Dive into this week's thought-provoking episode of the Maximize Business Value Podcast with Tom Bronson as he explores Chapter 27: "Evaluate Your Minority Status."
Tom brings a unique perspective to the forefront by addressing the potential challenges associated with minority status, including female-owned, Native American-owned, minority-owned, and veteran-owned businesses. The key insight lies in recognizing that if a business operates under minority status and the potential buyer lacks the same status, it may lead to a loss of business post-transaction, ultimately affecting the business's overall value.
The critical action here is to document agreements tied to minority status meticulously. By doing so, business owners can minimize the risks associated with the transition. Tom emphasizes that while the impact may vary based on concentration risk, a clear understanding from the outset is paramount.
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Mastery Partners
Elevating Businesses to Achieve The Business Owner’s Dream Exit
The unfortunate reality is that for every business that comes on the market (for whatever reason), only 17% of them achieve a successful exit. You read that right. 83% of attempted business transitions never reach the closing table. Mastery Partners is on a mission to change that. We ELEVATE businesses to achieve maximum value and reach that dream exit.
Our objectives are simple - understand where the business is today, identify opportunities for dramatic improvement, and offer solutions to enhance the business, making it more marketable and valuable. And that all starts with understanding the business owner’s definition of his or her dream exit.
Mastery has developed a 4-Step Process to help business owners achieve their dreams.
STEP 1: Transition Readiness Assessment
STEP 2: Roadmap for Value Acceleration
STEP 3: Relentless Execution
STEP 4: Decision: Now that desired results are achieved, the business is ready for the next step in the journey!
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