Entrepreneurs in my experience particularly the small Main Street businesses usually have bad financial planning and quite often go all in on get rich quick things like flipping houses etc. Risk, Hedging, diversity of portfolios all are singularly uncommon in my experience. Im not going to drill down on why but take note….2008 hit. It decimated many many Business owners who had either all their money in their business or had bought real estate which collapsed.
Business Management Tips
What role do Attorneys Play in Business Sales in Tampa Florida?
Attorneys can play an important role in business sales in Tampa, Florida by providing legal guidance and representation throughout the transaction process. Here are some specific ways attorneys can assist with business sales: Drafting and reviewing legal documents: Attorneys can draft and review legal documents related to the sale, including purchase agreements, asset purchase agreements, […]
How Should I Sell My Business In Polk County
Selling a business can be a complex process, but here are some general steps you can take to sell your business: Prepare your business for sale: Before you put your business on the market, make sure it is in good shape. This includes organizing your financial records, improving your operations, and addressing any legal or […]
Not every problem is a nail…so not every problem requires a hammer.
I love analogies…they are quaint and often times are a simple way to translate a situation in terms that are clear. There is a cognitive bias written by an American Psychologist, Andrew Maslow. It is known as The law of the instrument, law of the hammer, Maslow’s hammer (or gavel), or golden hammer. Basically it […]
All In or All Out When. The problem of sellers wanting to sell portions of their business.
Sell A portion or Sell It All. The reality and complexity of selling a piece of a business.