On January 9, 2012, Gary Kibel of Davis & Gilbert LLP gave a presentation to Affiliate Summit West 2012 entitled EXIT STRATEGIES FOR INTERACTIVE COMPANIES worth paying attention to. This presentation is on point, relevant and practical for all CEOs contemplating how and when to exit their business, nevermind the why driving it.
Gary covered:
- Seller’s Concerns
- Buyer’s Concerns
- Protecting / Exploiting Intellectual Property
- Equity Compensation
- Vendor / Client Contracts
- Internal Controls
- Privacy
Under Seller’s Concerns, Gary highlighted a solid list of parameters that have legal implications for exiting your business including:
- Why sell?
- Growth
- Career Goals
- Cash-Out
- Out of Necessity
- Estate Planning
- When to take on investors
- Corporate structure (s-corp vs. c-corp vs. LLC)
- Legal audit
- Mini due diligence exercise
- Engage advisors
- Caution with brokers
- Valuation
- Day to day practices
And this list is just the high points to address, not the specifics that will make your exit a success.
To not get overwhelmed, stressed or discouraged, here are three simple steps to get it done:
- Strategize
- focus
- simplify
- prioritize
- Plan
- Execute
This is how you tame exit planning with exit strategies to achieve your goal and your dream.
Kerri Salls
Exit Strategist
Exit Strategist
