Does anyone have experience exiting corporate position?

searcher profile

March 05, 2020

by a searcher from University of South Alabama in Mobile, AL, USA

I have resigned from my position and plan to relocate due to family member's illness. I do not plan to re-enter corporate healthcare. I am, more or less, looking for advice on next steps from individuals with a similar experience. Additionally, for those of you who are near closing on a business, what were your most effective means of finding investors, lenders, etc.? Thanks!

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Reply by an investor
from Illinois Institute of Technology in Pasadena, CA, USA
Interesting Paul / Wilson....I had 15 years in the energy industry, the last as senior M&A exec with a fortune 20. Left to do first of 4 acquisitions. One big mistake....left corporate assignment when the LOI was executed on the first deal......didn't realize that all deals don't close even with both parties in agreement (in this case we did close).

Re finding lenders: you sell until one says yes.....we had 38 presentations to banks on our first deal, #39 lent us the funds to close the deal...

Re investors...there are thousands of private equity, SBIC, family offices, etc., that you, again, sell the deal to. Be happy to chat as well. to learn your acquisition redacted
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Reply by an intermediary
from New York University in Lehi, UT, USA
I am sorry to hear about your family member , which is a rough reason for a career change. Both my business partner (who happens to be my spouse) and I were in large corporations when we took the plunge to business ownership. We decided to become business brokers with Transworld, leveraging my commercial banking and his risk management careers into our current venture. I would be happy to speak with you one-off about the process, how we found the right business for ourselves, and how we were able to get an SBA loan to start the business. Good luck to you!
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