Family businesses typically want to keep the business in the family—not sell it. Selling the business for many family businesses is never on the radar. But what happens when an unsolicited acquisition offer lands the director’s desk?
Too often, families panic in the moment and scramble for a response. Instead of impulsively reacting, Travis W. Harms encourages families to prepare for unsolicited offers. Those that invest in preparedness make better decisions, Harms says, even if a sale isn’t on the table.
This article outlines the five steps to take to prepare for unsolicited offers.
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