16 - Know your Worth: A Conversation about Business Valuation Post COVID

In this #PoisedforExit episode we spoke with Dan Korsman, who is a CPA, JD and partner at Boulay Group in the Twin Cities. We focused our conversation on what he's been seeing among his clients who are preparing to or have sold their companies in the past few months, and what owners can do right now to strengthen the appeal of their businesses for buyers who are much pickier than before. He has noticed that buyers and sellers have become re-engaged since the pandemic hit and are putting their hats back in the ring to sell and to buy, however the rules of engagement have changed.Sellers must be aware that Earn-outs and Seller Carried Notes can be hazardous if not given the right structure and competent scrutiny by their advisory team. Many times, a seller's Goodwill is not transferable, so Dan recommends (as we have so many times on Poised for Exit) to delegate authority and do other things that will increase the transfer-ability of the business, like eliminate customer concentration, retain key employees and diversify your suppliers. Working with the experts who can advise you and structure your exit, assures you'll achieve the highest and best possible exit outcome, even during these unpredictable times!Find Dan Korsman here: https://www.boulaygroup.com/Partners/Daniel-J-KorsmanFind Julie here: https://www.poisedforexit.comConnect with Julie Keyes, Keyestrategies LLCFounder, Consultant, Author, Pod-caster and Instructor