Some business owners, when they’re ready to exit their business, try to sell their company themselves. After all, who knows their company better than they do, and could talk about it endlessly? And, how tough can it be to sell a business?
To read the entire blog, click the title above.
By TomThe ability to have multiple buyers compete for the acquisition of a business is in every business owner’s best interest. If you receive an unsolicited offer for your business, you may save a fee, but you have no idea if the offer is a good deal for you. A competitive bidding process (*) is the only way to ensure that you receive the best price and terms for the sale of your business.
To read the entire blog, click the title above.
By TomTwo businesses can look identical, but have very different valuations. We look at 400 different qualitative aspects of the business, and provide a prioritized list of issues to make a better business.
To read the entire blog, click the title above.
By TomSelling your business is a big decision and the process can be overwhelming to those who are unfamiliar with the market. Your first step, after deciding to sell your business, is to hire a business broker to assist you throughout the selling process.
To read the entire blog, click the title above.
By TomI read a very informative article on ExitPromise recently, which addressed these four important topics: “Why Does a Business Need an Employment Agreement”, “Types of Employment Agreements”, “What Must Be Included in an Employment Agreement”, and “Are There Drawbacks?”
To read the entire blog, click the title above.
By TomSBA loans have a reputation for being hard to access, for good reason. SBA loans can be particularly tricky to secure if you’re using that capital to acquire a business. If you’ve never gone through the SBA financing process before, it can be confusing. Heck — it can be confusing even if you have gone through the process before.
To read the entire blog, click the title above.
By TomWhat is Retirement Asset Funding? The use of retirement assets [401K, SEP, IRA] for the cash to fund the purchase a business to operate and grow is known as Retirement Asset Funding.
To read the entire blog, click the title above.
By TomAccording to Tim Barrett of exit-planning company, BluePrints for Business, “exit planning is more than thinking and talking. It is taking the actions necessary to enable you to reach all of your exit objectives. The Exit Planning process we describe in this White Paper was created over 20 years ago, and has been refined by the experience of thousands of owners and their advisors.”
To read the entire blog, click the title above.
By TomThe ‘Perfect Storm’ conjures up a powerful image of being overwhelmed and completely at the mercy of raging forces beyond one’s control. Feelings of desperation, fear and anxiety abound, just hours after sunny skies and smooth waters prevailed. How could things turn so quickly? Could preparation have made a difference? Did the forecast predict this calamity?…
To read the entire blog, click the title above.
By TomMany business owners have worked in and on their companies for so long that their lives have become unbalanced. They spend all their waking hours working, so: (1) they have no outside activities or hobbies, and (2) they can’t imagine themselves no longer working. And, when it’s time to sell (i.e. I’m burned out, my doctor says I’m too stressed from my work, my wife wants us to move closer to the grandkids, etc.), they make excuses for not moving forward with their lives.
To read the entire blog, click the title above.
By Tom