Q: You’ve mentioned a sales ‘transaction’ vs. ‘transition’, what’s the difference?
JT says:
Transaction: This is the business side of any sale- NDA’s, LOI’s & deal terms, negotiations, non-competes, working capital, legal documentation, wealth preservation, etc. These pieces are always present.
Transition: This is the personal/emotional side of any sale. (*Ignoring these variables allows anxiety/fear to creep in and the ‘transaction’ will be jeopardized, guaranteed.) These variables consider overall emotional preparedness, desire for answers/planning, family dynamics surrounding a sale, letting go of the status and perks that accompany ownership, relinquishing control of ‘your baby’, answering the question ‘what’s next?’, and ultimately deciding who you are beyond the role/title of ‘business owner’.
Every ‘transaction’ contains a personal ‘transition’, acknowledging it is essential.
Get Answers + Get Prepared = Get Retired
Have a question for JT? Don’t worry, all questions will remain anonymous! You can email JT at [email protected].
JT Kraai
As CEO and Founder of Exit Strategies 360, JT takes extreme pride in helping business owners prepare and navigate the business sales process. As an M&A Advisor, Broker and Consultant for 20+ years, he has structured hundreds of transactions for virtually any scenario, keenly understanding the needs of both buyers and sellers.
JT indicates, “Most business owners are unaware of their options when it comes to preparing and selling their business. These options can increase cash and decrease taxes by hundreds of thousands of dollars. An educated decision is always the best.”
He then adds, “An owner’s weakest link is fear… without knowing how to proceed, they don’t. We offer the tools, process and roadmap to proceed with confidence.”
With over 25+ years of entrepreneurial ventures including five start-ups/sales, he has a solid understanding of what it takes to successfully create, expand and maximize business values. JT instinctively has the expertise and capacity to think about critical factors affecting the success of a transaction, providing an extremely valuable perspective and advantage for his clients.
According to JT, “You’ll probably do this only once in your life… let’s do it right.”
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