Jun 4, 2023
What is it like to sell your same business twice? As CEO of a pharmacy software company, Tim Tannert led the business through two successful transactions. Key to their success was having a differentiated niche and strong market position. This enabled them to construct a sale process where they could select a partner that was the best fit. Tim talks about being open and honest with yourself. Evaluate your team and business to find the resources you need to take the company to the next level. Ultimately, Tim’s company selected a partner that had the size, scale, and infrastructure to achieve their goals.
Today Tim works with companies to develop success strategies as an EOS Implementer. This episode focuses on a key decision step for owners: determining who should own your business after you. Enjoy this Succession Stories episode about evaluating your business to find the right buyers with Tim Tannert.
Listen in to learn more about:
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Getting a second bite at the apple through follow-on exit to strategic buyer
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Developing market niche and recurring revenue
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Creating a bid process for an exit
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Finding right fit for potential buyers
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Lessons learned from the diligence process
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For more info on this topic, pick up a copy of Laurie Barkman’s new book, “The Business Transition Handbook”
If you enjoy Succession Stories, please leave a 5-star rating and review on Apple Podcasts!
Show links:
- https://www.eosworldwide.com/tim-tannert
- Complete a Value Builder Business Assessment at MyTransitionScore.com
- Order your copy of “The Business Transition Handbook,” an Amazon best-seller https://amzn.to/3Hqj2eo
- Decide When to Sell eBook: https://bit.ly/endgame-ebook
- Follow the Succession Stories YouTube Channel
- Connect with Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
- Subscribe to The Business Transition Newsletter. Text Transition to +1-646-495-9867
About Succession Stories Podcast
Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. Hosted by Laurie Barkman, author of "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options."
Get your copy at: www.theBusinessTransitionHandbook.com
Start your business transition plan by visiting: https://thebusinesstransitionsherpa.com
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SHOW SPONSOR: STONY HILL ADVISORS
Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.
Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.