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exit plan Tagged Articles
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Why Dr Jekyll would not be a good business buyer
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| We're all familiar with the story about Dr. Jekyll and Mr. Hyde; the person with two completely different personalities. Just as there are different types of buyers with different motivations, there are also buyers with different types of personalities. If you're planning on buying a business or if you own a business that you want to sell, here are some Dr. Jekyll "traits" that would discourage a seller revealing too much information about their business. |
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Thinking of buying or selling your business in the New Year, then start with your life plan
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| This article is the second in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Financial Plan?
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| This article is the third in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Business Plan?
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| This article is the fourth in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Sales and Marketing plan?
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| This article is the fifth in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Communication Plan?
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| This article is the sixth in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Management Plan?
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| This article is the seventh in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Productivity Plan?
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| This article is the eighth in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Technology Plan?
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| This article is the ninth in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Performance Plan?
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| This article is the tenth in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Disaster Recovery Plan
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| This article is the eleventh in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Exit Plan?
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| This article is the twelfth in a set of 13 articles that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Thinking of buying or selling your business in the New Year, how is your Transition Plan?
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| This article is the thirteenth and final article that collectively talks about 12 different plans to manage and operate a business. Why so much planning? Many business owners operate their business with the idea to earn as much as they can and pay as little tax as possible. This means selling the business is only considered when the owner is worn out and no longer has the motivation to maximize the performance and therefore purchase price they will receive. However, if this series of plans were recognized and executed on a consistent basis, not only would the business be available to sell as it’s in its best condition, but also allow the business owner an easier and more positive environment in which to own and operate the business; to be benefit to employees, suppliers, lenders and of course, the owner. |
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Exiting Your Company Gracefully
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| Since you own a business or plan on having one in the near future, you have an exit strategy or plan, right? Your answer is probably “No”, which is typical for many people in their first venture of working for themselves. Every owner will eventually exit their business… even if they run it until they die. But then what? |
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10 things to expect from your business intermediary
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| Buying or selling a business comes with personal emotional and financial risk as well as the complexities of finance, accounting, tax, negotiation and legal items. Having a professional agent or intermediary to help “quarterback” and manage the variables is good business. Here are some attributes to look in the intermediary that you choose. |
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11 reasons to reject the recession and grow your business
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| Watching CNN, CNBC, MSNBC and the other media you keep hearing about the “green shoots” in the economy. This can be seen with things like the Federal Stimulus program beginning to gain momentum, clear direction with the resolution to the bankruptcies of GM and Chrysler, the level of fear about the economy subsiding, housing sales starting to stabilize and unemployment stabilizing. So it’s time to put the recession behind us and get on with it. |
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5 guaranteed ways not to sell your business
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| Selling a business is rarely a simple and straight forward process. One of the biggest mistakes I’ve found is that the seller doesn’t put themselves in the shoes of the other parties be it the buyer, lender, landlord, employees, franchisor or whoever. This article outlines 5 ways a business will NOT sell their business no matter how hard they try. |
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5 more guaranteed ways NOT to sell your business
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| Selling a profitable and attractive business is always a complex process. If you own a business and wish to sell, make sure you understand that what you say and do will affect the outcome. This is the second of three articles. The first is called “5 guaranteed ways not to sell your business.” The third is called “5 things to avoid when trying to sell your business.” |
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5 things to consider if selling your business
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| Selling a business requires not only preparing the business for sale, but also what you do as the owner. The following are 8 tips for you to consider if you want to successfully sell your business. |
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5 tips to use when selling your business
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| Selling a business is rarely a simple and straight forward process. One of the biggest mistakes I’ve found is that the seller doesn’t put themselves in the shoes of the other parties be it the buyer, lender, landlord, employees, franchisor or whoever. This article outlines 5 suggestions for a seller to use when approaching the way to sell their business. |
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5 traits of a successful entrepreneur
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| Entrepreneurs come in all shapes and sizes including diverse social, economic and education backgrounds. There is no “guaranteed” path to being a successful entrepreneur but this article suggests there are five traits they generally have in common. |
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6 questions to answer bluntly to find out if your business is in a crisis
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| Is owning and operating your business in this current economic climate getting you down? Not sure what your next steps should be? Not sure if you have options? The first thing is to know where you and your business currently stand; which is the purpose of this article. Once you know that answer, dust off your business plan, refresh it and review your next steps from an informed position. |
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8 tips to consider when selling your business
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| If you are planning on selling your business and your motivation is high, the following tips may help you. Be careful that your desire to sell your business does not come at the expense of making a decision too quickly or indeed being pressured into something you may not normally consider. |
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Caveat Emptor – Let the “seller” beware
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| Selling any business is rarely an easy and straightforward process. There are many things to contend with such as employees, customers, landlords, lenders, suppliers and may be others such as a franchisor etc. However, there is also unknown an opportunist that may be interested in your business and it’s important you know about them. The Latin phrase, Caveat Emptor normally applies in the law that a buyer needs to be careful before they make a final purchase decision. The same applies in this case, Let the “Seller” beware before they accept an offer to sell their business. |
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Eight reasons a business does not sell
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| Selling a business contains many moving parts. It’s not just the buyer(s) but also the family and friends, employees, landlord, suppliers, lenders and many others that demand attention or require working with. |
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Is business ownership right for you?
