How To Sell Your Company - And The Lessons I Wish I Knew Beforehand! - Speaker: Jo Anne Gabbert

1. BFHC
Bicknell Family Holding Company
How to Sell Your Company –
And the Things
I wish I Knew Beforehand!
Presented By:
Jo Anne Gabbert
President
Bicknell Family Holding Company
March 3, 2010
Bicknell Family Holding Company
4200 West 115th Street, Suite 100
Leawood, Kansas 66211
913-647-9700
jgabbert@mariner-holdings.com
We desire to breed a culture of continual process improvement, hiring the best people, building the best processes, and measuring those processes continually. 1

2. BFHC
Bicknell Family Holding Company
• Why I Started My Own Company?
• Why I Decided to Sell?
• What You Should Know!
• #1 It’s Not About The Buyer!
• #2 Get a Great Team on Your Side!
• #3 Get on the Dance Floor!
• #4 Life after the sale!
We desire to breed a culture of continual process improvement, hiring the best people, building the best processes, and measuring those processes continually. 2

3. BFHC
Bicknell Family Holding Company
• Why I started my own company?
• Desired Work Life Balance
• Why I Decided to Sell?
• Work Life Balance
• Capital to Grow
• Desire for Employees to Grow
• The BFHC Vision
We desire to breed a culture of continual process improvement, hiring the best people, building the best processes, and measuring those processes continually. 3

4. Your Business, Your People, Your Money……………
One Family to Protect them all!
Adams-
Gabbert &
Assoc.
Bicknell
Family Mariner
Holding Co. Holdings
The Power
Group
We desire to breed a culture of continual process improvement, hiring the best people, building the best processes, and measuring those processes continually. 4

5. BFHC
Bicknell Family Holding Company
#1 It’s Not About The Buyer!
• What You Should Know About Yourself!
• Why Do You Want to Sell? Life After the Sale?
• Do You Have to Sell?
• When Do You Want to Sell – Timeframe?
• What Do You Want Your Role to Be?
• What Does your Buyer Look Like?
• How much money do you want?
We desire to breed a culture of continual process improvement, hiring the best people, building the best processes, and measuring those processes continually. 5

6. BFHC
Bicknell Family Holding Company
#2 Get A Great Team on Your Side
• Interview Your Team – “Been There Done That”
• CPA, Business Broker, Legal Counsel.
• Friends, family, others who have sold.
• Ask about their Fee’s – Fixed or Sliding?
• Don’t be afraid to negotiate.
• Don’t be too Cheap – You get what you pay for.
• Be Realistic about the Value of Your Company
• Get a real valuation in today’s market.
• What multiple does your industry command?
• What does your after tax look like?
• Do you have any ghosts in your closet?
• Help Yourself – Due Diligence is Time Consuming
• Scan pertinent documents ahead of time.
We desire to breed a culture of continual process improvement, hiring the best people, building the best processes, and measuring those processes continually. 6

7. BFHC
Bicknell Family Holding Company
#3 Get on The Dance Floor!
• Entertain Offers from Different Buyers
• IOI’s and LOI’s
• Explore the Possibilities – What does it mean?
• Prepare a list of questions
• Cash and taxes
• Earn Out clauses
• Employment Agreements
• Non-Competes
• Escrow Agreements
• Purchase Agreements
• How will you invest in your future?
We desire to breed a culture of continual process improvement, hiring the best people, building the best processes, and measuring those processes continually. 7

8. BFHC
Bicknell Family Holding Company
#4 Life After the Sale
Don’t Kid Yourself – It’s Hard!
• Emotional Roller Coaster
• Your Identity
• Your Family
• Your “People”
• Yourself
• Having A Boss- How does it feel?
• Celebrate Your Success! You Deserve It!
We desire to breed a culture of continual process improvement, hiring the best people, building the best processes, and measuring those processes continually. 8

9. Q&A
Thank you for your time.
Jo Anne Gabbert, President
Bicknell Family Holding Company
4200 W. 115th St., Suite 100
Leawood, KS 66211
913/647-9700
We desire to breed a culture of continual process improvement, hiring the best people, building the best processes, and measuring those processes continually. 9