If you’re new to the world of entrepreneurship, you may not be well-versed in the term customer concentration. But it’s important to learn it before you embark on a journey that may be not only unprofitable but costly. Customer concentration refers to the ratio of customers to revenue share. High customer concentration means only a […]
Burnout can come with a business that's successful as well as one that's failing to grow. The right time to sell is before the syndrome becomes a threat to the effective management of a business. What are the warning signs of burnout? That isolated feeling. The burnt-out owner has been "chief cook and bottle washer" […]
Whether you’re looking to sell your business in the short term or not, all small business owners should be invested in basic business exit planning strategies from the very beginning. An exit plan helps keep your business moving in the right direction, plus helps create a trigger event that signals it’s time for you to […]
By Debbie Allen Updated May 11, 2017 Everyday small business owners (retailers) make drastic mistakes when selling their business and lose thousands of dollars in the process. All their hard work and long-term investment goes down the drain. As entrepreneurs, they had once dreamed of owning their own business and building it to success. They then […]
So you’ve been in Corporate America too long; you can no longer stomach the grind, the stress, and the hours. You’ve been padding your corporation’s pocket, yet your pockets are seemingly empty. Something has to change. You realize that changing companies might provide a different view, but what you really yearn for is a whole […]
A close friend of mine from high school days has been in the process of acquiring a business. He has spent nearly a year agonizing over the pros and cons of various businesses. He has looked at businesses in multiple states, businesses of different size and businesses in a wide array of industries.
Vision is important in any company, large or small. If you have no idea of your end goal, the beginning of your business is likely to take off in the wrong direction. If you haven’t considered how you are going to exit your company in the future, you should – now. The journey to value […]
When you’re looking into selling your business, there are a ton of factors to consider. Proper business valuation is huge – going too high or too low can both have enormous financial consequences if you get it wrong. There’s also the issue of any outstanding debts, expenses or other finances to complete before any sale […]
Definitely. Just as there are good houses to buy and good cars to buy, there are good businesses to buy. But as you likely know, there are also bad ones — lots of bad ones. That’s why it’s important to do your homework when you’re searching for a business to buy and to work with […]