Find out what to do, and avoid, when selling a business

First West Capital co-founder Kristi Miller has seen it all when it comes to helping buyers and sellers of mid-marketbusinessesacross Canada.

There have been the good — the transactions that go smoothly and everyone comes out happy.

But she’s seen plenty of the bad, too.

“Those are sort of like where you go to buy a house, make an offer upon inspection, find a bunch of issues and then grind away at a deal.”

And then, well, there’s the ugly.

“These are often the bleedouts involving not just failing to close a deal, but possible litigation and a lot of potentially lasting collateral damage to the business.”

On Nov. 6 and 7, all of these outcomes — good, bad and ugly — will be among the topics on tap at the Vancouver Business Transitions Forum at the Hyatt Regency Vancouver.

Now in its fifth year, the conference has become a can’t-miss event for sellers and buyers of small and medium-sized businesses, and the experts who advise them.

“There are lots of challenges inherent in a transition, which is why the Business Transitions Forum is so relevant,” says Miller, who is chairing this year’s event.

The forum helps arm buyers and sellers with the information required to get the best deal possible when a business changes hands.

The conference provides plenty of opportunities to network with veteran private equity financiers and advisers. Attendees will also hear from entrepreneurs who have been through it all.

Of course the big draws at the Business Transitions Forum are the numerous topical presentations, including a panel discussion led by Miller herself. The discussion will feature three seasoned veterans of business: Delna Bhesania, the chief executive officer of Bardel Entertainment, Vic Marks, founder of Hartley & Marks, and John Nicola, chairman and chief executive officer of Nicola Wealth.

Entitled Exit Stories: The Good, The Bad and The Ugly, attendees can learn Miller’s perspective regarding what steps sellers should take to get the greatest value from the sale of their business, as well as what red flags might crop up in the eyes of buyers.

But Miller is quick to add the three other panelists are truly the main course of the discussion, helping illustrate what to do and, equally important, what not to do when transitioning out of or into a business.

“Each person on the panel brings a different perspective.”

Miller adds that it’s often the shared experiences of entrepreneurs that resonate most with attendees to the forum.

“Those direct stories from people who have ridden the emotional roller-coaster that is selling a business” are often what entrepreneurs relish.

Sure everyone loves a good story, but for entrepreneurs, these windows into lived experiences can be profoundly beneficial.

“It’s a big part of this forum — hearing those true stories from the people who have actually done it, and survived to come out on the other side.”

Visit Businesstransitions forum.com/vancouver for more information. Early bird discounts are available until Oct. 16.