A 'Knock on the Door' can lead to the sale of a company...or not!
An unanticipated expression of interest can lead to the sale of a company. This interest may not lead anywhere however if the company is not ready for sale. What is the solution? Always operate a company as if it is for sale. Know what drives value.Engage an M&A professional to determine market value.Upgrade financials .Track Key Performance Indicators (KPI’s).Create a high-performance management team.Minimize dependencies (customers, vendors, products, people).Clean and organize your facility:Clean out old inventory and unneeded ‘stuff’.Maintain the bathrooms (the spouse will not be enthusiastic about ‘latrines’) If run your company as if it is for sale and someone 'knocks on the door', you will be ready. “Come on in, let’s chat. Would you like a tour?”