Cray Kaiser White Paper:

Essential Steps to Getting Your Business Ready for a Merger or Acquisition

Preparing to sell your business is a complex process that requires careful planning and strategic decision-making. From getting your financials in order to assembling the right team of advisors, every step plays a crucial role in ensuring a smooth transition.

In this video, Deanna Salo, Managing Principal at Cray Kaiser, shares key insights on what business owners need to consider before an acquisition or merger, helping them maximize value and successfully navigate the journey to their next chapter.

Key Points covered:

M&A Trends: Business owners are either passing companies to family or selling to third parties (often private equity).
Preparation Matters: Start early, get financials and processes in order.
Financial Readiness: Audits and documentation boost credibility for buyers.
Organizational Clarity: Have a structured leadership chart and clear roles.
Advisory Team: Lawyers, bankers, and wealth advisors are crucial.
Valuation Strategy: Market demand, not just retirement goals, determines business worth.
Confidentiality: Use NDAs before sharing financial info.
Letter of Intent (LOI): Clearly outline deal terms (price, structure, payment).

EFBC President’s Message: Keep Calm and Persist On

Dear EFBC Members,

I am back with another themed letter, and this time I am thinking about Persistence.

I often feel in my business that my efforts aren’t working, and we’re not making enough progress on our goals. As owners, we are all too familiar with the days where it feels like every effort is hitting a wall, with no immediate results in sight. These days can be discouraging, but they are part of the larger journey. Success isn’t measured by the wins of a single day; rather, it comes in chunks, often appearing when we least expect it.

It’s easy to become impatient when we don’t see instant results. However, persistence is what separates those who build lasting businesses from those who give up too soon. By continuing to put in the effort day after day—without immediate reward—you are laying the groundwork for those eventual “chunks” of success. It’s the accumulation of small, persistent efforts that leads to significant breakthroughs.

As leaders, we must remind ourselves that the road to success isn’t linear. The key is to stay focused on the long-term vision, even when daily progress seems minimal. The challenge is to remain committed to your goals, and trust that persistence will pay off, as it always does. In time, the small efforts compound, and the big wins start rolling in.

The EFBC provides a unique and critically important environment for persisting through the lulls where it feels like your efforts are “two steps forward, one step back”. Our forums and the broader organization are full of leaders who have “been there”, can ground our individual impatience in wisdom, and provide the encouragement needed to Persist.

I wish you all strength in your Persistence through your business and personal challenges faced every day. As the recent recipient of a few step-change chunks of progress, it ultimately can pay off.

Warm regards,

Darrin Shillair – EFBC President 2024-2025