Welcome!

News Feed Item

Randy Siller: Selling a Business Is Key Skill for Entrepreneurs

A Recent Article Highlights the Importance of Learning How to Sell a Business -- Drawing the Attention of Randy Siller

NEW YORK, NY -- (Marketwire) -- 02/04/13 -- For the serial entrepreneur, selling a business can prove a fairly common occurrence; for other business owners, however, the mere idea of selling a company can seem daunting. According to a recent article from Link 2, selling a business is a skill that every business owner should have. The article notes the importance of honing this skill set, which includes mastering the timing, learning to negotiate well, and evaluating the company's true worth. These comments on selling a business have earned the attention of wealth analyst Randy Siller, who has responded to the article with a press statement.

"Proper planning for the sale of a business is critical for the owner of any closely held business," Siller affirms, in his new press statement. He goes on to offer some advice for business owners preparing for the sale of their companies. "An often overlooked tool in helping the business owner through this emotional process is the Financial Independence Model. Through the use of proper modeling, the business owner can see ahead of time the impact of various sale scenarios on his or her ability to maintain a desired lifestyle."

Randy Siller explains the benefits of this approach. "This can be a tremendous help during negotiations," he remarks. "It can help the business owner determine not only an acceptable price but the terms as well. For example, if an earn-out is proposed, the business owner can know ahead of time what guarantees should be built in to allow them to reach their own goals for financial independence."

Siller offers further insight. "Another example would be an offer that includes keeping the business owner on as an employee for a period of time. For how much time -- and for how much money -- should the business owner stay on? Through proper modeling the impact of all of this can be determined, helping business owners meet their own financial goals."

Randy Siller says that matters of taxation are also important to consider. "Most sales of closely held businesses are done as 'asset sales' as opposed to stock, or partnership (or LLC) unit sales. Why? The purchaser does not want to take on any unknown liabilities. The purchase of 'assets' is the common way to avoid that."

Continues Siller, "What does that mean for the seller? If the business is an LLC or partnership, there is generally nothing to be concerned with. On the other hand, if the business is a C Corporation or an S Corporation that converted from a C Corporation within the last 5 years (for those that convert in 2012 or 2013), then the impact can be big. The problem is that there can be a double tax, if the corporation still has what is known as Earnings and Profits from its C Corporation years. There will be a tax at the Corporate level, then the net proceeds will be subject to tax again when the Corporation makes a distribution to the business owner."

This is where planning comes into play, Randy Siller says. "Are there ways to avoid this double tax? Yes, with proper planning. In addition, the use of techniques like the Capital Gains Bypass trust can often be used to reduce the tax impact, even if the business is already an LLC or partnership."

"The bottom line is that planning ahead, which should include running various scenarios through a Financial Independence Model, can put the business owner in a significantly better position post-sale," concludes Randy Siller.

ABOUT:

Randy Siller is a veteran of the financial services industry, and a founding partner of the firm Siller & Cohen. For more than two decades, the firm has offered wealth advisory services to families, individuals, and businesses across the country. Randy Siller has been cited in numerous publications, including Time and Fortune.

Registered associates of Siller and Cohen are registered representatives of Lincoln Financial Advisors Corp. Securities and advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (Member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Siller and Cohen is not affiliated with Lincoln Financial Advisors Corp. CRN 201301-2076318

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
StackIQ has announced the release of Stacki 3.2. Stacki is an easy-to-use Linux server provisioning tool. Stacki 3.2 delivers new capabilities that simplify the automation and integration of site-specific requirements. StackIQ is the commercial entity behind this open source bare metal provisioning tool. Since the release of Stacki in June of 2015, the Stacki core team has been focused on making the Community Edition meet the needs of members of the community, adding features and value, while ...
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Ixia (Nasdaq: XXIA) has announced that NoviFlow Inc.has deployed IxNetwork® to validate the company’s designs and accelerate the delivery of its proven, reliable products. Based in Montréal, NoviFlow Inc. supports network carriers, hyperscale data center operators, and enterprises seeking greater network control and flexibility, network scalability, and the capacity to handle extremely large numbers of flows, while maintaining maximum network performance. To meet these requirements, NoviFlow in...
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
The competitive landscape of the global cloud computing market in the healthcare industry is crowded due to the presence of a large number of players. The large number of participants has led to the fragmented nature of the market. Some of the major players operating in the global cloud computing market in the healthcare industry are Cisco Systems Inc., Carestream Health Inc., Carecloud Corp., AGFA Healthcare, IBM Corp., Cleardata Networks, Merge Healthcare Inc., Microsoft Corp., Intel Corp., an...
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
Continuous testing helps bridge the gap between developing quickly and maintaining high quality products. But to implement continuous testing, CTOs must take a strategic approach to building a testing infrastructure and toolset that empowers their team to move fast. Download our guide to laying the groundwork for a scalable continuous testing strategy.
Early adopters of IoT viewed it mainly as a different term for machine-to-machine connectivity or M2M. This is understandable since a prerequisite for any IoT solution is the ability to collect and aggregate device data, which is most often presented in a dashboard. The problem is that viewing data in a dashboard requires a human to interpret the results and take manual action, which doesn’t scale to the needs of IoT.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
“Being the one true cloud-agnostic and storage-agnostic software solution, more and more customers are coming to Commvault and saying ' What do you recommend? What's your best practice for implementing cloud?” explained Randy De Meno, Chief Technologist at Commvault, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.