For the past 20 years, I have helped hundreds of business leaders manage the myriad details involved in managing, growing, and selling businesses involved in labels, packaging, and specialty graphics. As CEO of the LaManna Consulting Group, I advised business owners on how to prepare their businesses for sale and meet well-qualified potential buyers. And […]
Artificial intelligence is already improving the efficiency of many of the data evaluation tasks of dealmaking. But will AI totally transform the M&A process? Probably not in the immediate future – especially in the realm of small to mid-sized privately held businesses. Selling a privately held business requires trust, transparency, and integrity. The process stirs […]
Selling a label business to managers can be part of a well-conceived exit plan if all conditions are optimal and the management team is ready to lead. Find out what Rock LaManna says in this timely Ask Rock Q&A. […]
What’s the difference between you and the other guys? […]
A reader wonders if she should sell her label converting business to free up time to spend with her teenagers. In this edition of Ask Rock, expert advisor Rock LaManna offers a list of ways she can keep her business and get the family time she craves. […]
To help business owners prepare for the process of selling their business, the LaManna Consulting Group compiled a white paper: “Demystifying M&A Jargon.” This post features definitions from our most recent update to the glossary. […]
A reader wants to know if embarrassing personal information will come out when he sells his business. Expert Rock LaManna explains why it’s crucial to deal with the skeletons in your closet before you put your business on the market. […]
The time to craft a new personal identity for yourself is before the sale of your business is finalized. When you relinquish your CEO title and no longer need to work for money, it’s important to have plans in place for the next chapter of your life. […]
There are two types of valuation methods for Main Street printing companies, and they can affect how you set and defend your asking price and what you ultimately get in the deal. […]
For years, your identity has revolved around owning and building a business. That will change when you sell your business. Expect to wrestle with conflicting emotions the day you close the deal. […]
A father wants to know if he should let his sons back into the family printing business. […]
The hardest part of selling a business is closing a deal – negotiating the slew of details that determine how much and when you will get paid. It’s important to know what to expect so you can close the deal quickly. Here are a few tips.
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Negotiating the sale of your graphic arts business requires give and take. Rock LaManna lays out the areas where you can compromise to advance the deal. […]
A reader wants to sell his business quickly – and Rock states his concerns with the situation. […]
When selling a business, it’s important to hire advisors that have experience in mergers and acquisitions. […]
If a potential buyer of your business insists that an earnout payment be part of the sales agreement, how would you respond? Here are a few points business sellers should know about the rationale behind earnouts and some potential pitfalls. […]
When selling your business, the buyer may try to disarm you with a surprise move during negotiations. Learn how to protect yourself. […]
When a potential buyer for your business sends a letter of intent indicating their plans to make an offer, it’s easy to imagine that the deal is already done, But If you don’t fully understand who the potential buyer is and what they want to do with your business, you may be setting yourself and your employees up for a post-sale disaster. […]
A design firm as a tuck-in sounds like a great way to grow a specialty printing business. How can the buyer ensure a smooth transaction? […]
No matter where you are in your business journey, it’s never too soon to begin building credibility with potential buyers. Here are our five best tips for helping you get started. […]
Rock offers tough love to answer this one. […]
A key part of the business-sale process is finding the right buyer for your company. These pointers can help clarify your thinking before searching for a buyer. […]
Seeking competitive bids from multiple buyers sounds like a good way to sell your business. But the traditional M&A auction process poses some risks for both sellers and buyers. […]
Male or female, young or old, if you own a business in the graphic arts industry, you cannot be truly successful unless you step into your rightful role and lead as a King does on the chess board.
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Red flags to look for when considering a private equity deal. […]
These are the two most common issues that owners in the graphic arts industry face – and how you can remedy them. […]
Are you looking out for your stakeholders as well as your shareholders? […]
Always consider the source of your “facts” before making decisions based off their information. […]
There are more factors to a successful sale than just walking away with a big check. […]
It’s important to understand that the deals publicized through PR agencies and newsletters from brokers are basically works of fiction. […]
Like chess, the process of buy-sell-grow is a long game that requires strategy and forethought. Follow this series for the best tips and advice on how to win. […]
Your team doesn’t care if you successfully sell your business or not and for any sale to happen, you will need their help. Here’s how to get them onboard. […]
Before you even start to think about dollars and spreadsheets, you need to make sure you’re head is in the game. […]
The buyer’s integrity matters more than you might think.
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So you think you’re gonna sell this year? Maybe, maybe not. Now’s the time to educate yourself on the process. […]
Owners in the graphic arts industry over age 60 need 3 to 5 years to plan for succession. How many of these 8 key elements have you checked off?
