November 19, 2018
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Many business owners believe the act of selling their business is similar to passing the baton in a 400 meter relay: once you're finished running, you get to relax. In reality, most buyers will insist that even though they're now holding the baton, you need to stay on for a transition period. During this time, anywhere from three months to three years or more, you continue to work in your business to help the buyer capitalize on the investment they're making. Each deal is different; however, there is always a timeline that needs to be agreed upon, where your knowledge, experience and expertise is available.
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October 22, 2018
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Run your business like you're going to sell it - Sell your business like you're going to keep it.
Until you can slap a SOLD sign on your business, you need to run it like you're going to keep it. Buyers love consistency and will pay top dollar for it! Any hint of a decrease in the key activities that determine the success of your business will be a red flag to buyers.
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September 17, 2018
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Too often business owners fall into the trap of waiting for the "perfect time to sell." Most often this is described as a time when the market would be willing to pay the highest price for their business. After all - who wants to sell when the economy isn't peaking, when there's a likelihood you can't get top dollar for a business?
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August 20, 2018
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Even the most stoic business owner has emotional ties to their business. Years of hard work, long hours and late nights, giving your business what it needs creates an emotional connection. That emotional connection, in combination with the uncertainties of selling a business, can be a ticket to an emotional roller coaster ride through the sales process.
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July 16, 2018
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When you put your business on the market it's not unusual to receive at least one offer that is much lower than you are willing to consider. Some buyers start low, hoping for a yes, then begin to negotiate price and terms with the seller. While extremely low offers can seem so ridiculous that you may initially feel insulted - they can be the start of a rewarding negotiation.
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June 18, 2018
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Most business owners ready to sell their business have an idea of how much money they would like a buyer to pay them for their business. While having a clear idea of the financial offer you'd be happiest with is important, there are several other dynamics to consider, ensuring the deal you strike with a buyer meets your needs, and theirs.
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May 21, 2018
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Assembling the best professionals to form your Ideal Deal Team is key to successfully navigating the often unpredictable and turbulent journey of selling your business.
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April 16, 2018
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Buyers look for businesses that are already providing value to the owner. As you prepare your business for sale (and you should always be preparing your business for sale!), your most valuable tool is a new pair of glasses - the "Buyer's Glasses."
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March 19, 2018
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For most business owners, their business is their baby. You have great expectations and work hard to ensure your baby will have the best possible future. Regardless of how old your baby is, you lose sleep, nurture them through rough times and celebrate the great times. You buy them expensive items so they can look good and have the latest technology. You become very invested emotionally, and financially, in your business.
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