Mergers and acquisitions can create value and strengthen offers, but they are not for the faint of heart. Matchmaking can be lengthy, deals can fall apart and transitions can be rocky, but careful management of the process can bring new life and new opportunities to both parties.

Selling is a desirable exit plan, but is widely misunderstood by potential sellers. Value is the name of the game, and value is in the eye of the beholder. Many creative firms who approach me about facilitating a sale do not have the client base, the infrastructure or the market position to be a desirable acquisition. Sellers can position themselves for eventual purchase, but it takes planning.

Exit plans don’t have to include selling but they require the same careful planning years ahead of the event. Ideally, exit plans should be on the owner’s mind from the beginning.