Southard Financial
Business Valuation Memphis

Build a Dream Team When It’s Time to Sell

“Talent wins games, but teamwork and intelligence win championships.” – Michael Jordan

In 1992, the United States assembled what has been called “the greatest collection of basketball talent on the planet.” For the first time in Olympic history, at the Barcelona summer games, professional athletes were allowed to participate.

The U.S. men’s basketball “Dream Team” was made up of NBA players who were at the top of their careers. Any one of them on their own was a superstar. All of them together were unbeatable, and they had a lot to prove.

They quickly corrected that embarrassment and left no doubt that America was number one in basketball. They defeated every opponent they faced by an average of 46 points, and scored over 110 points in each game except for the gold medal game (when they only scored 103).

As impressive as they were on the court, it was the fact that this group of powerful men set aside their celebrity status and hard-charging personalities to form a team so cohesive and united that their coach never had to call a timeout. They demonstrated to the world what teamwork can do.

“Talent wins games, but teamwork and intelligence win championships.”

Michael Jordan

As appraisers being involved in business transactions over the past 30 years, we have seen many clients try to “hog the ball.” They attempt to sell their company without any representation or getting valuation advice beforehand.

Often, they are business superstars who are used to taking charge and getting things done. (After all, it’s probably how they managed to build a company from nothing to the point where it’s valuable enough to sell!) However, this mentality can often produce less than ideal results.

A business owner who is used to calling all the shots and being the most essential player on the team may have a hard time realizing that they aren’t automatically an expert when it comes time to sell. Most likely, they don’t have a lot of experience in the sale process and have an inflated view of their company’s value. By failing to lean on a talented team of seasoned professionals, they create unnecessary headaches for themselves and leave way too much money on the table.

How to Create Your Dream Team

As good as they may be, the attorneys and tax professionals you have done day-to-day business with along the way might not be who you need to turn to when it comes time to sell. It’s nothing personal towards them. You’re just looking to fill very specific roles. (The 1992 “Dream Team” passed on including Shaquille O’Neal…a college student at the time who would arguably go on to be one of the NBA’s greatest players.)

Seek out the skills of a dedicated transaction team that includes attorneys, accountants, bankers, and valuation experts who can navigate you through the complexities of selling your business. And get them involved early in the process. They’ll be able to help you improve the value of your company, structure an airtight transaction, and maximize your tax savings once the sale is completed.

The legal and financial consequences of a sloppy deal are simply too high to risk by going into the process with anything less than the best. When you’re ready to sell, our all-star team at Southard Financial is ready to help you put together a lineup that will bring home the gold. Give us a call to learn more!

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Recent Activities

  • Southard Financial facilitated the sale of Memphis' own Cooper Glass Company

    Southard Financial facilitated the sale of Memphis' own Cooper Glass Company
  • David A. Harris and Mark A. Orndorff spoke at the 2019 Annual Fall Conference of the New South Chapter of The ESOP Association

    David A. Harris and Mark A. Orndorff spoke at the 2019 Annual Fall Conference of the New South Chapter of The ESOP Association held in Orlando, Florida on October 16-17. They gave a presentation titled “Can Employees Really Impact Company Value?”

  • Southard Financial facilitated the sale of Memphis' own TOPS Bar-B-Q chain

    Southard Financial facilitated the sale of Memphis' own TOPS Bar-B-Q chain
  • David A. Harris and Matthew L. Jakes spoke at the 2019 Spring Workshop of the New South Chapter of The ESOP Association

    David A. Harris and Matthew L. Jakes spoke at the 2019 Spring Workshop of the New South Chapter of The ESOP Association held in Atlanta, Georgia in February, 2019 on the topic of “Valuation Appraisal Checklist – 10 Things Your ESOP Appraiser Should be Doing”

  • David A. Harris spoke at The Fall ESOP Forum of the NCEO

    David A. Harris spoke at The Fall ESOP Forum of the NCEO (National Center for Employee Ownership) held in Albuquerque, New Mexico in October, 2018 on the topic, “Communicating Valuation: Tools, Tips, and Examples”.

  • Southard Financial negotiated the sale of and was the exclusive financial advisor to Southern Systems, Inc.

    Southard Financial negotiated the sale of and was the exclusive financial advisor to Southern Systems, Inc.
  • David A. Harris spoke at the 2018 Annual Fall Conference of the New South Chapter of The ESOP Association

    David A. Harris spoke at the 2018 Annual Fall Conference of the New South Chapter of The ESOP Association held in Birmingham, Alabama in September, 2018. He led a workshop called “The People’s Roundtable Interactive Workshop – A series of ‘Build to Last’ activities that focus on developing successful communication and team building programs for employee owners of all generations.” Speakers included Dolores Lawrence, Blue Ridge ESOP Associates; Lindsay Baublitz, SCandH Capital; David Harris, Southard Financial LLC

  • Mark A. Orndorff spoke at the ESOP Nuts & Bolts Seminar of the NCEO

    Mark A. Orndorff spoke at the ESOP Nuts and Bolts Seminar of the NCEO (National Center for Employee Ownership) held in Indianapolis, Indiana in August, 2018 on the topic of “What’s Your Company Worth? – ESOP Valuation.”

  • Southard Financial helps Transnetyx expand with growth capital

    Southard Financial helps Transnetyx expand with growth capital
  • Mark A. Orndorff spoke at the American Booksellers Association Winter Institute

    Mark A. Orndorff spoke at the American Booksellers Association Winter Institute 2018 held in Memphis, TN in January, 2018 on the topic of Succession Planning titled “What is Your ‘End Goal’?”

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