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Understanding and protecting intangible assets can increase the value of your company when selling a business. Here are five good things to know. […]
Your company’s website still makes a powerful impression of your brand when potential customers begin researching vendors who can supply certain products or services. If it’s been awhile since you updated it, here are some ideas to consider. […]
Starting a new business after exiting another business has its own set of perils. In Part 6 of this series, Rock LaManna reflects on some of the lessons learned the hard way when he founded a start-up manufacturing company.
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The biggest mistake to avoid when selling your business has little to do with the business itself. It has to do with you. If you’re not emotionally prepared to sell your business, it’s going to be a rough ride to the finish line and in the years that follow. These tips can help you prepare emotionally. […]
It’s never too early to start preparing for the end of your role in your business because you never know when that end will be. Successful business sellers know that preparing their business to be attractive to buyers can take years. […]
It may feel uncomfortable to ask someone to sign an NDA if you’ve always operated by handshake, but they are a typical part of the buy-sell process. Experienced buyers expect it. […]
A free valuation derived from filling out an online questionnaire isn’t the same as custom valuation performed by experienced industry advisors who know how your business stacks up against similar companies that might be for sale. […]
Guest blogger Eileen Fritsch offers insight and feedback on Rock’s new memoir, They Named You Right. […]
Having a manager run the business while you participate part-time is an excellent hybrid solution, giving you freedom and flexibility for the family. […]
Business owners and their families aren’t the only ones affected by the sale of a business. The transfer of ownership affects employees too. Consider these tips in helping employees make smart career decisions after the business sale is announced. […]
In part 5 of this multi-part series, Rock focuses on both his deal and his future.
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The influence of private-equity groups in all segments of the economy is growing. Yet misperceptions exist about the private equity groups that buy mid-sized companies in the label, printing, and specialty graphics markets. Here’s a quick overview of the changing role of private equity. […]
Don’t be naive and assume that substance abuse isn’t happening in your workplace. Statistics show that 70% of illicit drug users are in the workforce. Your best bet is to be aware and get ahead of any problem before catastrophe can occur. […]
The pandemic, inflation, and supply chain shortages are knocking the wind out of many business owners. Owners call me daily, wondering if it makes sense to sell right away – even this year if possible. […]
While a letter of intent (LOI) from a buyer is not a legally binding offer, it does indicate how much a buyer might be willing to pay for your company … after they thoroughly examine your business. Reviewing (and fixing) these 20 key areas can ensure a good deal for both of you. […]
Whether you promote an employee or hire someone from the outside for a key management role, setting them up for success from the jump is key. Rock details how to get them off to a good start. […]
You work long and hard sometimes, but does that necessarily make you a workaholic? Rock outlines the difference. […]
How do you handle a rage-a-holic brother who is disrupting the family label finishing business? […]
Many owners go through the grieving process of leaving their core mission behind as they begin to reinvent themselves. As you contemplate the sale of your business, what does the post-arena picture look like? […]
Here are a few factors to consider if you want to leverage one offer to buy your business into multiple offers. […]
In the 4th post of this multi-part series, Rock LaManna reflects on what he learned during the process of selling his share of Vomela Specialty Company to Tom Auth.
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There are always buyers who want a turnkey business if it is profitable. A modest specialty screen printing business can be tucked into a bigger graphic arts company or continue to run as a standalone. […]
Before signing a buy-sell agreement that stipulates what happens to an exiting partner’s shares of the business, it’s important to consider many possible scenarios.
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Before a potential buyer of your business starts their due diligence, prepare by performing these 7 essential tasks. […]
In part 3 of this multi-part series, Rock learns several harsh truths that would shape his future with Vomela and lead to his eventual departure.
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Building a loyal team in your graphic arts organization starts with great leadership. But it can end with a higher valuation of your business when you get ready to sell it. […]
Getting a business valuation before you begin to look for potential buyers for your print company can help you identify specific ways to grow your business before you sell it. Here are three growth-related questions that can guide your growth plans.
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Trying to time a sale is always a risk. We never know how long label printing and converting will be in favor. We can’t predict whether multiples will go up or down. In short, the future is always a gamble. […]
Trade shows are great places to connect with buyers on the prowl for new businesses to acquire. Experienced dealmakers I meet at trade shows have pretty specific advice about what buyers today are looking for from sellers. Here’s the inside scoop. […]
In part 2 of this multi-part series, Rock looks back at what he learned about growing a family business, being appointed President and CEO of Vomela Specialty Company instead of one of his 10 siblings, and key leadership lessons learned.
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Profitable companies constantly seek aggressive expansion. Luring smaller fish with big offers is part of their strategy.
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Very rarely is it a slam dunk that the kids are perfectly ready and interested in buying. Families that get the best results usually work with a family business program or a consultant who specializes in the graphic arts industry. […]
If you are thinking about selling your label or packaging business – and you are thoroughly prepared – we see possibilities of all types in the buy-sell arena.
