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Understanding How to Make a Strategic Exit When Selling Your Business with Harold J. Faig
In episode #36 of the Founder's Guidepost Podcast, I had the privilege of sitting down with Harold J. Faig, who brought his extensive experience in global corporate strategy to the table.
Harold shares why owners need to prepare before selling their businesses. He highlights the role of professional advisors in helping with the sale process and the importance of a long-range plan that showcases the business's future. Harold also touched on the need for a strong organizational structure and the right team for a successful transition.
Ultimately, our discussion underscored the value of preparation, strategic clarity, and seller readiness in successfully selling a business.
What You'll Learn:
Understanding Business Value and Organizational Structure: Harold shares the importance of internal reviews, strategic positioning, and evaluating the company's leadership to ensure a successful transition to new ownership.
Role of Professional Advisors: The necessity of engaging professional advisors, not just for legal and financial aspects but also for understanding and articulating the business's value to potential buyers. Advisors play a key role in guiding the seller through the process, avoiding common issues like deal fatigue.
Preparation and Strategic Planning: This includes understanding the buyer's mindset, having a clear strategy and objective, and developing a long-range plan that outlines the future potential of the business.
LOVED this episode? Leave us a review and rating here: https://podcasts.apple.com/us/podcast/founders-guide-post/id1648393214
Links & Resources:
Reach out to Armando if you have any questions for Harold! Preserve Your American Success Story!
Find Armando on LinkedIn
About Harold Faig:
Harold J. Faig, a distinguished leader in the plastics and healthcare industries, co-founded MedPlast, Inc. in 2008 alongside Baird Capital. As CEO until its 2016 sale to JLL Partners and Water Street Healthcare Partners, he drove MedPlast's transformation into a global provider of custom plastics solutions, now operating as Viant with twenty-three facilities worldwide. Harold's strategic leadership extended beyond MedPlast; he advised River Cities Capital on acquiring Q'Apel, where he remains a stockholder. Prior to MedPlast, Harold enhanced his portfolio with significant roles, including non-executive Chairman of Xaloy, Inc., and President and CEO of The Tech Group, Inc., which was sold to West Pharmaceutical in 2005. His career began at Milacron, retiring as President and COO in 2003 after extensive service in various capacities. Educationally, Harold holds an MBA from Xavier University, along with undergraduate degrees from the University of Mount Saint Joseph and the University of Cincinnati. A prolific innovator, he has been awarded several patents in plastics and control systems. Harold's commitment to industry excellence is evidenced by his leadership roles within the Society of Plastics Industry and his induction into the SME College of Fellows in 1998.
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By Armando RomanIn episode #36 of the Founder's Guidepost Podcast, I had the privilege of sitting down with Harold J. Faig, who brought his extensive experience in global corporate strategy to the table.
Harold shares why owners need to prepare before selling their businesses. He highlights the role of professional advisors in helping with the sale process and the importance of a long-range plan that showcases the business's future. Harold also touched on the need for a strong organizational structure and the right team for a successful transition.
Ultimately, our discussion underscored the value of preparation, strategic clarity, and seller readiness in successfully selling a business.
What You'll Learn:
Understanding Business Value and Organizational Structure: Harold shares the importance of internal reviews, strategic positioning, and evaluating the company's leadership to ensure a successful transition to new ownership.
Role of Professional Advisors: The necessity of engaging professional advisors, not just for legal and financial aspects but also for understanding and articulating the business's value to potential buyers. Advisors play a key role in guiding the seller through the process, avoiding common issues like deal fatigue.
Preparation and Strategic Planning: This includes understanding the buyer's mindset, having a clear strategy and objective, and developing a long-range plan that outlines the future potential of the business.
LOVED this episode? Leave us a review and rating here: https://podcasts.apple.com/us/podcast/founders-guide-post/id1648393214
Links & Resources:
Reach out to Armando if you have any questions for Harold! Preserve Your American Success Story!
Find Armando on LinkedIn
About Harold Faig:
Harold J. Faig, a distinguished leader in the plastics and healthcare industries, co-founded MedPlast, Inc. in 2008 alongside Baird Capital. As CEO until its 2016 sale to JLL Partners and Water Street Healthcare Partners, he drove MedPlast's transformation into a global provider of custom plastics solutions, now operating as Viant with twenty-three facilities worldwide. Harold's strategic leadership extended beyond MedPlast; he advised River Cities Capital on acquiring Q'Apel, where he remains a stockholder. Prior to MedPlast, Harold enhanced his portfolio with significant roles, including non-executive Chairman of Xaloy, Inc., and President and CEO of The Tech Group, Inc., which was sold to West Pharmaceutical in 2005. His career began at Milacron, retiring as President and COO in 2003 after extensive service in various capacities. Educationally, Harold holds an MBA from Xavier University, along with undergraduate degrees from the University of Mount Saint Joseph and the University of Cincinnati. A prolific innovator, he has been awarded several patents in plastics and control systems. Harold's commitment to industry excellence is evidenced by his leadership roles within the Society of Plastics Industry and his induction into the SME College of Fellows in 1998.