Managing Director, Tennessee Valley Group
Jim Cumbee is one of the most trusted and sought-after business transition advisors in Tennessee. Over the past thirty-five years he has managed transactions from Main Street to Wall Street. A successful entrepreneur in his own right, Jim once bought a business out of bankruptcy, turned it around, and sold it to a publicly traded company. With an MBA from Harvard Business School, Jim mentors business owners on exit strategies and transition planning with astute and comprehensive counsel. He has held executive positions with Trammell Crow Company, Disney Development Company (a division of the Walt Disney Company), Salem Communications, and Reach Satellite Network, as well as being former assistant attorney general for the state of Missouri. Jim and his wife Emily have three adult children and two grandchildren.
Publication Date: April 2018
Few business owners are prepared to maximize their business’s value when it’s time to sell or transition. In most cases it’s because they just don’t know how. Don’t wait until something unforeseen happens and you’re forced to exit your business; start planning now for your eventual exit. Look at your business the way a buyer will look at your business. Is it irresistible or damaged? Problematic or attractive? You can control the perception, but only if you set your mind to it.
Seeing your business the way a buyer does is how the pros do it. This perspective will help you maximize value in good times or bad, reduce your tax bill, and even shorten the due diligence and documentation process.
In Jim Cumbee’s Home Run, a Pro’s Guide to Selling Your Business, you’ll learn how a buyer will look at your business based on what Cumbee calls the Seven Principles of Irresistibility:
•Diverse customer base
•Reliable financial statements
•Unique market position
•Believable growth history
Follow these seven principles and your business will be irresistible to buyers. And that’s called hitting a home run!