What’s Your Plan?

IN THE NEWS ~ MAY 15, 2015

051515-5-planBy: Sharon Elder, VP Sales

 

We have been privileged to work with many successful dealers. Along the way we have been exposed to some of the “best practices” followed by these companies. We would like to share a few with you.

 

Value Your Business to Get a Baseline

Do you have signed contracts on all of your clients? Are any contracts “blemished” with missing initials on each page or missing signatures?

 

Track new and cancelled accounts each month.

 

Knowing the true baseline value of your company enables you to be sure you have a solid plan.

 

Do You Have Enough Insurance?

If you are a partnership do you have a buy‐sell agreement?

Is your buy‐sell agreement secured with life insurance on each other including each other as the beneficiary?

 

Knowledge is Power!

Reviewing your baseline annually gives you motivation to keep growing! It’s also key to your succession. There could be a ridiculous offer you choose to accept even though you weren’t for sale. The ability to enact a solid exit strategy should unexpected health issues arise, or maybe a need for cash to grow the business!

 

We are here to help you create options. Call us and we can discuss your strategy. We have relationships with lenders and buyers to help you achieve your goals. Your call is strictly confidential!

 

Buying accounts? Let us know! Send us an email so if an opportunity comes along we know you have an interest.

 

We are all in the relationships business!

 

Have a great day!

 

Sharon Elder

VP Sales

800‐353‐3031

selder@nmccentral.com