Due Diligence: Building a Diligence-Ready Company

Most business owners consider themselves to be the final authority on their companies. They believe they know everything there is to know about their companies, all the advantages, nuances, and peculiarities. However, they are in for a rude awakening when a buyer and their advisory team steps in to conduct their due diligence before finalizing […]

Knowing the Numbers of Your Business

You’re a small or medium-sized business owner. You take pride in knowing everything you should about your market, customers, and product performance. Your accountant assures you that, based on past performance, you should continue to bring in a tidy profit, pay your taxes, and maintain a healthy cash flow this year. However, you’re aware that […]

What does Sellability Mean? And How Do I Get to it?

If you’re thinking about selling your business or want to build it to a point where buyers will be eager to take it off your hands, you’ll need to know about the concept of saleability (or sellability). Saleability relates to the extent the business is capable of being sold or marketed. You could be interested […]

I Have a Buyer… What Should I Do?

Congratulations. You followed sound advice and fortified your company’s value by gathering all your valuation data. You are ready to let go of your business and look forward to those ocean sunsets and worry-free enjoyment of your golden years. Or you just might be thinking of staying in the game as a consultant or volunteering […]

Thinking about Testing the Market in 2022?

2022 might just be the perfect opportunity to sell your business. The economy is rebounding, inflation has hiked up business values, and life is tentatively returning to normal. If you’re thinking of selling this year, you should know that to take advantage of beneficial market timing, your company needs to be attractive to the right […]

Fiscal Fitness Checklist: Get Ready for ’22 Now

Running your business requires you to manage dozens of tasks each day, and delivering a quality product or service to your customers is the priority. Some owners become overwhelmed by daily business operations and neglect their financials, which may cause significant problems down the road. Use this list to evaluate your financial fitness and keep […]

Due Diligence: What is It?

Sometimes when thinking about business concepts, it’s helpful to think about consumer concepts.  Due diligence – a term you’ll start to hear a lot when buying or selling a company- is a great example.

Key to a Successful Sale: Understand Value, Get the Right Team

Let’s talk for a moment about your highly successful Widget Business. Why is it successful? You have the exemplary product/service You have the pricing right for the market You have the right team in place to sell it What does this have to do with selling your business? Simple – successfully selling a business is […]

Exit Planning: Learning from Entrepreneurs Who Have Been There

The result of a successful exit often attributes back to proper timing. Ideally, it would help if you started exit planning 3-5 years out from your ideal exit date. Where is this time frame coming from? Consider the economic cycle.  Being proactive in your exit planning allows you to be in control of your destiny […]

Are you Stuck in Neutral?

As people have settled into (my new, least-favorite phrase) the “New Normal,” one of the trends that I’m seeing is companies and management setting things on cruise control. The reasons vary, ranging from “I’m just happy we survived” to focusing on new roles as home-schooling teachers. There’s also a sense that growth and new initiatives […]