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| Business ownership is an option many refugees from Corporate America are considering. Unemployment is high and growing so owning your own business to control your future is a great option. But where do you start? This article covers some suggestions to get you started. |
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Seven growth industries to consider if you are starting a business
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| If you are planning on starting or buying a business, it makes sense to consider a business in a growth industry. This article outlines seven industries that are doing well, despite the recession. |
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Starting a business...let's start with you
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| If you're buying a franchise, starting a new business or buying an existing business it's difficult to know where to start. This article suggests you start with yourself. Read on to find out more.
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Starting a business…Look before you leap...no really!
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| Are you a "forced entrepreneur?" Just in case you were wondering, a "forced entrepreneur" is someone that's been happily working in Corporate America until that pink slip arrived. So you're highly skilled, highly motivated and thought you would easily get a job somewhere else...but you're not sure that's what you want to do? Perhaps becoming an entrepreneur is where you would really like to go but are not sure where to start. This article helps address that dilemma for you. |
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Starting a business…what are my options?
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| This article discusses the options available to a new entrepreneur planning on entering business ownership. It explains a new entrepreneur has three options and how to consider which option is best for their situation. |
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Starting a business...what options are available?
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| Over the last 2 years, Corporate America has not been kind to it's employees. Perhaps that's the wrong way to look at it. Maybe a better approach is that we only let things happen to us if we don't take action. Perhaps moving into business ownership is an action you need to take but are not sure where to start? This article suggests some options. The rest is up to you. |
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Successfully sell your business...to the right buyer
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| If you plan on selling your business, it will help you to understand the different types of buyer. Each buyer who inquires will have their own unique reason to want to buy. Let’s find out what’s important to each type so you are better prepared. |
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The Power of Seller Finance to sell your business
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| Selling a business comes with many challenges. The number one reason most transactions don’t close after a buyer and seller have “negotiated” a deal is that the landlord cannot come to terms with the seller and/or buyer.
The number two reason is that finance is not available.
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Why entrepreneurs adjust their thinking when business failure is not an option
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| A true entrepreneur only sees opportunities and the chance to make a lot of money. In a down economy they see it as the time to build greater knowledge, strength and resources to be ready for the inevitable upturn in the economy. However, we if we are not wired like the true entrepreneur we need to remind ourselves of what it takes to keep going and get to the next level. |
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4 personality traits to watch when selling your business
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| Just as there are different sellers with different motivations, there are also buyers with different types of needs and personalities. If you’re the seller of a business or looking to buy, understanding these different personality types may help you be more successful. |
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9 strategies to successfully sell your business
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| To successfully sell your business, there are 9 important areas to consider before selling. They range from creating a team to support and help, goals to achieve, tax responsibilities, income necessary, different legal matters to consider, etc. |
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5 tips to successfully sell your business
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| Here are 5 helpful tips to consider when you're thinking of selling your business. There are many factors involved and things to think about because they can easily go overlooked. These tips will help you get on your way to successfully selling your business. |
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Avoid these 5 mistakes when trying to sell your business
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| Often times little things can get in the way of selling your business- things we don't think about or have little time to think about. Avoiding these simple mistakes can help in the process of being successful when selling your business. |
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Understand your tax position before selling your business
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| It is important to know and understand where you stand with your taxes- your tax position, especially when you're thinking of selling your business. These are a few steps to ensure you know your tax position and are able and ready to sell your business. |
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What are my options if I cannot sell my business?
