The ‘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?…
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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.
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By TomWhen working with business owners who want to sell their business, they often fail to grasp the important of momentum in getting a deal completed. I know they have lots to do each day just running their business.
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By TomWhile containing a lot of humor, article exposes ten timeless “fairy tales” about selling a business. Some of these myths sound reasonable, but experience tells us otherwise. This article will give you unbiased reasoning that will help you separate the truth from fiction.
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By TomFor instance, selling simply because you’re exhausted or can’t stand managing day-to-day operations anymore can drastically reduce the value of your company. But bailing out under other circumstances may prove profitable.
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By TomI read an interesting article about one of the challenging aspects of being a business broker. While successful business are often experts, or at least very knowledgeable about their business and the industry in which they operate, this knowledge often gives them a false sense of their expertise in other areas as well. This leads them, after a few conversations with their peers, and the reading of a few articles or books, to reach a hard-coated conclusion about the price and terms they expect to receive for the sale of their business.
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By adminI was the broker for the owner of a company in a declining industry. Like many other businesses in this industry, this company was experiencing declining revenues – caused by the decline in the overall economy and the long-term trend of this industry.
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By adminPreparation to sell (or exit) your company should be considered as an integral part of your business plan. Exit planners often advise business owners to consider a strategic plan for exiting before starting or even acquiring a business. This may seem premature, but proper transaction execution for the sale of a company takes strategic orchestration. Your financial advisory team should include a Business Broker or M&A Advisor, an Estate Attorney, Transaction Attorney, and a Tax Accountant. As you prepare to sell your company, you should consider the many challenges involved.
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By admin