Jerry Clark is the Founding and Managing Officer for SealedBid, a merger and acquisitions firm that was founded in 1993. Over the 25+ years since starting SealedBid, Jerry has worked with hundreds of individual owners on exit and succession strategies and successfully marketing their companies to qualified buyers. On the show, Jerry explains his company’s transaction process, how a company can exit successfully, and the steps buyers go through to purchase a company.
[2:45] Jerry discusses his company’s structured transaction process.
[6:20] You need a couple of years to set your company up for a successful exit plan. You will not get the full value if you tried to sell it within one year.
[8:05] Similar to how you get your house ready for sale, you want to put essentially a fresh coat of paint and clean out the cobwebs in your company.
[12:05] How do companies exit successfully without letting their competitors know?
[15:30] Jerry discusses the steps involved on how to execute the exit strategy.
[22:05] What do buyers need to go through when they’re looking to buy a company?
[25:10] What’s the difference between a binding and a non-binding letter of intent?
[30:35] Jerry lists some common mistakes that can derail the succession process.
[33:45] Jerry offers some key advice for owners who are interested in creating a succession plan.
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