Every owner knows that the financial situation of his/her business is the heart-and-soul of the operation. Keeping sloppy books can not only foul up the operation, it can mean disaster when it comes time to selling your business. When meeting with prospective clients, we often tell business owners to “clean it up.” Clean up the [...]
As the traditional saying goes, “There are deal makers and deal breakers.” Having the right group of business advisors is critical to consummating a successful deal. Hire the right group of business advisors. This begins with an experienced professional business broker. Next comes a trusted attorney who has experience in deal-making. The best attorney is [...]
This is a question most business owners ask themselves - should they sell their business themselves, or hire a professional business broker. We were recently contacted by an owner who was concerned about confidentiality, and who wanted to save on commission fees. So he decided to try to sell his business himself. After eight unsuccessful [...]
Few business owners have an accurate idea of the value of their business. More than half the time, business owners set asking prices that are unrealistically high, and some set prices that are too low. Whether you think your business is worth $2 million or $20 million, you need an expert opinion for reference purposes [...]
If you are thinking about buying a business, you must ask yourself some important questions, such as: Why do I want to be an owner? What types of activities do I like? What lifestyle is important for me? You’ll also want to be sure to include your family as part of the assessment. Consider the [...]
Taking the proper steps to plan a successful exit strategy can significantly improve the likelihood of a successful sale. No matter how secure you are in your business, no matter how satisfied, no matter how you expect to go on forever, you have to be constantly planning for the day you will no longer own [...]
When it is time to sell your business, you will want to engage the services of a trained, experienced business broker to market your business to qualified buyers, and to oversee the transaction to ensure that it goes smoothly. One of the most important considerations when choosing a business broker is whether they can sell [...]
We once had a $7 million company that was not sellable. Even though this company was making $2.5 million profit a year for the owner, we had to tell the owner that we couldn’t sell his business. What he had was a profitable job with 25 assistants. This particular business was in existence for 15 years. [...]
We find that a lot of business owners thinking of selling their business aren't as informed as they should be about the realities of selling a business. So we work hard to teach our clients and work with them to better understand how to build salable businesses. For this post, we put together the 3 [...]
So, you have a great business that you’ve invested your heart and soul in, and now for whatever reason, it is time to move on. You have kept your eye on the EXIT and have done all the right things. At this point, business owners want to know: how do you determine the value of [...]
Just fill out the form below to receive our monthly insights:
Our book can teach you how to plan now to maximize the sale price of your business.
Deal Killers is a practical guide for current and future business owners who will, at some point, consider the sale of their business.
