B2B CFO® founder Jerry Mills tells the following story of a conversation that he had with a business owner at the annual SABEW (Society of American Business Editors and Writers) conference:
“One of the most interesting conversations I had was with Ania (Kubicki, President of Angles Public Relations) and an owner of a large newspaper that is based on the West Coast. Henry Dubroff was very glad to meet me and gave much praise about The Exit Strategy Handbook. He told a most interesting story from which I was able to learn a lot about the mental process of selling a business from a business owner’s perspective.
“He met with an Investment Banker a couple of years ago and ended up walking away from the possible sale of his company. There were issues with the value of his company, the agenda of the Investment Banker, and a lot of the other normal issues that a business owner has with initial meetings with Investment Bankers.
“He was excited to tell me that his company just signed a contract to sell his company with an Investment Banker. He fully credited The Exit Strategy Handbook, which he obtained from one of our partners, for his success in getting his company ready for a transaction.
“His story was very interesting. He thoroughly read the book and then implemented almost all of the advice given therein. He was extremely complimentary of our company and our book. I asked him if I could have a quote to tell others about the importance of the information he learned from us. He stated:
Founder and Editor, Pacific Coast Business Times
“I told him that I did not know what the “mental gap” meant.
“Henry said that it was difficult to hear an Investment Banker tell him that his company was not worth the amount that he felt it should be. He also did not understand why they wanted him to do so many things to get ready for a transaction. The entire process was confusing and frustrating.
“According to Henry, The Exit Strategy Handbook helped him to mentally understand what the Investment Banker was saying and requesting. Our book helped him to mentally understand both the “what” and the “why” of the requests made upon him and his company.
“I then asked him, “Did you finally realize that you were ultimately being asked to do things to prepare yourself for a buyer?” He said, “Yes,” with a lot of enthusiasm.”
Please contact me at (206) 498-5006 or firstname.lastname@example.org to start a conversation on how I can help you or a business owner you know understand the exit process and close the Mental Gap™, and prepare your/their business for an exit.