FYR028: Business Valuations and Exit Strategies with Tom Lyons. Hosted by Sharon Calhoun.

In this conversation, Tom Lyons, founder of a mergers, acquisitions, and advisory firm, and Vector’s Sharon Calhoun, discuss the intricacies of business valuations, exit strategies, and how to maximize the value of a business.

They explore the importance of planning and preparation for business owners considering selling their business, the role of management in enhancing enterprise value, and common mistakes to avoid during the exit process. The discussion emphasizes the need for business owners to understand their goals and plan for retirement effectively.

Video and audio versions, along with a transcript of this conversation may be found on our blog. Vectorwealth.com/blog

Takeaways

• Business valuations are an important part of planning an exit strategy.
• Understanding enterprise value may help owners to maximize their business worth.
• Planning for an exit (and retirement) should start early, ideally years before selling.
• A strong management team can increase a business's attractiveness to buyers.
• Not preparing adequately for a sale is a common mistake
• Business owners should seek multiple valuations to better understand worth.
• Tax implications play a significant role in business sales.
• Have a clear vision of life after business ownership.

About Thomas Lyons

Tom Lyons has 40+ years of experience in business brokerage and mergers & acquisitions helping owners maximize the value of their companies. A Vietnam-era Air Force veteran, he’s also the author of Exit Strategy, a host of Minnesota Military Radio, and a passionate advocate working on veterans’ food security and family support through nonprofit initiatives like the Minnesota Veterans Pantry.

Visit www.faelon.com/thomas-lyons to learn more about Tom and connect with his various causes and interests, including the Minnesota Veterans Pantry.

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