Clarence Wooten, founder of VentureFund.io and Progressly, will join Senior Vice President of Business Banking, US Head of Treasury and Payment Solutions , Leslie J. Anderson, and startup Adviser, founder of LM Group and co-star of Oxygenâ€™s Quit Your Day Job, Lauren Maillian at the 2016 Black Enterprise Entrepreneurs Summit at the Loews Hotel Miami, in Miami, Florida, where they will be hosting a panel on the art of cashing out on your entrepreneurial pursuits.
What this means is that if youâ€™re an entrepreneur who has done the work of building an established firm that fills a need, but youâ€™re looking for an exit strategy that will not only pay handsomely, but will also honor the work and efforts that youâ€™ve put into your establishment, Black Enterprise has experts that are eager to help.
For your benefit, Black Enterprise has gathered a panel of successful entrepreneurs, investors, and mergers and acquisitions specialists offering expert insight and knowledgeâ€”withÂ the proof to show for it. At the Entrepreneurs Summit you will learn about the diverse exit strategies, including acquisitions, sales, and IPOS that will help you to walk away from the deal happy. Ultimately, thatâ€™s what itâ€™s all about.
In case youâ€™re a unfamiliar with your exit options, check the brief key below:
Liquidation: Also known as the “call it quits and close the doors strategy.” Hereâ€™s what you need to know: In liquidation, any proceeds from the assets must be used to repay creditors. The remainder gets divided among the shareholders. If there are other shareholders, you want to make sure they get their due.
Sell: You get this one, surely. Find a friendly buyer who may be just as invested in maintaining the integrity of your business.
Merger & Acquisition (M&A): You find another business that wants to buy your business and you sell it. If negotiation is your strong suit, this method may be something to consider.
IPO: Sell your company (or portion(s)) to in the public markets. What you need to know: finding success in this space may be equivalent to finding a needle in a haystack. Not impossible, but not likely. You have the patience and the luck? Go for it.
Take the money for yourself: Pay off investors and pocket the rest. Believe it or not, some argue that this method just works.
Register now to find the exit strategy that may work for you at the 2016 BE Entrepreneurs Summit, May 4-7, Loews Hotel Miami, Miami, Florida.
Be sure to follow Black Enterprise on social media @BlackEnterprise for Entrepreneur Summit news, highlights, and updates. Use hashtag #BESummit to stay in the loop. Please be on the lookout at BlackEnterprise.com as speakers, activities, and sessions are announced.