10-Point Checklist for Selling Your Business with Eric Becker | Cresset

Why It Matters

A disciplined, well‑planned exit maximizes valuation, safeguards legacy, and ensures founders transition smoothly into their post‑sale purpose.

Key Takeaways

• Start with clear vision for business, family, and personal goals.
• Align leadership team and potential buyers early to avoid surprises.
• Hire tax, legal, and investment banking experts for a smooth sale.
• Maintain confidentiality and prepare for unexpected events like illness.
• Plan post‑sale purpose—philanthropy, new ventures, or family legacy.

Summary

The video walks entrepreneurs through a ten‑point checklist for preparing a business sale, emphasizing that the process demands the same rigor as running the company itself. Becker urges founders to first define a comprehensive vision that includes the enterprise, their family’s future, and personal aspirations, then assess timing and market conditions before committing to a sale. Key insights include aligning the leadership team with the founder’s interests, identifying potential internal buyers, and securing strict confidentiality. He stresses hiring a suite of professionals—tax advisors, estate attorneys, transaction lawyers, investment bankers, and wealth managers—to navigate valuation, tax efficiency, and legal safeguards. Understanding industry cycles, establishing a succession plan, and forming advisory or fiduciary boards are also highlighted as critical steps. Illustrative anecdotes underscore the human side: a founder’s failure to discuss the sale with his children led to missed opportunities, while a well‑structured advisory board provided strategic guidance during pivotal moments. Becker also notes the importance of post‑sale planning, from defining a purpose—whether philanthropy, a new venture, or family legacy—to annual reviews of financial and estate strategies. The implications are clear: thorough preparation can boost sale price, reduce tax liabilities, and protect the founder’s legacy. By treating the exit as a strategic project, entrepreneurs position themselves for a smoother transaction and a purposeful next chapter.

Original Description

With an undertaking as big as a business exit, you want to be prepared before, during, and after the transaction. Though developing a plan can be challenging, Cresset Co-Founder & Co-Chairman Eric Becker shares strategies that help you optimize towards your goals.

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Cresset is a firm built by clients, for clients. As an independent, award-winning multi-family office and private investment firm, we are reimagining the way wealth is experienced. Our purpose is to help ensure that both wealth and life are fully optimized*—integrated, intentional, and aligned with each client’s vision of success.

We provide access to the caliber of talent, ideas, and investment opportunities typically available to the largest single-family offices and institutions. Our approach is personalized, entrepreneurial, and client-first.

Proudly owned by our clients and employees, Cresset was built to endure. We are creating a 100+ year firm—one focused on delivering an exceptional experience, not only for the families we serve but for the team that serves them. Recognized by Barron’s and Forbes among the nation’s top multi-family offices* Cresset is guided by long-term relationships, shared success, and a belief that wealth should serve a life well lived. Learn more at www.cressetcapital.com.

*Disclosures related to awards, recognitions, and rankings available here.

*Cresset was recognized in Barron’s Top 100 RIA Firms. Each year’s rankings awarded by Barron’s in September and determined using proprietary algorithms based on data covering July of prior year through June of award year.

*Cresset was recognized in Forbes Top RIA Firms. Each year’s rankings awarded by Forbes in October based on data covering April of prior year through March of award year and determined using proprietary algorithm based on qualitative and quantitative data developed by SHOOK Research.

**Wealth Optimized, Life Elevated refers to the firm’s philosophy and process in providing advisory and planning services and is not intended to convey a guarantee of results.

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