Today, I'm joined by Kirk Michie, founder of Candor Advisors. For more than 30 years, Kirk has worked with entrepreneurs, closely held business owners, and high net worth families to achieve their strategic planning, liquidity, investment, and legacy objectives. In strategic and senior management roles, Michie has raised and deployed more than $1 billion of capital, been involved with evaluating more than 2,000 direct investments, and participated as principal or advisor on the purchase of 21 businesses, and the sale or recapitalization of more than 30 companies. Kirk’s areas of expertise include transaction advisory services, M&A with emphasis on founder-owned businesses, corporate and family office governance, capital raising, private equity, corporate strategy, and succession planning. His combination of investment and business experience inform his ability to help entrepreneurs navigate complex entity, family, and legacy decisions.
Selling a business is the American dream, the pot of gold at the end of the rainbow, the reward for years of hard work. Successful entrepreneurs make countless sacrifices in hopes that they would someday reap the benefits of their labor and live a new life of vacations, recreation, and prosperity.
You only exit your business once, so you should feel confident passing this milestone. A successful business exit reflects the preparation done beforehand. Failing to plan is planning to fail.
The owner of a privately held company has several alternatives on how to exit their business. In the absence of an exit strategy, events will inexorably dictate the final exit plan. A costly involuntary exit may be caused by death, disability, divorce, disagreement, or distress.
Selling Your Business with David King will help you take control of the sale process and make it positive one.