Finalizing a deal is usually a complex process, and there is a good deal of room for error, misunderstandings, miscalculations, and good old-fashioned wild cards. That is why it is critical to carefully think through the deal process well in advance. In this article, we’re going to explore the top ten steps you can take to avoid wrecking a good deal. Confidentiality – At the top of our “how not to wreck a deal list” is...
Just as people will form judgments and ideas about you as a person based on first impressions, the same holds true for your company. It is always best to put your “best foot forward,” and this is true whether we’re talking about your personal life or business. Periodically, it is prudent for every company to step back and evaluate its initial point of communication with customers and clients. In today’s digitally interconnected world, it is critical...
When buyers are looking to make a purchase, the most important step they can take is to perform due diligence on both the business and the seller. Yet, it is important to note that a large percentage of sellers fail to do their due diligence on buyers. Deals fail all the time. Sadly, this means that all parties lose a tremendous amount of time and effort. Additionally, sellers not only waste time, but often lose money...
Dominating this week’s Albuquerque business news is The Orion Center, a proposed satellite assembling and testing plant. The major multi-million-dollar deal is currently in negotiations between the Theia Group Inc. and the city. Current plans call for the campus hosting 1,000 workers with plans to ultimately grow to 2,500. "The Orion Center has the potential to be a game-changing partnership for our city’s aerospace and tech sector,” Albuquerque Mayor Tim Keller said in a statement last...
K. Srikirishna has a worthwhile read in the Harvard Business Review. Adapted from his book The Art of a Happy Exit – How Smart Entrepreneurs Sell Their Businesses (Harper Business), Srikirishna looks beyond the mechanics of selling your business to what the emotional content of the experience can be (and often isn’t). Anecdotes from high-tech and financial services executives illustrate this piece. At first blush, such "lessons learned" don't seem all that relevant to small business...
Damon Neth is a Professional EOS Implementer of the Entrepreneurial Operating System®. He co-authored a best-selling book entitled X-Formation: Transforming Business Through Interim Executive Leadership. He also has founded five companies and acquired four other companies. Additionally, Damon Neth is an accomplished entrepreneur and a leading EOS® business coach. EOS® is a powerful set of business tools that provide a framework that empowers companies to create a clear vision throughout their entire organization, and in the process, boost the health...
What kinds of insights about selling a business might come from experts at private equity firms? This article includes advice for sellers from industry veteran Lamar Stanley. Stanley is a Director at Gen Cap America, which is a lower middle market private equity firm in Nashville, Tennessee. Since 1988, Gen Cap America (GCA) has made 60+ investments across seven committed private equity funds. Before joining GCA, Stanley was with the Nashville based private-equity strategy group, Diversified...
More than likely, selling your business is one of the biggest decisions of your life. Unless you own a business, it is impossible to understand just how all-encompassing of a process it can be. With that stated, it is important for business owners to step back and seriously reflect on whether or not they are truly ready to sell. The psychological aspects of selling are not trivial. Various aspects must be taken into consideration before...
There are many reasons why small companies are put up for sale. Some of the more common reasons can actually have little to do with the company’s general performance. For example, many small business owners discover that they need to sell for health reasons or personal concerns, such as divorce or partnership issues. While a business downturn or fear of a larger competitor looming on the horizon might prompt many business owners to sell, economic...
A small increase in what you charge for your goods and services can make a tremendous difference to your bottom line. The fact is that many businesses could charge more for their goods and services than they do, but fail to do so. Owners often do not realize the great value of charging just one-percent more. In this article, we’ll explore how charging even slightly more can dramatically impact your business. Let’s consider a hypothetical example. ...
House Bill 11, which was signed into law last Friday, will provide up to $100,000 per qualifying business to help with the hiring and re-hiring of employees. “Thousands of New Mexico businesses will be able to receive assistance through this grant program so they can hire or rehire employees,” said Economic Development Cabinet Secretary Alicia J. Keyes in a press release issued by the Office of the Governor. “Building this new capacity to create jobs is...
Coming in #5 on its list, Ruidoso is a second home destination that should be on your list, states Kiplinger. The personal financial magazine describes the picturesque town nestled in southern New Mexico’s Sierra Blanca mountain range, as "a haven from stifling summer heat in the desert basin below and a wintertime getaway for skiers and snowboarders in the Southwest. June 2020 median listing price: $349,550."...
Once again Travel & Leisure readers singled out the City Different, describing it as an earthy, artsy town with centuries-old adobes, a vibrant gallery scene, memorable dining experiences, and nearby mountains that sate the urges of outdoor enthusiasts....
With its distinctive Spanish pueblo revival-style architectural, a multi-textured history that pre-dates its founding in 1610, and the oldest state capital in the nation, AFAR magazine named Santa Fe as one of the best small cities in the U.S. to visit and live in. The magazine further points out that, according to Resonance’s 2020 study, New Mexico’s capital is also the most Instagrammed small cities in the country....
Conde Nast Traveler's readers distinguished three Northern New Mexico area spas as being among the best in the country, including Ojo Santa Fe Spa Resort, Ojo Caliente Mineral Springs Resort and Spa in Taos County, and the Japanese-inspired spa Ten Thousand Waves in the foothills north of Santa Fe. The Inn of the Five Graces was the 11th best city hotel in the continental U.S. [caption id="attachment_979357" align="alignnone" width="900"] Ojo Santa Fe, courtesy of Melissa Hobdy Smith[/caption]...
