Crown Princess / Crown Prince:
Do you have a relevant successor for your post, if you one day decide to sell your company or if your medical condition worsens? What will happen to your customers, your employees and your suppliers?
Are there any of your key employees who got the age and the drive to take over? Or is it a good idea to start searching for the right replacement elsewhere?
The value of your company is not only dependent on the turnover, profit and customers. More and more buyers are very interested in that the company has a successor who can possess the head post after the acquisition.
Thus, the crown Princess/Crown Prince pose an equally important role as yourself, when it comes to the value of your life’s work.
Therefore remember to encourage the successor and let the person know that he/she is designated to become the head of the company. Thereby, you avoid that the right person suddenly resigns and maybe even ends up working for a competitor.
We can help you focus on this important aspect.
Sharpen your company:
A majority of companies run a reasonable business which continue to make a good profit for the owner. Though, even when your company has a positive growth it is a good idea to stay focused on:
• Products – New markets/products
• Optimizing the existing business
• The employees and the customers
When business is good and the bottom line is positive, a lot of business owners forget to keep the focus on especially optimizing the existing business
However, when deciding to sell these companies often realise that it would have been advantageous if they had kept this focus ongoing. It is the investments you have made and which have resulted in an increasing turnover that the buyer will pay for, not the future implementation plans.
So a piece of advice is – “sharpen your company” all the time!
Besides Finn Laursen’s own network which is based on his many years within the transport and logistics business, Laursen Partners is connected to several international networks of M&A specialists in Europe as well as the rest of the world.
What is important to you?
– That your company continues after the acquisition?
When you have decided to sell your company, have you then considered what is important to you and the company after the acquisition?
In 2004 Peter Stubkjær Sørensen sold his company, Bonus Energy, to Siemens Wind Power. As a part of the sales agreement Peter wished that the stone in front of the company’s entry which carried the inscription “Bonus Energy” should remain at the entry even after the acquisition. For Peter it was important that everyone in the future could see which company had been the basis of the current one. Peter still likes to show the stone to visiting friends and still proudly tell people ”Look, I was a part of creating this”.
Do you feel like Peter? – We believe that most people who has fought for a company for many years and then decides to sell “the baby” wants to see the company continue developing, even if the name on the door has changed.
In addition, of course, is the desire for a proper price and reasonable terms of sale.