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In chapter 1 of this multi-part series, Rock looks back at what he learned during the first stage of his career when he worked as an employee in his father’s business and shares practical advice for owners and family businesses and their children.
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Who doesn’t want to increase sales? Consider offering wholesale prices to well-connected, independent print experts. These value-added resellers can bring a steady stream of new orders through your web-to-print portals.
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When was the last time you updated your company’s branding? Considering how many changes have occurred in the marketplace over the past 3 years, maybe it’s time for brand refresh.
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How would you feel about having to lie, withhold, omit information, or misrepresent the truth to protect your boss? […]
Is your print sales team using video messaging yet? If not, you should consider it. If you have difficulty connecting with clients and prospects in person, providing personalized video messages through emails, texts, and social media posts can be the next best thing.
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I’ve watched hockey, played hockey, and coached hockey. I’ve thought a lot about how it affects the way I work and compete. Success comes from passing and moving and keeping your eye on the target.
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Succession planning in a family business can be tricky. Check out our tips for identifying and coaching potential future leaders of your business.
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The time to start working through all the succession planning steps should begin well before you transition the business. […]
Your golden years of retirement might not be so golden if you suddenly find yourself in the middle of a messy divorce. Here are some points to consider before it comes to that.
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Families and businesses are different in how they approach and resolve problems. Guidance from an objective outsider can only help family businesses when conflicts arise.
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Research shows that companies with low levels of employee engagement have higher levels of absenteeism, turnover, safety issues, and quality defects. Improve employee engagement and improve your company’s resiliency, productivity, and profitability. We’ve got six ways to get started.
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The length of the grieving period after selling a business differs with each person. Even for someone who is relieved to sell the business, it’s a major life change. […]
Business leaders must adjust to the realities of the post-pandemic workforce. Updated leadership training is required to achieve the high levels of employee engagement that can help your shop reduce turnover, retain key employees, and improve productivity.
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If your company is under-staffed, now is a good time to re-evaluate the types of jobs that must be performed by full-time employees and what types of work could be handled either temporarily or full-time by independent contractors. […]
Are grow and prosper your top goals for 2022? Geting on board with these six trends can ensure you hit those marks. […]
As you launch your plan to retire or exit from your business, much of what you do in the next five years depends on your business valuation. Rock offers key insight into business valuations. […]
A look back at the mergers and acquisitions that closed in the commercial-printing and wide-format graphics segments in 2021 shows how print-business owners use acquisitions to expand services or grow their customer bases. […]
To get a big-picture view of 2021 M&A activity in labels and packaging, we have summarized a collection of press releases that acquiring companies issued in 2021. The summaries provide insights into what private-equity investors and owners of labels and packaging companies hope to accomplish through different types and sizes of mergers and acquisitions. Use these insights to start preparing your business for sale in 2022 or beyond. […]
Looking to recapture that sense of passion, optimism, and urgency you felt when you founded your business? Hoping to attract new talent and investors? A mindset change might be just the thing you need. […]
If you are considering getting into the packaging business, pay attention to what’s happening with nanographic printing. This breakthrough technology from Landa Digital Printing provides users with some key advantages. Print business journalist Eileen Fritsch explains why. […]
What to do when your sound advice based on past experience is dismissed as personal bias. […]
What’s EBITDA and why is it important? If you’re thinking about selling your business, you need to know. We turn to an expert for the answers. […]
In the quest to develop business plans for the next year, it’s easy to overlook the steps you should take now to put your personal finances in order as well. This list of questions can help you get started. […]
There are plenty of ways for a label business owner to stay involved, even after many operating decisions have been turned over to a self-sufficient management team. […]
Research shows that job burnout rates are higher now than before the start of the pandemic. If you don’t take employee burnout seriously,you risk losing some of your most talented employees. Here what business owners need to know about burnout and how to prevent it. […]
Before selling your business, consider hiring a litigation lawyer to vet the non-compete terms included in your purchase agreement. […]
When developing growth strategies for your business, take time to evaluate what skills your employees already have and what skills your company will need to move forward. Before assuming that you must hire new people, consider these strategies for offering more fulfilling opportunities for your current employees. […]
The CEO isn’t exempt from personal development. Getting the best out of every employee starts by setting the example at the top. […]
Is investing in a sales trainer the right move for your business? […]
Guest blogger Doug Wick, executive coach at Positioning Systems, cautions against getting sucked into the whirlwind of urgent daily priorities that rob you of the focus required to move your team forward and offers four tips to get that focus back. […]
Thinking about maybe selling your business? You’ll want to consider the advantages of an off-market deal. […]