Tune Up Your Goals to Buy, Sell or Build Your Business
As we move into spring a good many of us get that restless feeling prompting us to seek change in our lives. For many business owners the change involves selling their business.
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Insights
Better Hiring, Better Business: Getting the Right People on the Bus
Hiring the right people for your business is hard. And often, costly. But having the wrong person in a job costs a lot more. The real cost of a bad hire depends on what you take into account.
Read MoreHow to Get More and Spend Less on Lawyers When You Buy a Business
Buying a business? Use the right lawyer at the right time. Even Thomas Jefferson, a lawyer himself, said that "It is the trade of lawyers to question everything, yield nothing, and talk by the hour." I speak to a lawyer every day. And it doesn’t cost me anything. He has the office next to mine!
Read MoreIn Buying or Selling a Business, Have Your Lawyers Protect Without Doing Harm
As far as grammar goes, "lawyer" is just a noun. In practice, though, the word comes with heavy baggage and associations that go way back in time, as seen in this quote in Voyager, by Diane Gabaldon.
Read MoreThe Truth, the Whole Truth and Nothing But the Truth: Buyers and Sellers Hurt Themselves When They Lie to Business Brokers
Buyers and sellers sometimes overstate, understate or "forget" to state. Like teachers and the proverbial "dog ate my homework" cover story, seasoned business brokers have also heard it all. Only our tall-tale tellers are taller. And they often don’t realize what they’re telling us is untrue.
Read MoreMinimize Risk – Keep Pace with Changes That Will Affect Your Business
Much of our success as business owners and buyers depends upon our ability to anticipate changes that will affect our business. Failing to do so can cost us dearly. When we correctly forecast the shifts and trends, we are able to see and act on great opportunities. I have done both.
Read MoreFuture of the Employees with New Ownership
Much of a business’s profitability comes from the contributions of its employees. In fact, usually client relationships are with the individual employee rather than with the owner, the brand or the firm. As a consequence, it is important to remember that the business would not be worth the asking price if the staff were not part of the package.
Read MoreTop 10 Tips to Sell Your Business and Not Leave Money On the Table
Business owners will be selling into a very competitive marketplace, which means it's likely that only the most attractive and well-prepared businesses will sell for what they're worth. You'll want your business to be one of them. Here are our top 10 tips to sell your business AND protect its value, increase your personal wealth and reduce the taxes you will need to pay on the proceeds.
Read MoreManaging Risk and Reward – Why Use a Business Broker VS a Realtor When Selling Your Business
Few realtors are business brokers, but a large number of business brokers are realtors. It's an important distinction—especially if you want to successfully sell your business.
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The Process of Selling a Business