How to Honor Your Business’ Mission -- Even as You Sell It

Every business owner has non-financial reasons for operating a great business. Often times this is rooted in the culture and mission, because it propels business forward and ensures a robust enterprise.

Security is also important: financial security for family members can be the driving force behind creating a business in the first place. Whether your family is related by blood -- or is made up of loyal managers and employees at your business -- you want the security that your company provides to endure long past its sale.

Security could look like many things: it could mean a promotion for a loyal employee after you’ve left the business. It could mean continued employment for a family member, as well. And in some cases, it can mean that family members can continue to weigh in on the direction of the business.

For others, the only concern might be that your business remains a secure and fair place to work.

Whatever of these non-financial goals is the most important to you; it’s possible to find a buyer who is willing to fulfill them. It just takes time, patience and negotiation with the right kind of buyer.

Of course, the more interested buyers at the table, the more negotiating power you will have -- so the smartest decision you could make would be to hire an M&A advisor that understands your financial and non-financial goals and will create a competitive market to have your goals met.

There’s more at stake for a business owner than the net proceeds of a transaction. There’s usually a deep sense of responsibility to employees and to the mission of the company. It takes experience and a process-oriented approach to complete a transaction with a buyer that will entertain all your requests -- you should work with an M&A advisor who understands your financial and non-financial goals.