Mentor Monday: 7×7 Alum Shares Advice on Selling A Business

A few weeks ago Bernstein Global Wealth Management sponsored a 7×7 Mentoring Salon on entrepreneurship. With host Jeyran Ghara, a financial advisor at Bernstein, and lead mentors Stephanie Torosian, Senior Investment Planning Analyst and Joanne Wilson, Gotham Gal blogger and WEF co-founder and angel investor, we had plenty of hindsight and foresight to help female entrepreneurs take the next step in building a successful startup.

In addition to a glorious view of Central Park, Bernstein also provided excellent perspective on what to think about when you get to the other side….when you are ready to sell your company.  Stephanie Torosian shared the following topline points on what entrepreneurs should consider as they approach the sale of their business.


Selling a business is very much an emotional experience as well as the single largest financial transaction for many entrepreneurs.  As owners, you have to make the transition from depending on your business earnings to relying on sale proceeds which is a very different mind-set and requires planning.  With that said, here are a few points to consider:


• Business sales are complicated….it is your baby after all!  Working with a professional can help separate the exit from the emotion. From matching term sheets to your financial and personal goals to making sure the timing is right, an outside advisor is there to navigate the tradeoffs.


• Determine whether you are selling the business for enough to support your lifestyle needs.  A “magic sale number” in your head can be a trap in today’s volatile markets; the real issue is whether the proceeds will meet your core needs and more.


• How can I increase value to my beneficiaries and reduce my estate taxes?  Learn how you can create a family and philanthropic legacy, augmented by grantor trusts and the power of discounted assets.


Check out Bernstein’s full white paper here, which provides a more in-depth view on the points raised above and the financial considerations in selling a business.

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