June 29, 2018
sell your business to employees using an ESOP

Should You Sell Your Business to Employees? ESOP Pros and Cons

When it comes to transitioning yourself out of your company, one way is to sell your business to employees. A method of doing this is by setting up an ESOP, or an Employee Stock Ownership Plan. Although the implementation can get complicated, ESOPs can offer sellers and employees many benefits over other stock buyouts. Let’s discuss the pros and cons of this particular way to sell your company.
June 13, 2018
What to do with the money after the sale of your business

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 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
What a Business Owner can Expect At the Closing Table of A Business Sale

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 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
Reasons a Buyer Backs Out of the Sale of a Business

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

We’ve reached the point in our Building a Sellable Business series where you’re ready to close on your business sale! Maybe, you’ve even 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, plans change. While some changes can be good, most changes before the sale of your business negatively affect the closing of your business. Changes usually mean that the buyer has changed his mind. So let’s look at 4 common reasons a buyer backs out of the sale of a business. Then, let’s figure out how to handle those disruptions.
March 1, 2018
how to pick a business broker

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.