"Have you ever sold (fill in the blank niche business type with impossibly unique characteristics here) a business before?" I used to dislike this question. Today, I welcome it as an opportunity to engage proactively with clients and prospects and sometimes weed out those who might be difficult later. The real answer is complex. On one level, the answer can be "yes," while on a
Read More “Why Experience and Process Matter More Than Industry Specifics in Business Sales”
In the complex and competitive landscape of buying a business, preparation is not just a preliminary step; it's the foundation upon which successful acquisitions are built. For prospective buyers, understanding the importance of thorough preparation is crucial. It not only positions you as a serious contender in a crowded market but also maximizes your chances of acquiring a business that fits you
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Entrepreneurship is a journey filled with decisions, each with its unique set of challenges and rewards. One of the first and most critical decisions an entrepreneur faces is whether to buy an established business or start a new one from scratch. This choice can significantly influence the trajectory of their entrepreneurial career. A SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis p
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There is a crucial concept that every entrepreneur should understand: "It's not what a business makes, it's what it keeps that matters." This idea is at the heart of running a successful business and preparing it for a bright future, whether you're thinking of selling or just want to boost its value. Let's break down some key terms you might see on financial statements and explain how they fit
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In the intricate world of business brokerage and mergers and acquisitions (M&A), confidentiality emerges as a cornerstone, ensuring transactions proceed smoothly and securely. These transactions involve sensitive negotiations and the exchange of critical business information, where the stakes are exceptionally high. Confidentiality safeguards the interests of all parties involved, ensuring that s
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What is My Business Worth? As a Frequently Asked Question, "what is my business worth?" is pretty close to the top of the list. The usual answers are insufficient to give business owners a realistic picture. When people add what I'm about to share with you, they often say "of course..." but all the way up to that point, it's not uncommon to hear business owners say "impossible."
Multiples matter, but there is no single answer to the question when should I start selling my business. Your situation, your business model, yourself, the market, your desired multiple... They all factor into the decision. In this post, we will cover a few of those factors and the consequences of choosing the wrong time - and yes! There are plenty of wrong times to start selling. When Shou
It doesn't much matter what side of a trade you're on - or if you're in the middle. When it comes to getting to the closing table, being honorable in the process is key. You lie and you die... figuratively, of course. The same goes for missing agreed upon deadlines, failure to honor commitments, being careless, or missing a mark and not keeping all parties informed. Business sales are
Misconceptions about the buying process stop and/or slow many otherwise good business owners from changing their lives in a meaningful way. With a little knowledge (and confidence), small business buyers can turn a W2 (working for someone else) into a W2+equity, and parlay their life experiences and passions into something that will bring their family into the world of business ownership, serving
Read More “Three Misconceptions About Buying That You Can Overcome”
