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Jim McManaman started his accounting firm in a small town of 3,000, so when he decided to sell, he had to figure out how to do it without tipping off his employees.
McManaman is well known in town, so he relied on secret, out-of-town meetings with buyers and Sunday sessions in his board room to keep things quiet. Jim was able sell his business for 1.25 times revenue, most of which was paid at closing. He was able to uphold his reputation in the community and exit his business in a town where gossip travels fast.
In this episode, you’ll learn:
McManaman was able to get a premium valuation for his accounting firm, in part because it ran without him. Find out how reliant your company is on you by completing your Value Builder questionnaire.