There’s a lot of talk these days about the huge transfer of wealth that’s going to occur over the next 10-15 years as baby boomer business owners decide to take retirement. The SBA says there are 12 million businesses in America owned by baby boomers.  Business brokers, accounting firms and financial planners love to talk about this coming “tsunami”, the theory being as these 12 million owners sell their businesses, Read More

When he called, he got right to the point: “I want to buy a business.” I heard a sense of urgency in his voice. He went on to say “you have businesses to buy, you’re a business broker, right?” I get this call at least once a week, and after talking with scores (maybe hundreds) of would-be business buyers, I’ve realized I need a psychology degree to go along with my advanced business degree. More times than not, the Read More

I get this question all the time….“I’m considering selling my business can you tell how much my it’s worth?” After we talk awhile about the business’ current valuation I usually then hear “what can I do to increase the value of my business?” This second question assumes there are simple things that can be done to enhance business value, akin to the concept of new paint in the living room increasing the value of a Read More

{This blog was originally published in January 2013, but this lesson can never be taught enough. Too often I see the negative results when business owners do not take this advice} They met in the mid-80s while in business school at Vanderbilt. They were assigned to the same study group, so it didn’t take long for them to realize they had complimentary skill sets. Bob (not his real name) was analytical, loved data, Read More

What can you learn about business brokerage from Mickey Mouse, Buzz Lightyear and Snow White? What does running the world’s best theme parks and making great movies have to do with buying or selling a business? Well, a lot, actually. I spent six years with a division of the Walt Disney company in Orlando, primarily focused on development of new businesses. I had the privilege to be involved with the launch and Read More

I have wasted a lot of time in my efforts to be more productive. When the iPad was introduced in 2010, I was an early adopter, manic about using technology to redefine my work flow, to do more and be faster while doing it. Fast forward to today, I’ve realized that more can be less, and less can be more. After having experimented with dozens of productivity apps, I’ve reduced my workflow to just five apps, and I am Read More

“I’m gonna run a marathon thru the Smoky Mountains wearing combat boots.” “Say what?” I said, “that’s impossible.” “And oh,” my son continued, I’ll be carrying a backpack with 35 pounds of sand in it.” Of course, my next question was, “why?” to which he replied, “Dad, the whole idea is to honor through action. ROTC teams throughout the country come together to raise money for scholarship grants to Gold Star Read More

Though happily married for 28 years, I have some memories of my experiences dating. I’d often have friends say “I have somebody you should meet” to which I’d usually say “well, tell me about her.” If the response was “she has potential,” I’d politely decline the opportunity – run for the hills, actually. Potential is a terrible word to use when describing a potential date, and it’s a terrible word to use when Read More

I was reminded this week why business brokers have a bad reputation. I am working on behalf of a successful manufacturing company in the Nashville area that is interested in growth through acquisition. The company retained me several months ago to develop their acquisition strategy, identify possible candidates for acquisition, then work through the process to get a transaction, or two, completed before the end of Read More

There’s a lot of talk these days about the huge transfer of wealth that’s going to occur over the next 5-10 years as baby boomer business owners decide to take retirement. The SBA says there are 12 million businesses in America owned by baby boomers. Business brokers, accounting firms and financial planners love to talk about this coming “tsunami”, the theory being as these 12 million owners sell their businesses, Read More