June 29, 2018

Pros and Cons of Selling Your Business to Employees Using an ESOP

When it comes to transitioning yourself out of your company, one option is selling the business to employees. A method of doing this is by setting up an Employee Stock Ownership Plan (ESOP). Although the implementation can get complicated, an ESOP can offer owners and employees many benefits over other stock buyouts. Let’s dive into the pros and cons of ESOPs as a way to sell your company.
June 13, 2018

SOLD! Now What to Do with The Money After the Sale of Your Business? – Post #37

CONGRATULATIONS, friend! You just sold your business!!! You’ve realized success! Assuming that the statistics from the Exit Planning Institute are true, and 80% of businesses below 50 million dollars in revenue never sell, then you’ve just joined an elite minority of small business owners. Way to go! You’ve just done something that few people have ever done. But what do you do now? If you’ve just received a financial windfall, what do you do with the money after the sale of your business?
June 7, 2018

At the Closing Table of A Business Sale… What You as the Seller Can Expect – Post #36

In our Building a Sellable Business series, both parties have now satisfied. We’re ready to sit down at the closing table. Can you believe it? After a “mere” 35 articles, months of prework, and thousands of hoops jumped through, we’ve reached the actual sale of your business! But what happens next? Where do you go to sign the paperwork, and what can you expect to happen when you get there? Well, let’s dive in and look at what you can expect at the closing table of a business sale.
May 31, 2018

4 Common Reasons a Buyer Backs Out of the Sale of a Business – Post #35

You’re ready to close on your business sale! You’ve scheduled the closing. You’ve got your signature pen in hand, and you’re ready to sign on the dotted line. But out of nowhere, the buyer has changed his mind. So let’s look at four common reasons a buyer backs out of the sale of a business so we can be prepared. Then, let’s figure out how to handle those disruptions.
March 1, 2018

How to Pick a Business Broker or Other Facilitator to Sell Your Business – Post #22

In previous episodes within this series, I’ve talked about core advisory professionals you need on your businesses sales team. However, you will also need more professionals who come into the sales “game” at the key moment of the sale of your business. So today, we’re going to talk about choosing a business broker, an M&A Advisor, or an investment banker.
February 19, 2018

Avoid These Costly Mistakes in the Business Sales Process – Post #21

If you are in the building phase of your business’s life cycle, you may feel like you’re running a marathon. The maximizing of its value takes years. But friends, selling a business can happen within a couple of weeks or months. If you don’t slow things down, mistakes in the business sales process could cost you hundreds of thousands or even millions of dollars. And of course, there are no redos after all is said and done. We’ll discuss common issues that could potentially cost you during at this time. 
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