Testing the Waters Is A Bad Idea

ExitReadiness®️ PODCAST

It’s not unusual for us to hear from clients or prospective clients that they want to “test the waters” in selling their business. In other words, take it to market “as is” and see what happens.
This is one of the areas, where the phrase “I don’t know what I don’t know” can result in a bad idea…
In his book, The Art of Selling Your Business, John Warrillow says, “you don’t want to put your business on the market unless you’re fully committed to seeing it through…”
A book we’d highly recommend by the way.
And that’s what we want to discuss today, Testing the Waters Is A Bad Idea.
Want to learn more? Go to: ennislp.com
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“We want you to help you build a business that is sellable and exit
successfully on your own terms and conditions.” - Pat Ennis
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About Pat:
With decades of experience in financial services, for-profit and non-profit leadership and management, along with the founding of ELP in 2010, Pat has extensive knowledge and understanding of the many challenges faced by business owners. His knowledge base, experience, and training results in a goals-based, comprehensive approach for business owners’ who are intent on building transferable business value and exiting their business responsibly and successfully.
Technical knowledge is evidenced by the professional certifications of Certified Exit Planner (CExP®), Chartered Advisor of Philanthropy (CAP®) and Certified Financial Planner (CFP®) Having pursued much training, along with years of ministry experience, Pat is also particularly proficient in meeting facilitation and the "soft skills" needed for clarifying and establishing owner goals and values, and managing a team of advisors in designing and implementing a plan.
Past employment includes Fidelity Investments, Merrill Lynch, and Sentinel Wealth Management. Additional employment information is available in Pat's LinkedIn Profile.
Pat has also served on various non-profit boards including Advisors in Philanthropy DC, Peacemaker Ministries, Montgomery County Fellowship of Christian Athletes and Razoo Foundation. He and his wife Charlotte have three children, live in Montgomery Village, MD, and are members of Covenant Life Church.
About Walter:
Walter H. Deyhle, CPA, ABV, CFF, MAFF, CExP™, CEPA is a partner and the director of GRF CPAs & Advisors Tax and Exit Planning consulting division. Mr. Deyhle addresses particularly complex issues with clients concerning investments, and estate and gift taxes with a specific concentration helping business owners transition their business.
Walter holds the CExP™ designation from the Business Enterprise Institute and the Certified Exit Planning Advisor designation from the Exit Planning Institute. He has been involved in the business valuation process for approximately 15 years utilizing his expertise for mergers and acquisitions, liquidations and reorganizations. He has been a member of the Institute of Business Appraisers since 1995 and the National Association of Certified Valuation Analysts since 1993, and is a former member of the Maryland Association of CPAs Business Valuation/Litigation Support Committee. Walter received the designation of Accredited Business Valuation (ABV) from the AICPA, has an M.S. in Taxation from American University, and a B.S. in Accounting from the University of Maryland, College Park.
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Website: Ennislp.com
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Learn more about Pat and Walter: https://ennislp.com/about