Planning an exit…….or just exit curious? Dan McGuire and Graham Palfry-Smith


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Presented by Dan McGuire and Graham Palfry-Smith at the UK Recruiter Recruitment Industry Conference in November 2012

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  • Why we are here - Dan, “some of you here are planning to exit, others……….”Introduction - DanIntroduction - GPSWhat we are going to cover - GPSTricks of the trade - GPSSome takeaways - GPS
  • GPS - GETTING READY TO SELLDevelop a planAgree an exit strategyBe realistic about where you are now..... ....and where you are going DAN - Staff according to your plan Make sure key staff ‘get it’ Think like a buyer GPS - CHOOSING ADVISORSAlways take recommendations from people in your network whom you trust‘Interview’ them or have a ‘beauty parade’Reference specific people, not just the firmDAN - you must listen to their advice, you are paying for it, but not necessarily follow it!Lawyer is probably the key relationshipNot mates and ideally not family
  • GPS - In every deal and leading up to one there will be ups and downs, prepare and don’t let the bastards grind you down. Only those with immense fortitude can get deals done, if you are fragile emotionally or even remotely paranoid then forget it!!!DAN - don’t plan anything major, like having a baby, moving house or a big holidayThis will detract from your deal and load on you unnecessary pressure
  • GPS - Beware distractions, keep business going, work hardRead everything and ask awkward questionsLearn some jargon - bum sniffing, fireside chats, beauty parade, die in a ditch, chipping, DAN - Take personal financial/tax advice
  • GPS - Don’t panic or become paranoid, take advice and get back in the boat!DAN - Remember this is business NOTHING PERSONAL
  •  DAN - Earnouts (do you want to stay in or leave, do they want you to stay in or leave - are views compatible?)- Succession planning (can someone take your position if you are to leave?)Disclosures/warranties (don't do anything you wouldn't want to disclose/give a warranty against - people understand how small businesses are run, small things are ok but not silly stuff). GPS - a yacht and a mistress!? Fictitious employeesDAN - Deal breakers – what would REALLY make you pull out of the deal…and it is not always price GPS - “A successful deal is where both sides walk away mildly disgruntled” – Andrew BanksDAN - but you can have a great exit!GPS - DD is very important, never too early to start preparing and we have some hand-outs on this we’ll happily send you if you leave your business card with us, Louise or one of her colleagues
  • [Thank you for listening…….we have been Dan and Graham…..It’s good morning from me and good morning from him…..APPLAUSE..Thank you we’re here all week…..try the chicken]
  • Planning an exit…….or just exit curious? Dan McGuire and Graham Palfry-Smith

    1. 1. Planning an exit……….….or just exit curious? Dan McGuire @dan_mcg Graham Palfery-Smith @grahampa
    2. 2. Exiting your recruitment company some tricks of the trade• Getting ready to sell• Choosing the right advisors• Practical tips• Managing the roller-coaster• Avoiding potholes
    3. 3. Manage the emotional roller-coaster
    4. 4. Practical tips and avoiding potholes
    5. 5. When things go wrong...and they will!
    6. 6. Some takeaways• Have a plan – be realistic not idealistic• Earnouts & succession planning• Warranties, Indemnities and Disclosures• Deal breakers• Prepare your due diligence• What a ‘successful’ exit looks like
    7. 7. Any questions?Graham Palfery-Smith Dan dan@cube19.com07595 963932 07789 961621