A Brief Summation of Valuation

The true value of a business is like a stew: each ingredient on its own would not amount to much but, when all the ingredients are added, the sum of the whole is greater than the parts. If you are a business owner, you have probably wondered what the true value of your business is. Valuing your business is a process that considers both tangible assets (inventory, equipment, real estate, etc.) and intangible assets Read More

Breaking the News: When and How to Tell Your Employees You are Selling the Business

While selling a business can be a great financial move for owners, it also has a huge impact on the livelihood of employees. Announcing that you are selling your business, if done incorrectly, can cause shockwaves that can threaten profits and destabilize the work environment. The following 4 tips can help your business ownership transition go smoothly as possible, for yourself and for your employees. 1) Read More

Stupid Is As Stupid Does …Where’s Captain Dan?

Buying a small business can be stressful, so much that otherwise smart people can do stupid things.  With years of experience doing and watching business transactions, I’ve come across some common stupid things that can be avoided. -Don’t make the business seem more profitable than it is. Of course, the Seller wants to get as much as possible out of the business, so he/she will tell you lots of ways you can cut Read More

Your Thoughts are Numbered

There are a few well-known bloggers who swear by their belief that everything presented in a blog has to be reduced to numbered bullet points.  Here are four points I frequently hear when it comes to the logic of numbering your thoughts in a blog post: They say numbering your thoughts make you sound more professional, more like an expert. They say numbering your thoughts make your points easier to remember. Read More

5 Essential Elements of an Effective Exit Plan

Exit plan creation should be a key part of your business plan, no matter whether you’re serving your first customer / client or swiftly approaching retirement. Knowing what you plan to do when you hand the company reins over to someone else allows you to align present business decisions and operational objectives with your long term personal and financial goals. To ensure a successful exit and ultimately safeguard Read More