When I was in brokerage and met a business owner for the first time I would always ask “how did you get started in this business?”. The vast majority got into the business either by accident or necessity. After reaching Read more…
Jim White is a small business owner. He owns a small, niche manufacturing company. That’s who he is, and that’s what he’s done for 42 years, but recently he’s been thinking about retiring. Jim always thought he would sell the Read more…
Based on your analysis you have a good idea of what buyer type will be interested in acquiring your company. But how will that buyer type value your business? Before we consider that, let’s review the valuation methodologies. The following Read more…
We’ve talked about preparing your Financial Statements as an important step toward getting the best price when you sell a business. Now let’s talk about some other aspects of your business that, with a little preparation, can make your business Read more…
A set of organized, accurate and believable financial statements will have more influence on a buyer than anything you say, do or promise. If you don’t already have a system in place for tracking your company’s finances, begin now to Read more…
You founded your business with 2 financial objectives in mind – to make enough money so that you and your family could lead a decent lifestyle, and to build something of value that you could eventually sell. Depending on Read more…
Bob began his career working for a large telephone company. After several years Bob tired of corporate life and started his own company installing and maintaining telephone systems. He did well and built his company to just over $5 million Read more…
A surprising number of businesses just don’t sell. It’s been estimated that only about 1 in 4 small businesses actually sell. Why is that? Well, first of all, 1 of the 4 would probably never sell for a variety of Read more…
If you increase the value of your business you’ll increase the probability that your company will be one of the 25% of companies that go to market that actually sells. This is a huge deal because if you go from Read more…
The Choice There were 3 decent offers each presenting a different scenario with different money and structures. Jim, with Rob’s help, considered each offer carefully. Since Jim was only 52, he had a lot of productive years left and he Read more…