The Good News and Bad News of Selling Your Business in a Post-Corona World.
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Jim’s Big Dumb Fail

Jim (maybe his real name) left a great corporate job to buy a business. A few of his friends told him he was crazy. The rest of his friends probably thought he was crazy, but just wouldn’t say it. If Jim’s wife thought he was crazy, she didn’t say it. She willingly agreed to move to another state where the business was located. Motivated by a lifelong desire to be an entrepreneur, Jim assumed the business he Read More

No Michael Scotts in a Small Business

Matt (not his real name) wants to buy a business. He is 45 years old and has spent the past twelve years in an executive position with a locally prominent company. Matt has the kind of job and title most people would love to have by the time they reach their mid-40s. But Matt told me he’s ready to chuck corporate life and “become my own boss.” Perhaps you’ve read prior stories I’ve written that sound like Matt’s. Read More

Let the Kids Run It and Send Me a Check

Rhonda (not her real name) is considering selling the business she and her husband started in 1990. After he passed away in 1997, Rhonda assumed full control and hasn’t looked back. Well, she did remarry, but that isn’t germane to this story. Rhonda’s financial advisor asked me to help her evaluate her options. Prior to our meeting, I asked Rhonda for several years of financial history. Although financial data Read More

Valuation Math Can Lead You Astray

I met Ryan (not his real name) about six years ago. He told me then he wanted to sell his manufacturing business in two years when he turned 50. But his company was not likely to generate appreciable exit value. Though driving annual revenue consistently above $10 million, Ryan could never seem to get profit margins above 5%. Since we first met, Ryan has called me every 12 months or so to check in on what was Read More