June 29

The Descent Is The Real Climb with Jeff Getty


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You spent 20 or 30 years building your company then all of sudden, your phone rings and you’ve got an offer. Now you are wondering, what do I do? 

In today’s episode, Jeff Getty defines transitions and transactions and how to decide what is best for your company’s future. Listen in as he discusses how to complete either transitions or transactions and how to equip yourself to get the most out of it. 

Jeff is a Merger and Acquisitions Attorney and is the Managing Director of Key’s Family Wealth Consulting Team. He is a nationally recognized author and speaker with over 25 years of experience designing and implementing sophisticated, and innovative asset protection, tax reduction, and estate planning strategies. Jeff has more than $8 billion in transactional experience in private offerings of equity and debt, mergers and acquisitions, reorganizations, and spin-offs for closely-held and family-owned businesses. 

Key takeaways

  1. Transitions to me, are generally talking about internal transfers. So it’s either selling or gifting to children or transitioning management ownership and control to management or employee. Transactions are sales to third parties. (4:28)
  2. About 50% of most deals in the privately held space, begin with an unsolicited approach or unsolicited offer around a business. And if you’re a successful business owner, you see this every day. (11:04)
  3. I would always tell someone unless they’re sure they’re ready to do something tomorrow, to go to work and do a particular strategy. You should look at your transition or transactional auctions over a series of time. (32:13)
  4. First and foremost, you should always know what your business is worth inside the marketplace. You never want to be caught flat-footed when someone comes across and lobs you the proverbial fat offer, a stupid offer, and you don’t really know in context, is it really that good? (33:20)

If you are a business owner and considering transitioning or transacting contact Jeff at 412-303-4521 or via LinkedIn https://www.linkedin.com/in/jtgetty/ to get expert advice. 

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