March 29, 2022

Buying a Business: Through the Eyes of a Buyer Part II

In today’s post, we’re continuing our deep dive into the business sale process and looking at your business through the eyes of a buyer. We’ve already looked at how buyers perceive things like your attitude, expectations, sales, and marketing. But what does the buyer see when they look at your clientele? How do vendor relationships shape their view of your business? What can they learn from your employee teams? You can help facilitate a successful sale by understanding what the buyer is looking at when buying a business. Join me as I explore your clients, vendors, and teams through the buyer’s eyes.
March 22, 2022

The Business Sale Process: Through the Eyes of a Buyer

The business sale process is much more complex than simply deciding to sell, finding a buyer, and closing the deal. Oftentimes, buyers will spend months or even years researching before making the decision to buy a particular business. But what do they see when they look at your business? What can you do to make it as attractive as possible to prospective buyers? Understanding how you and your business are perceived by a potential buyer could help you prepare for a more efficient exit. Over the next few blogs, we’re going to explore the business sale process through the eyes of a buyer.
January 16, 2022

Key Financial Ratios You Need to Know When Selling Your Business

Since the onset of the Covid pandemic, things have been really tough for small business owners. First, there were the shutdowns. Then, there were product and labor shortages. On top of all of this, business owners had to learn to adapt their businesses to accommodate the safety of their clients and to overcome each new obstacle. At this point, there are many of you who are just ready to sell and move on. But, how did your business perform last year? Before you answer that question, you’ll need to understand the key financial ratios that might tell a different story. Join me as I detail the key financial ratios you’ll need to know when selling your business.
December 8, 2021

Understanding Retirement Risk and the Myths Business Owners Believe

At some point, each one of us will retire. This is true of every trade and profession, employee and business owner alike. However, as business owners, there are some risks that you must address. But to do so, you must also be able to differentiate the truth from myth. I recently took a hunting trip to Idaho with some fellow business owners and kept hearing some of the myths around retirement creep into our conversations. That’s why I decided to speak with my dear friend and colleague, Mr. Jeff Jeter CFP®, ChFP®, CEPA® about the risks and myths of retirement. Join me as I share the nuggets of wisdom gleaned from our conversation and uncover the truth about retirement risk and the myths business owners believe.
November 15, 2021

The Legalities of Selling a Business, with Mital Patel

Selling your business is a big deal. There are so many things you have to do to prepare it for a transfer that it can easily become overwhelming. Beyond simply finding a buyer and making a transaction, there are several contracts and agreements that need to be drawn up. Additionally, you must determine the type of sale, what will be included in the sale, and what your role will be once the sale has taken place. To help gain a better understanding of the legalities of selling a business, I sat down with Mital Patel, founder and managing partner of TriAmicus Law, PLLC. As with all entries in this series, I really encourage you to listen to the podcast to get the full extent of our discussion.
November 8, 2021

Selling a Business Independently, with Dr. Grace Yum

There really is no substitute for experience and that’s been the focus of this series. We’re taking time to speak with experts who are actively involved in the business sales process. I recently had the pleasure of speaking with Dr. Grace Yum, a business owner who has just gone through the sale process. In this interview, Dr. Yum shares valuable insights gained from selling her business independently. Therefore, I really encourage you to listen to the full podcast so you’ll hear all she has to say. But until then, you can follow along as I review what selling your business independently is really like.
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