Buying a business is a scary thing. And there is a direct correlation with the quality of the records and the sale “ability” of the deal. The simple fact is that buyers and their advisers relay upon those books to prove to them what the business is really doing. That being said there are some […]
Business Management Tips
The Emporer’s New Clothes
The dirty little secret of business brokerage is that less than 25% of all the businesses that go to market ever sell. Behind closed doors if you talk to deal makers it generally comes down to 2 things: Unrealistic Sellers and Poor Records. In our world to day we don’t tell fairy tales too much […]
Exit Planning with Willie Wonka
One of my favorite films of all time is Willie Wonka and the Chocolate Factory….the good one…not the Johnny Depp version. The last scene is one I think prudent for entrepreneurs. In it Wonka designates Charlie to take over the factory as Wonka knows he will not run it forever and wishes to continue it […]
Business is Chess…..Strategy and Observations
A couple of days ago i was having a party celebrating my wife’s graduation and one of my guests was my financial planner. The usual chit chat occurred and I shared my views on my market place and the baby boomer dynamic. He smiled a bit and said “on that topic we do need to […]
Part 1: Baby Boomer Business Owners and the Importance of Exit Planning
There is a significant sea change coming in the business ownership landscape. Simply put: The baby boomer age bracket was a generation of entrepreneurs. More businesses were founded and grown by this group born from 1946-1964 than ever before. In fact, according to a recent Axial article (Axial is a leading network that combines business […]