Recap: Transition Planning Panel with the Houston Business Journal

by | Oct 3, 2019 | Route to Profits®, Community Circle

The day began bright and early on Friday, September 27, 2019, with a breakfast panel at the Royal Sonesta, “What’s Next for Your Business: Transition Planning,” sponsored by PKF Texas and hosted by the Houston Business Journal (HBJ).

The HBJ’s Market President and Publisher, Bob Charlet, moderated the panel, which included:

Because not every business sale is the same and has different working components, the panelists shared their knowledge and insights via anecdotes and personal accounts of trials and tribulations from past deals.

The discussion centered around the idea of being prepared ahead of time – even before companies want to think about selling their business. What does “being prepared” mean? Companies can take steps now to get their financial statements, contracts, succession plan, etc. more organized, which will provide a smoother sale process down the road.

After working on various deals, Morrel pointed out the sale process is usually more reactive versus proactive, and he advised companies to start being proactive earlier. There are things companies can be doing now without the fire and urgency of selling the business.

The panelists also spent time discussing how enlisting a team of advisors is a key part to getting prepared. These professionals – accountants, lawyers, private equity investors, valuation analysts, wealth management advisors – can help with:

  • getting the businesses’ financial house in order,
  • providing insight on the true value of the business,
  • formulating a realistic budget,
  • showcasing to a seller how valuable the business is,
  • and more.

Live coverage with more insights from the transition planning panel event can be accessed on PKF Texas’ Twitter thread.

Stay tuned for an upcoming printed piece to be published in a future HBJ issue.

For more information about PKF Texas and the Transaction Advisory Services team, visit


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