Choosing The Right Time To Sell Your Business

Choosing the Right Time to

SELL YOUR BUSINESS PLAN FOR THE SALE OF YOUR BUSINESS FOR JOHN PANASEWICZ A Wharton MBA graduate and serial entrepreneur, the decision became clear many years before he successfully realized his ambitions. In 2005, John was already expressing a personal goal of moving towards retirement by 2014. IN 1997 TAB Members also supported John in his strategy to buy out his minority investors, run his business more effectively and prepare for the sale.

JOHN STARTED “I really benefited from preparing monthly presentations of issues and challenges to my TAB Board,” he recalls. “Receiving great insights and new perspectives helped Clear Choice, a “man with a truck” business that collects, me clarify my ideas. As a result, I implemented strategic reprocesses and sells used anti-freeze back to auto shops planning, key performance indicators and other metrics and fleets in Colorado. Clear Choice rapidly grew into the that helped me zero in on the most important elements largest route-based distributor of anti-freeze and wind- of running a successful business.” shield washer fluid to clients along Colorado’s front range. As a lifelong learner, John also has enjoyed the books, In 2003, John founded Great West Glycol (GWG) as a articles, speakers and topical discussion his TAB recycling operation to supply Clear Choice to customers. Facilitator/Coach provided over his nine years as a Four years later, he expanded GWG operations to sell its Member. He greatly appreciates the support his Board excess product directly to other customers. In 2010, he Members and Coach provided during the process of expanded further by starting G2 Solutions to sell heat finalizing his business for sale. transfer fluids, anti-freeze and services to the HVAC, industrial and fire-suppression markets. “I really benefited from preparing monthly presentations of issues and challenges to John realized that selling GWG separately my TAB Board.” might jeopardize Clear Choice’s supply chain. He determined that all three operating units should be sold together under a new holding company.

In 2006 John entered into negotiations to sell GWG, but talks fell apart. He realized that selling GWG separately might jeopardize Clear Choice’s supply chain. He determined that all three operating units should be sold together under a new holding company, Clear Choice Holding. A sale was finalized in December 2013, six months before the retirement target date John had originally set in 2005. John believed so strongly in the value of TAB that he included his potential buyers in his coaching sessions. HOW TAB HELPED DRIVE After the sale was finalized, he encouraged the buyers to

JOHN’S EXIT STRATEGY continue their TAB Membership, which they have done for the past 18 months.

While not yet fully retired (he continues to provide engi- John attributes much of the success to his exit strategy neering and strategic consulting to Clear Choice Holdings), to membership in The Alternative Board (TAB). “TAB John now spends up to 15 weeks a year pursuing his helped me in many ways both in growing my business passions—traveling, spending more time with his family and preparing to sell it,” he says. “Joining TAB turned and mountain climbing. out to be one of the best business decisions I ever made, because I knew I needed access to the best ideas and “I can’t imagine such a successful outcome without my best practices for my business.” Membership in TAB,” he says.

TheAlternativeBoard.com

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Source: The Alternative Board