Chances are there are plenty of worries for you.

Finding the right buyer for your company is a huge challenge. Making your company attractive to potential buyers is important especially go generate some interest. But the key is weeding out those prospects who either aren’t serious or lack the means or know-how to be a credible buyer. In my book, How to Sell Your Privately Owned Company, A Basic Guide for Independent Business Owners, Baby Boomer’s Edition, you’ll learn the value of a professional intermediary and how to tell a real buyer from the fakes. Here’s an excerpt:

A competent intermediary will be responsible for bringing the best buyer to your door. Part of this person’s duty is to eliminate “window shoppers” and “tire kickers,” and to carefully screen the more serious contenders and bring them – to meet you halfway – to the negotiation table.

But there is still a risk and a worry. There are a lot of people out there – especially among the ranks of first-time buyers – who are basically unrealistic. They have unfounded expectations of what they can afford and where they can get the financing. Even the most credentialed, well-positioned buyers are likely to raise a few questions and a few points on your blood pressure.

As a seller, you may have concerns common to other sellers. You may worry that …

• You might not be getting a fair price;

• You might not be paid on time;

• You might not be paid at all;

• The IRS will take all your profits from the sale;

• The new owner will run your business right into the ground.

With these ideas in mind, you have every right to ask the buyer this question: “Do you have the money to make this deal happen?” Then watch the reaction. Carefully listen to what he says about these things:

• Willingness to use his own home as collateral;

• The speed and ease of getting a small business loan;

• Uncertainty or vagueness about where to get financing, or from whom;

• Past credit history and experience with banks;

• Overconfidence about “Money is not a problem.”

What are YOU most worried about?  Take out a piece of paper and write it down.

Copyright © MMIX by ERV Productions Inc. All rights reserved. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a data base or retrieval system, without prior written permission of the publisher.

Eric R. Voth has been a successful business owner and seller since the 1970s. Among other enterprises, he is currently owner of ERV Productions Inc., and author of How to Sell Your Privately Owned Company.

Treat it like the biggest sale of your career

Treat it like the biggest sale of your career because that’s exactly what it is.

Does your business have some type of advertising piece or sales slick or brochure used to entice customers to buy your product or service? A Web site? Certainly. The days of “word-of-mouth” advertising are virtually nonexistent. So are the days of word-of-mouth business sales.

For the same reasons that you possess printed and online materials to entice prospective customers or clients to do business with you, you need similar tools to entice prospective buyers to look at your company when it’s for sale.

As you’ve read earlier, the potential buyers of your business will be smart, savvy and sophisticated. They are busy, interested in a smooth transaction, and probably looking at your company as well as several others. They demand information, but don’t have time to dig for it. They will be impressed by your ability to present your company in a well-thought-out, well-documented package – offering answers to their questions about its performance, people and plans.

One recommended way to do this is to prepare a sales tool for your company. Your intermediary is experienced and skilled at putting together such a package. A Preliminary Prospectus is a document the buyer can review before receiving a copy of your Management Book – a more formal document. It needs to include the following sections:

• Sales Pitch
• Photographs/Video on CD (optional)
• Company History
• Selling Price and Terms
• Company External Environment
• Employee Information
• Asset Assessment
• Environmental Issues
• Client List (generic)
• Outstanding Contracts or Agreements
• Location(s) Description(s)
• Plans for the Future
• Supporting Financial Documentation
• Product or Service Literature

Copyright © MMIX by ERV Productions Inc. All rights reserved. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a data base or retrieval system, without prior written permission of the publisher.

Eric R. Voth has been a successful business owner and seller since the 1970s. Among other enterprises, he is currently owner of ERV Productions Inc., and author of How to Sell Your Privately Owned Company.