How to Make Your Company Attractive to an Outside Buyer

If you're thinking about selling your construction company and gaining the best outcomes, it's imperative that you take the necessary steps today towards making sure it's saleable. The process is far more complex than just putting up an announcement that it's for sale, especially since potential buyers will have to look into a number of things before they even consider buying your company.  In this week's Construction Genius podcast episode, I am joined by Brent Beshore, founder and CEO of Permanent Equity. We talk about transfer issues that most companies face and key things buyers are looking for in a company. We also discuss what nepotism is and how to avoid it. This is a very informative and helpful discussion especially for those who are planning on selling their companies.  Tune in today and gain amazing insights from this topic.  What's Discussed in This Episode: 0:00 Introduction 1:40 The 1 thing that makes your business attractive for a potential buyer2:22 Biggest transfer issues in companies 3:51 Delegating decision making roles to other people in the company 6:35 Allowing creative abrasion 9:11 How to systematize intuition 11:18 Key KPI's looked at during company acquisition12:14 Understanding the things you are monitoring 14:33 Core things 15:25 Defining nepotism 15:54 Overcoming the tendency to nepotism 18:22 Best structures to attract buyers into investing in companies20:43 Picking the next generation successfully25:31 Immediate steps to put yourself out to buyers28:57 What Brent's company Permanent Equity is about 32:26 How to get in touch with Permanent Equity33:21 Brent's restaurant recommendation  About the Guest:  Brent Beshore is Founder and CEO of Permanent Equity which was established in the year 2007. He specifically leads the acquisition and diligence teams of his company while supporting portfolio company operators. Aside from Permanent Equity, he also sits as one of the board of directors of Tandy Leather and is active in Love INC, a mid-Missouri-based non-profit.  Resources:  Visit Permanent Equity's website (https://www.permanentequity.com/) Books mentioned in this episode:    Checklist Manifesto (https://www.amazon.com/Checklist-Manifesto-How-Things-Right/dp/0312430000/)    Restaurant recommendation:  Booches (https://www.tripadvisor.com/Restaurant_Review-g44257-d1176434-Reviews-Booches_Billiard_Hall-Columbia_Missouri.html)    Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to the Construction Genius: A Leadership Master-Class Podcast on Apple Podcasts, Spotify, and Stitcher. Thank you for tuning in!