sell a business Tag

A recent white paper by Deloitte explores strengths intrinsic to family business that may give these enterprises a relative advantage during this unusual year. Interestingly, the subject of business culture is once again comes into focus. "Alongside the millions of healthcare professionals and volunteers, some family businesses are being branded as 'heroes' by their local and national communities in the current crisis," the paper states. "This often comes down to the family values that have...

A popular article on LinkedIn this week addresses career change. Personal growth sometimes requires new challenges. "There often comes a point in your career where it’s time to re-evaluate. Things change. You change," writes  business podcaster Jessi Hempel.  "How do you screw up the courage to leave the safety and security of the subject you’ve mastered and start something new?" To examine this question, Hempel interviews Robin Arzon. Arzon left a secure career as a...

When contemplating the sale of a business, an important option to consider is seller financing.  Many potential buyers don’t have the necessary capital or lender resources to pay cash.  Even if they do, they are often reluctant to put such a hefty sum of cash into what, for them, is a new and untried venture. Why the hesitation?  The typical buyer feels that, if the business is really all that it’s “advertised” to be, it should...

When selling a business, you’ll want to consider the different buyer scenarios you’re presented carefully.  The buyer pool for most organizations can be very diverse, and different kinds of buyers pose different implications. It's important to develop an understanding of the parties’ backgrounds and their intent to buy. Of course, will help you find the right fit, but it never hurts to be prepared. These are five of the more common types of prospective buyer...

When the variable of family is added to the equation of selling a business, the situation can get rather messy.  Family usually complicates everything and businesses are, of course, no exception.  Ken McCracken’s recent article “Family business: to sell or not to sell?” 6 questions to help you make the right decision,” seeks to decode the complexities so often associated with family businesses. Consider the Market  The foundation of determining whether or not now is the right...

Corporate Social Responsibility (CSR) is increasingly seen as something that companies of all sizes need to be aware of, so let’s take a closer look at a few of the finer points. There are 4 basic pillars in CSR: the community, the environment, the marketplace and the workplace.  The community pillar of CSR refers to your company’s contribution to the local community; this contribution can take a variety of forms ranging from financial support to personal...

In his recent article in Smart Business entitled, “How to get your business, and yourself, ready for sale,” author Adam Burroughs explores the key points of getting your business ready to sell.  Burroughs points to the truism that, at some point, almost every business owner must sell his or her business.  For this reason, it is critical to think about what it takes to get your business ready to sell.  Simply stated, it is best...

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 First So,...

"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...

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...