Let’s imagine you want to buy a business and you are deciding between two almost identical companies with one exception, documentation. Business #1, the owner shows you a procedure manual with each process documented to the smallest detail. Business #2, … Continue reading
The answer is… EXIT PLAN. You know you need a Business Plan, Strategic Plan, and Marketing Plans, but have you thought about having an Exit Plan? The primary reason you need an Exit Plan is that someday you are going … Continue reading
If your business is for sale, or you are considering selling it in the near future, let me share with you some advice; don’t try to do it on your own! You could go on-line and list your business for … Continue reading
I talk in my book, How to Prepare Your Business For Sale, about the importance of getting a Certified Business Valuation as a means to help you create the value formula that you watch. I would like to expand on that … Continue reading
The answer is yes, and the formula is simple: Work on the things that drive value in the mind of the buyer! I said simple, not easy. It can be very difficult to see through the eyes of the person … Continue reading
If you own a business with more the than 5 employees and want to sell it in the next 3 to 5 years, you need to be thinking about developing one or more key employees that can run your business … Continue reading
The answer is… IT DEPENDS. The answer is vague but there are many things to consider before that question can be answered. There are some situations that force business owners to sell their business, even if the timing is not … Continue reading
Thinking about selling your business in the next few years? Are you focusing on the right number? I am sure you are watching important financial numbers like… • Sales • Cash flow projections • Quick Ratios … Continue reading
As I began to move my consulting practice toward helping owners who are wanting to sell their business in the next few years. And began doing research for my book “Double or Nothing”, I came across a startling and tragic … Continue reading