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04 Dec Multiples, Demystified
Multiples are tricky things to figure out when you’re valuing a business for sale. Lots of opinions are floating around, most stemming from imperfect information. Uncle Bob’s golf buddy sold his widget store for a million bucks based on a multiple of five! Such “buddy wisdom” can lead you astray. Unrealistic expectations can result in a price point that the market simply won’t support. Your business languishes with little to no buyer activity. First Things...22 Nov Is Your Business Ready to Sell?
“Even if you build a business with zero intention of selling it for a big payday, and even if you never do actually sell, you should still build your business as if you are going to sell it someday. Building a business with this mindset will make the entire operation run more efficiently—you’ll be able to see how your business is trending overall, maintain a cleaner financial picture, and implement better standard operating procedures,” writes Gregory Elfrink...04 Nov Stories We Tell (About Our Brands)
Posted at 17:48h
in Uncategorized
A recent article at First Round discusses the importance of a good story. Narrative is one of the most relatable ways to communicate your identity and value—as a business, as a leader, as a person—to customers, employees, or investors. That communication establishes connection and builds genuine trust and excitement. The article goes into lots of juicy detail. Here is quick summary, with some reflections, of key takeaways and actionable tips. Pass the “Bar Test” Would...
31 Oct Motivational Failure
Posted at 16:12h
in Uncategorized
Some clichés endure for good reasons. Cat posters exhorting us to “hang” in there adorably/annoyingly acknowledge a universal truth: you’re going to mess up. Own it. Learn from it. Use it to grow and teach others. A recent First Round article highlights the importance of stories. What is a compelling example of a time you failed, persevered, and prevailed? As a leader, how can you share that experience with your team in a way that...
18 Oct Millennial Money
New Mexico is moving up in the ranks of states for millennials to live, according to WalletHub—all the way from last place to second to last place! The penultimate spot does not tell the whole story, though. Albuquerque is a pretty great place for millennials, in fact. The low cost of living, proximity to gorgeous outdoor scenery and recreation, and rich culture contribute to a high quality of life. The burgeoning film and tech industries...09 Oct More Love for Santa Fe
Santa Fe and local hospitality businesses are basking in love this week thanks to the voters in Condé Nast Traveler’s 32nd annual Readers’ Choice Awards. Based on survey responses by 600,000 people, The City Different is Number 2 on the list of Best Small Cities in the U.S. (after Charleston, S.C.). Inn of the Five Graces and La Fonda on the Plaza were Numbers 1 and 2 on the list of Best Hotels in the...30 Sep Smart Millennial Retirement Planning
Millennial Retirement Plans (Hashtag!) Last week, the trending hashtag #MillennialRetirementPlans shone a darkly funny light on the despair many millennials feel regarding their financial futures. This generation (born from around 1981 to 1996 depending on the definition) has faced its share of economic challenges. The 2008 crash hit many millennials with the triple whammy of skyrocketed healthcare, student loan debt, and a dearth of paying jobs and wage stagnation. Their average net worth is less...30 Aug ABQ Ranked in Top 10 for Affordable Cities and Cities to Build Wealth
Albuquerque was recently ranked America’s ninth most affordable city by Move.org. The comparison of 75 major U.S. cities considered the following factors: Rent for a 1-bedroom apartment Utilities (electricity, water, etc.) Internet Gasoline Food (groceries plus occasional restaurant meals Rounding out the top ten were El Paso, TX; Lincoln, NE; Toldeo, OH; Wichita, KS; Louisville, KY; Tulsa, OK; Memphis, TN; Lexington, KY; Albuquerque, NM; and Mesa, AZ. The top five most expensive cities were San...23 Aug 11 Reasons to Do Business in Albuquerque
In more #AlbuquerqueAscending news, economic development and media company Livability lists 11 reasons why ABQ is the perfect place to do business. “The Southwestern city is witnessing an entrepreneurial renaissance with the help of startup-friendly culture, excellent universities and a great cultural scene for that ever elusive work-life balance. Albuquerque’s tech scene is so vibrant that even Facebook is setting up an outpost in the area, and the city has seen a nearly 10% increase...19 Aug Tumbleweeds, Beloved Community Resource, on the Market
Tumbleweeds, an early and mid-childhood development magazine loved by parents and educators, is now on the market. Long-time owner Claudette Sutton is ready to move onto her next projects after decades of growing the publication into a staple resource for northern New Mexico families. Listed at $95,000 with a cash flow of $50,000, this home-based business allows for a flexible, part time schedule and engagement with a passionate, grateful community. The publication enjoys an established...14 Aug Albuquerque Ascendant: ABQ Ranks in Top Ten Cities for Economic Growth Potential
Albuquerque ranks in the top ten large-size metro areas in the country for economic development potential, according to site selector publication Business Facilities. It’s a great time to buy a business in Albuquerque—or sell a business and move on to the next Big Thing! Albuquerque was ranked ninth. Topping the list were Atlanta, GA and San Antonio, TX. In a recent Albuquerque Business First article, reporter Collin Krabbe writes: “‘Albuquerque has a foothold in very...08 Aug 4 Ways to Eliminate Customer Concentration and Build Confidence with Prospective Buyers
Posted at 17:03h
in Business Sellers’ Articles
If you are preparing your business for sale, you need to start to think like a buyer. Customer concentration is a red flag to potential buyers. A company with more than 15 percent of its revenue dependent on one client is vulnerable. That client might leave shortly after you sell your business. A buyer will recognize this risk. Follow these tips to minimize risk for the potential buyer and better position your business to sell...
01 Aug Leadership Santa Fe
Posted at 14:26h
in Santa Fe
Leadership Santa Fe helps up-and-coming leaders develop high-level management skills and connects them to key players in Santa Fe’s business and policy spheres. Participants delve into challenges facing the city and actively engage in the process of creating solutions. The program takes place every year between September and May and consists of 12 sessions, about two per month. Alumni include Santa Fe City Manager Erik Litzenberg, Police Chief Andrew Padilla, and multiple City Council members...
