Place a reasonable price on your business. Since an inflated figure either turns off or slows down potential buyers, rely on your professional service provider to help you arrive at the best "win-win" price. Remember, a transaction will consummate only when a buyer and seller come to reasonable terms. Carry on "business as usual." Don't […]
Throughout my life I’ve seen many different articles on owning your own home. The statistics show that Americans change homes once in every 7 years on average. What fascinates me is not the “how” of this change, but the “why”. It appears that for your typical American, a change of residence is made not because […]
Comparability in businesses is virtually an oxymoron. Every business is different, including franchised businesses. Having owned a franchise personally, I can tell you that although our services were the same as other franchisees, our employees, our clients and our profitability were certainly unique. As you evaluate various businesses for the purpose of acquisition, although there […]
If you’re like many business owners, chances are you’d only consider selling your business if you were coming to a specific financial or life point where you were ready to move on. But in today’s modern business world, most brokers and advisors recommend significant business exit planning from the very beginning, even if you don’t […]
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 […]