Ep. 11 - Give Yourself The Gift of Time Before Selling Your Business
The Ripcord Moment

Ep. 11 - Give Yourself The Gift of Time Before Selling Your Business

Ep. 11 - Give Yourself The Gift of Time Before Selling Your Business

The Ripcord Moment

“Get your ducks in a row—NOW.” – Janice Miller, Managing Partner at Miller Haga Law Group, LLP, and author of Coopertition®.

In this episode, Janice offers her legal expertise on the world of exit planning and the common issues she sees owners deal with when going through an exit, specifically in today’s post-COVID environment.

Janice discusses how to best prepare for an upcoming exit, including the importance of knowing what you want to accomplish from the sale and assembling a team of professionals to help you achieve those goals early on.

She shares the significance of having a buy-sell agreement in place, comparing it to a pre-nuptial agreement in a marriage. She shares with us why she believes everyone should have one, detailing how they can strengthen a business relationship and set clear expectations and parameters for leaving a partnership.

Janice talks about the why behind her book, Coopertition®, including how it is the concept that “competitors can work cooperatively together to benefit all: benefit their clients, benefit themselves, benefit their competitors.” She says she lives and breathes this concept, which inspired her to trademark the phrase and write the book.

Lastly, she shares two action items for owners:

1. Give yourself the gift of time, and don’t expect to do a transaction now if you have not spent time getting everything in a row first.

2. Be true to yourself and have clear goals that you want to accomplish from the transaction. Don’t stray from these goals unless necessary.

Watch the video episode by clicking the thumbnail below or visit Morton's YouTube Channel.

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Disclosure: Information presented herein is for discussion and illustrative purposes only. The views and opinions expressed by the speakers are as of the date of the recording and are subject to change. These views are not intended as a recommendation to buy or sell any securities, and should not be relied on as financial, tax or legal advice. You should consult with your attorney, finance professional or accountant before implementing any transactions and/or strategies concerning your finances.