There are many emotional issues that can make the process of selling a business very stressful. The negotiations over the price is usually the big one, but there are many others. Sellers are usually very concerned about what will happen to their employees. Then there is the whole idea of… Read More »Tip #061 Selling a business can be an emotional rollercoaster!
Business owners must be aware that the process of selling a business is complex and can take time. Each business is unique and there are multiple steps involved, especially if outside lender financing is involved. A business with strong cash flow tends to sell faster, while clean and straightforward financials… Read More »Tip #060 Why does it take so long to sell a business?
It can be very discouraging when a buyer suddenly “disappears” from continuing the purchase of a business. It happens all the time, and in many cases the seller never really finds out why. The buyer could have a legitimate reason or have just gotten cold feet. But also, the buyer… Read More »Tip #059 Why do Buyers suddenly pull out of a deal?
Many business owners are afraid to sell their business because they don’t know what they will do afterward. This can be a big mistake because they aren’t motivated to continue growing their company, jeopardizing its value when they do sell. Business owners need to seriously explore the many opportunities that… Read More »Tip #058 “What will I do if I sell the business?”
It’s not unusual for the children of a business owner to not have any interest in the family business. It can be for many reasons — outdated business, want to move out of town, disagreements with the business philosophy of the parents or just plain not interested. If this is… Read More »Tip #057: Kid(s) don’t want to take over the business?
One of the saddest and most difficult situations for a business is when the owner becomes too ill to effectively manage the business. Unfortunately, because many owners haven’t done proper planning, they try to continue to run their business while coping with their illness. The owner suffers and the business… Read More »Tip #056 Health Issues Can’t Be Ignored!
OK, everyone has heard about a few huge deals for technology companies over the years. But business owners rarely receive a premium for their business. Buyers will look at all the important factors such as cash flow, key employees in place, profit margins and prospects for future growth, to name… Read More »Tip #052 Someone is Going to Throw Money at Your Business? Really?
Business owners can be confronted with many yes or no decisions every day. Some are small decisions with not much impact, but some are critical decisions that can affect the direction of the company, such as adding a new line of products or a new service. And many times, it… Read More »Tip #51 The Power of “NO”
Most businesses will lose a certain amount of customers over time. This attrition can be caused by anything from customers who are unhappy to customers moving away. The value of a business has a lot to do with the expectations of a buyer being able to maintain the current revenue levels (in… Read More »Tip #050 Marketing programs to replace normal attrition.
Buyers are always interested to know if there are well-trained key employees that will stay with a new owner of the business. That expertise within the company’s operations can be very important in the transaction and future performance. Key employees can include top managers, department heads and other long-time employees… Read More »Tip #049 Key employees in place can be very important in the sale of a business!