Andy Hamer’s Post

"I'll be ready to sell whenever the time is right" Not so fast... How the sale process impacts you is related to how well you've prepared for it. Some owners find the process depressing and painful. Others find it quick and painless. A "good exit" typically consists of the following 4 elements: 1) Owners felt they were treated fairly and appropriately compensated for the work and risk they had put into the business. 2) The owner had a sense of accomplishment. 3) The owner was at peace with what happened to the people who had helped build their business. 4) They had discovered a new sense of purpose outside of their business. Credit to Bo Burlingham, author of the book "Finish Big." Are you a bank CEO, President, CFO or Board Member with questions you have regarding the consideration of selling? DM me here on LinkedIn to ask confidentially and I will get back with you.

"I'll be ready to sell whenever the time is right" Not so fast... How the sale process impacts you is related to how well you've prepared for it. Some owners find the process depressing and painful. Others find it quick and painless. A "good exit" typically consists of the following 4 elements: 1) Owners felt they were treated fairly and appropriately compensated for the work and risk they had put into the business. 2) The owner had a sense of accomplishment. 3) The owner was at peace with what happened to the people who had helped build their business. 4) They had discovered a new sense of purpose outside of their business. Credit to Bo Burlingham, author of the book "Finish Big." Build a bank you could own forever or sell tomorrow. ===== I'm not a lawyer, an accountant, or an investment banker. I'm just a banker who has been in your shoes. You can catch my posts on LinkedIn at 7:10am and 4:10pm daily (weekends & holidays too!) My newsletter is weekly and free - check out my LinkedIn profile to subscribe.

8 characteristics that led to a "good exit" provided by owners who sold: 1) The owner was clear about who they were. 2) They learned to look at the business through the eyes o the buyer. 3) They gave themselves plenty of time to prepare for their departure (years not months) 4) They found it important to leave their company in good hands 5) They found the right kind of help from professionals and business owners who had experience 6) They had come to terms with their responsibilities to their employees and investors 7) They understood who they were selling to and what their motivation was 8) They had a good vision of what they were going to do after the sale Credit to Bo Burlingham author of the book "Finish Big" If you enjoyed this, please like it 👍 share the post with your network ♻️ and follow me for daily content at 7:10am (CT) and 4:10pm (CT).

Is now a bad time? 8 characteristics that led to a "good exit" provided by owners who sold: 1) The owner was clear about who they were. 2) They learned to look at the business through the eyes o the buyer. 3) They gave themselves plenty of time to prepare for their departure (years not months) 4) They found it important to leave their company in good hands 5) They found the right kind of help from professionals and business owners who had experience 6) They had come to terms with their responsibilities to their employees and investors 7) They understood who they were selling to and what their motivation was 8) They had a good vision of what they were going to do after the sale Credit to Bo Burlingham author of the book "Finish Big" ===== I'm not a lawyer, an accountant, or an investment banker. I'm just a banker who has been in your shoes. You can catch my posts on LinkedIn at 7:10am and 4:10pm daily (weekends & holidays too!) My newsletter is weekly and free - check out my LinkedIn profile to subscribe.

Supercharge Your Buying Power 🚀 Unleash Your Broker's Credit Line !! To know more swipe through this carousel. Follow Ishaa Malushte for more such content. REPOST if you find it helpful 🔁 #investing #finance #personalfinance #stockmarket #linkedin

Do NOT sell your home to a cash investor, *ESPECIALLY if it needs a lot of work, and *especially if you haven't spoken to a real estate professional you know and trust! Investors are out to make money on your asset, and if you sell off market, you are almost surely leaving your own money on the table. Watch this video to find out more. Share with people you think may need to hear this!

