Owner has unlimited liability and personally guarantees debt.
The company employs functional managers.
Company has evolved from bookkeeper to controller or CFO.
Owner typically has more than 80% of personal wealth tied to business.
Owner plans to use the transfer of the business as the main wealth-creation vehicle.
About 70% of the businesses will not transfer to the next generation.
The company has uncertain access to capital.
Owner strongly prefers to manage without equity partners.
Enterprise value of the company can vary widely from year to year.
(good stuff from the Slee book on Private Capital Markets)
