Do You Have The Best Team In Place?

“Do we have the cast of characters in the right seats on the bus in order to bring us the next 2-3 years of growth” - Dan Doran, Founder of Value Scout and Quantive.

Hear how Dan’s unique skills as an entrepreneur, valuation expert and M&A advisor help bridge the gap between buyers and sellers.

Dan talks about how owners can overcome their blind spots which might cause them to perceive specific business risk differently than what a potential buyer might see.  He shares the importance of having an outsider provide their insight/perspective on the business.  For some owners, one way to do this is to consider setting up a non-voting advisory board to bring additional experience, resources and expertise to the table.

Additionally, many owners know they need to grow business value to fund their lifestyle or retirement but aren’t sure how to formulate an actionable plan.  It was this disconnect that led Dan to create Value Scout, a platform that helps entrepreneurs and their advisors more deliberately create business value leading up to an eventual exit.  Specifically, Value Scout helps owners create a measurable plan to correlates each tactical initiative back to the overall enterprise value.  

Lastly, he shares his 2 action items for owners:

1. “Do you have the best team in place?” He suggests owners surround themselves with the best team possible. The importance of human capital can’t be overstated. It’s what really drives the value of the business and owners should look both at their in house and outside teams.  
2. Understand the rules of the game – you can’t fight the market. Owners need to take the time to educate themselves on the M&A process well in advance of a sale. You don’t want to be the least knowledgeable person room at the time of a transaction.