7 Top Regrets of Selling Business Owners From "Finish Big" by Bo Burlingham 1) Delaying Exit Planning: Many wished they had planned their exit sooner for both personal and business readiness. 2) Selling Under Pressure: Regret often follows a sale made due to external pressures rather than strategic choice. 3) Overlooking Legacy, Culture and People: A common regret is not ensuring the buyer values the culture, legacy, and people. 4) Neglecting Emotional Preparedness: Many owners regret not preparing for the sense of loss and identity shift. 5) Falling Short of Financial Expectations: Unrealistic valuations and inadequate negotiations can lead to disappointment. 6) Insufficient Buyer Vetting: Failing to vet see the new owners are financially capable and a good fit for values. 7) Underestimating the Emotional Toll: The emotional journey of selling your life's work is often underestimated. These common regrets provide valuable insight for those who have not yet sold. Today, in my free weekly newsletter "The Savvy Banker" we're going to go a little deeper on the topic of "Successful Community Bank Sale: Do you know your Golden Window of Opportunity?" Click here to subscribe: https://lnkd.in/gS8ZsFyc Are you a bank CEO, President, CFO or Board Member with questions you have regarding the consideration of selling? DM me here on LinkedIn to ask confidentially and I will get back with you.

Seller beware. Are you trying to raise money? Sell your business? Proceed with caution. Do the same amount of due diligence on your potential investor or acquirer as those people would do for your business. Why? Everyone is not who they appear to be!! Surely that’s not a surprise. But you can be especially vulnerable to deceit when you need to raise money or really want to sell your business. There are folks out there that know that and will take advantage of it. I speak from experience. Learn from my mistake. Nearly 30 years ago I was tired of the issues our business created in my life. I wanted out. We met a small group that officed in the nicest offices in Dallas that wanted our business. They dressed impeccably. They drove expensive cars. They even had strong references. The problem was that all of that was a front. An illusion to draw anxious sellers in to their trap. What did they do? Once we thought we had a deal they constantly tweaked the terms. Once they had control, they stopped paying vendors and drained all the cash flow out of the business. With 3 months they bankrupted the company, defaulted on my note and told people we were the ones doing the things we were doing. It was awful and the most stressful period in my business career. But I learned so much. Please please please don’t make my mistakes. Slow down. Be diligent. Have strong counsel. Be as prepared as you can be. Remember many people not only don’t have your best interest at heart. There are bad actors waiting to take advantage as well. #becareful #duediligence #bankruptcy #deceit #mistakeshappen

7 Top Regrets of Selling Business Owners From "Finish Big" by Bo Burlingham 1) Delaying Exit Planning: Many wished they had planned their exit sooner for both personal and business readiness. 2) Selling Under Pressure: Regret often follows a sale made due to external pressures rather than strategic choice. 3) Overlooking Legacy, Culture and People: A common regret is not ensuring the buyer values the culture, legacy, and people. 4) Neglecting Emotional Preparedness: Many owners regret not preparing for the sense of loss and identity shift. 5) Falling Short of Financial Expectations: Unrealistic valuations and inadequate negotiations can lead to disappointment. 6) Insufficient Buyer Vetting: Failing to vet see the new owners are financially capable and a good fit for values. 7) Underestimating the Emotional Toll: The emotional journey of selling your life's work is often underestimated. These common regrets provide valuable insight for those who have not yet sold. Today, in my free weekly newsletter "The Savvy Banker" we're going to go a little deeper on the topic of "Best Time to Sell the Bank? Absolutely Steer Clear of these 6 Words." Click here to subscribe: https://lnkd.in/gS8ZsFyc If you enjoyed this, please like it 👍 share the post with your network ♻️ and follow me for daily content at 7:10am (CT) and 4:10pm (CT).

"What is the biggest mistake financial advisors make when choosing a new broker dealer?"         Making a transition decision based on money 🚩    With the large deals being offered today, it’s hard to ignore the money.    I saw it happen recently. An advisor found a firm that PERFECTLY aligned with him culturally along with his future goals. He was all but committed.     Late in the due diligence process, another firm, that he was less impressed by, offered him an additional $200,000 over 10 years.    Suddenly he was ignoring all the red flags we uncovered.    It took a little coaching and some honest conversations, but he began to realize the extra $20K per year over 10 years wasn’t enough to commit to a less than perfect fit.     **Think about it like this: Even the biggest independent check might be only one years worth of your revenue (MAX) but you’re now locked into a 10 year marriage!!    The right fit and ability to properly grow your business will enable you to far exceed the upfront incentive you’re offered—which usually results in greater long-term enterprise value.    If it’s a perfect fit AND the money is good, that’s ideal, but if not, don't step over dollars to pick up pennies. #bridgemarkstrategies