April 17, 2021
Rick MacBarron shares some financial planning tips from his many years of experience. Find his full interviews by searching in our index.
Bill: What's the buyer who's gonna buy your business, gonna look for in your business? Here's two great tips from Rick MacBarron.
Rick: The investment banking market is a nervous market, buyer's are very, very careful. So, again, when you present to the market, the business has got make a lot of sense. A buyer's gotta be able to look at the financials and understand it quickly, and not have to do a lot of digging around and, "can you explain this to me, please?" and, they don't want to ask a lot of those questions. Well, the other thing I see, Bill, is business owners just doing too many things, so that when a buyer comes along, the buyer's gonna say, "well, wait a minute, Mr. or Ms. Business Owner, you are the business." A company I'm working with right now in Wilmington, where we're intentionally bringing in a management team, so that when my client steps out, the buyer can look at it and say, "okay, this is a business I can buy, and it can continue running without the big guy still in the company."