A few ideas and insights from our NY/NJ Regional Partners. We hope you find this information timely, relevant, thought provoking and sometimes fun.

This month's feature articles:


Happy after you exit your business? Why or why not? Happy
 
We recently had the opportunity to listen to Bo Burlingham speak on his recent book Finish Big at our B2B CFO® annual conference.  He had very interesting insights into what makes a successful transition and why many sellers are bitter and/or unhappy with the process or outcome of their business transition.  As we have worked with dozens of owner exits over our careers, this may be the most enlightening conversation you will hear about the possibility for an enjoyable exit process.  Typically we think of the exited owner as having a lot of liquid wealth or reaching the pinnacle of success.  In Bo's experience, half are relatively happy, but the other half are bitter.  Let's explore what Bo highlighted as the reasons:
 
Good Exit vs Bad Exit:
  • Are you treated fairly and rewarded for your contribution?
  • Do you have a sense of accomplishment?
  • Are you at peace with those you journeyed with?
  • Do you have a new purpose outside the business?
  • Is the company doing better without you (your legacy)?
Factors determining the kind of exit you will have (hint - cash is not one!):
  • You know who you are, what you want, and why.
  • You build a business that can be sold when and to whom you want to sell it - for an amount you consider fair.
  • You give yourself enough time to prepare - in years.
  • You choose a successor giving yourself enough time for him/her to fail.
  • You seek advice from people who have been through it themselves.
  • You do right by the people who have taken the journey with you.
  • You analyze why buyers want to own your business and figure out what they will do with it.
  • You find the next thing and become fully engaged in it. Nearly one third engage in another entrepreneurial adventure.
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If you find this interesting, we recommend that your purchase the book Finish Big.  At B2B CFO®, we have the talent, tools, experience, and processes to help you or your clients exit, but we only seek to be the trusted advisors without a 'horse in the race'.  If you would like to have a conversation about how you can exit your business successfully and happily give us a call.

How Do I Attract a High Multiple for My Company? - The Business FactorsMultiple
Need some ideas to increase increase the value of your company prior to sale? In this article,  B2B CFO ®   Joe Worth highlights steps you can take.



Success Storysuccess

At a $25MM firm that provides outsourced facilities maintenance services to major retail chains, our Partner found there was a huge backlogs of un-invoiced jobs. Meeting with all departments, he helped them as they mapped their current processes, identified bottlenecks, instituted measurements and reports, and invested in process and training improvements.

This resulted in the generation of $750,000 in cash in six months. The company was able to pay down their entire line of credit and customer service was improved at the same time.

NY/NJ Partners Welcome Andrea Citranglo to the TeamAndreaC

The NY/NJ  B2B CFO ®   Partners are pleased to welcome Middletown, NJ based Partner Andrea Citranglo to the regional team. Andrea has 20 years of experience in financial and operational management in small to medium size private companies, including 5 years in public accounting.

To read Citranglo's full bio,   click here

Quote of the Month quote

"We find comfort among those who agree with us - growth among those who don't."
~Frank A. Clark
NY/NJ Partnerspartners

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Our WHY
In everything we do, we believe in improving the lives of business owners. We believe each owner is unique and important to our society. The way we improve their lives is by understanding their goals and by removing any barriers that get in their way. And we happen to have unique talent, tools and processes.
About B2B CFO ® and B2B Exit ®
Founded in 1987, B2B CFO ® is the largest CFO and Business Transition services company in the nation. The firm provides services to privately held businesses. B2B CFO ® is headquartered in Phoenix, Arizona, and has a nationwide presence with more than 225 CFO and Business Transition Professionals in 46 states across the USA. These Professionals specialize in providing senior level executive services to growing companies who need assistance in finding solutions to their business challenges. The firm's motto is: First Direction, then Velocity ®. Each B2B CFO ® Professional is a senior level executive averaging 25-30 years of experience. For more information please visit www.B2BCFO.com and www.B2BExit.com.