Make Your Dream Team a Success TeamTM

Making the Most of Exceptional Talent

So you have your team of experts assembled to help in the sale of your business.  Now how do you use them to achieve the highest level of success possible?

In previous posts I’ve covered some of the potholes owners hit during a business sale or transitionI’ve also listed the advisors you should have on your team.

As good of a business owner and CEO you may be, sometimes it truly takes a village of experts to help you maximize the value of your company and help you prepare it for sale. In this post, we talk about the beginning process of using your advisors to do a 360 Review of your business.

Who’s on first, what’s on second?

You may question some members of the Dream Team as to whether you need them or you can financially afford them  Let’s take, for example, the Wealth Manager.  You already may have a stock broker or advisor.  Why  do you need a Wealth Advisor?  A stock advisor may only be focused on where to invest the proceeds from the business sale not your total wealth.  So be wary if a  stock advisor tell you that he or she can do both.  Using a wealth manager will ensure a focus on your total wealth and how it can be used to meet all your goals of which retirement is only one part.  They will also look at your total wealth portfolio, not just your stock portfolio.

Besides you, your CFO is the most important person on your team.  He has the expertise to understand your needs, communicate with the other team members, when and how to use them and help you increase the value of the business.  Don’t have a CFO?  See my posting “Throw that $ Away to Save the ¢: Why You Can’t Afford Not to Have a CFO”.

How to begin using your business team.

Always determine the process with which you will work with your team and assign your number two person—typically your CFO.  Rely on your CFO to drive the data collection, financials and strategies from the whole team so that you can maintain a strategic position during the evaluation. Here’s 7 steps you need to do:

  1. Assess Current Value. Use your team to determine your company’s current value.  Do you need a full appraisal?  Of course not.  Your M&A advisors can give you a ball park estimate.
  2. Devise a Wealth Plan. Once you have an estimated current company value, use your Wealth Advisor to estimate how much cash you need to retire the way you want to retire.
  3. Create Valuation. Now estimate what the company value needs to be to determine to generate the cash you need when you transition from the business.  The difference is the gap you need to bridge.
  4. Building Plan to Bridge Gap. Now working with your CFO, determine how to bridge the gap.
  5. Identify KPIs. With your CFO determine the key performance indicators (KPIs) you need to track.
  6. Process review. How often you need to review progress and KPIs?  Some may be weekly.  Others may be monthly or even quarterly. What dashboard reports do you want to receive on a regularly basis to ensure forward progress?
  7. Consistent Use of Data Sources. Determine where the information comes from to calculate the KPIs.  Not all KPIs are money-based.  Units of production, labor productivity and others may not be expressed in dollars or cents but they all impact financial results.

Success TeamTM Line-up

You won’t need your team all the time, but you will need to know when and how to use them at different times in the process.  Work with your CFO to determine who needs to be used when.  For example, your Tax Advisor needs to know the plan to advise how to minimize taxes.  You don’t want the beneficiary to be the government.  Each stage of the process will require different skill sets and oftentimes, you will rely on your CFO and internal employees to supply the data and move the process forward To be effective,  the team needs to know the plan so communication is critical.  Remember to rely on the many team members for their specific expertise and to help you keep you on track.

How do you use this team once they are identified?

See the next in the series It’s My Party – And I’m the Best Host Ever! If you’re not the ringmaster of this circus then someone else will be!

My Role in Helping Business Owners

As your B2B CFO® everything I do is for you, the business owner to be more successful and efficient.  You are important to society and the growth of our economy.  I have unique processes and tools to help eliminate the barriers to your success.  Let’s talk about how I can be the assistant coach of your dream team.

Other blog posts in this series are:

I Bring Financial Knowledge, Provide Financial Training and GenerateFinancial Stability

I am fluent in “financialspeak” and can translate your monthly numbers into strategies for future success.  I take companies to a higher level of success


Email :  Phone: 909-732-4917

 Other blog series:



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