I was at a meeting the other day with some colleagues and one of the seasoned veterans was telling a story of a buyer who was very qualified. The gentleman in question had all the degrees in the world and a resume of successive levels of responsibility that indicated he would be a great business […]
Business Management Tips
Understand Reality
Too often in life and business we measure things and never understand the why of them. Statistics are important “tells” but without context and background they can lead one down the wrong path. Selling a business is no different so here are some stats to ponder in your sell process: 1. Less than 20% of […]
10 Questions to Ask a Business Broker When Interviewing them to Sell Your Business
Selling a business is serious stuff and shouldn’t be taken lightly. When only 20% of all businesses listed ever sell who you choose can mean the difference between success and failure. Here are 10 Questions to start with when interviewing your broker: 10 Questions to Ask Your Business Broker before listing with them 1. How […]
How to Buy a Business
When most people think of starting a business, they think of beginning from scratch–developing your own ideas and building the company from the ground up. But starting from scratch presents some distinct disadvantages, including the difficulty of building a customer base, marketing the new business, hiring employees and establishing cash flow…all without a track record […]
Plan To Sell
Most people have a will. Your business needs one too, in the form of an exit plan. Most business owners will not sell voluntarily. Why? Selling a business is not the best way to make money from it. Most small businesses sell for 1-3 times adjusted earnings (larger ones can sell for more). So, if […]