Most Popular in:
Critical Element For Success: The Advisor
By: George Spilka
Posted: March 5, 2008, from the March 2008 issue of GCI Magazine.
page 4 of 4In Conclusion
There is no one approach to a sale that is appropriate for all sellers. For an advisor to be consistently successful, he must be creative. An advisor who takes the time to understand you, your company and your needs will be able to determine your recipe for success. This advisor should be able to sustain the positions that will satisfy your personal objectives and provide you a premium-priced deal.
Selling a company may be the largest transaction an owner or CEO ever deals with, and the right advisor should add at least 10–20% to a transaction price. Apply those percentages to the expected transaction price, and then decide what characteristics are the most important to you. You should come to the conclusion that the most important characteristics in an advisor are: knowledge, experience, character, integrity and toughness. When you find these five characteristics, you will have found your advisor.
George Spilka is president of George Spilka and Associates, a national acquisition consulting firm specializing in middle market, closely held corporations. E-mail: firstname.lastname@example.org; 1-412-486-8189; Fax: 1-412-486-3697 www.georgespilka.com