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| If you experience difficulty selling your business, there are options available to you. It is important to take care of your lease if applicable, assess your assets and see what you can do to get the best price for your business and work on your inventory. This article goes over these steps and more to help you when you find you cannot sell your business. |
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What can I do if I cannot sell my business?
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| There are many things you can do if you cannot sell your business. This article outlines a few, like selling any excess items for cash on eBay or Craistlist, selling your business with assets in place or getting an equipment appraisal to value your assets. All of these and more are options if you find you cannot sell your business. |
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If I am thinking of selling my business, where do I start?
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| Knowing where to start when selling your business can be hard to figure out. When selling your business, it’s important to consider a few things first: what assets come with the business? What fixtures, furniture and equipment are included and how is the inventory? Asking yourself these questions and addressing them first can ensure success when selling your business. This article explains each of these in greater detail to help when figuring out where to start when selling your business. |
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Why an appraisal is critical to a seller when selling their business
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| When trying to sell your business, getting an appraisal is beneficial for a number of reasons. Understanding what assets are part of the sale, removing any personal items that aren’t for sale and deciding the worth of your business with a professional ensures success when trying to sell your business. This article outlines the benefits of an appraisal and why it is critical when selling your business. |
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Benefits of Seller Finance when selling your business
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| There are various reasons why it is important to consider seller finance when buying or selling your business. There are upsides and downsides to seller finance and both are worthwhile knowing. This article outlines both, and shows that seller finance can make a big difference in the end. |
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5 alternatives to Seller Finance when selling your business
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| There are many things for both the buyer and seller to consider when selling or buying a business. The five options in this article deal with seller finance and will help ensure success when dealing with your business. Some topics include: sellers credit, earnings, inventory and real estate. |
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5 more seller finance options to consider when selling your business
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| This article offers five more reasons to use seller finance when selling your business. These options are less known but as effective in ensuring success when making a business transaction. A few options include license agreements, consulting agreements and different kinds of insurance. |
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How a business transition plan enhances selling your business
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| One successful way a business owner can start to sell their business is to create and execute a transition plan. Such a plan defines the needs of the business owner and then helps them to move towards their individual outcome. Starting here ensures success when a business owner decides to sell their business. |
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6 questions to ask when selling or buying your business
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| When thinking of selling your business, there are two things a buyer is looking for to ensure success: cash flow and potential. Once these are taken care of, there are six questions to consider that will help the present business. Looking into these questions and understanding them will ensure success when buying and selling a business. |
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Why Develop An Exit Plan?
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| This article discusses the importance of a well thought out exit plan and how its important to have an exit strategy when you start or purchase a business. It will save you time, stress and money down the road! |
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5 tips when selling your business
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| A business for sale is similar to a house for sale in some respects but very different in others. Some helpful tips to consider when selling your business include: considering commercial real estate, how helpful a team of advisers could be in your journey to sell your business, what assets there are and that the value of all things included in the business are properly valued. |
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Ethical Expectation You Should Expect From Your Business Broker
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| Some business brokers belong to certain associations that have a code of ethics for brokers to follow. These, along with their own code of ethics, help ensure business brokers are of value to a business seller and buyer. A code of ethics ensures that a business broker puts the needs of the client before their own when making a business transaction. |
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Does your Accountant provide value, or are they just a cost?
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| Accountants are people who do the books, file tax returns and generally fulfill a necessity of life that most business owners would prefer to do with out! Well that is the case the majority of the time, however there are professionals out there who offer services that can really enhance your business’ wellbeing, and as a result your wealth. This brief article looks at some of the areas you could be looking at. |
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Your Profitability is Determined by the Customers you Keep
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| We've all heard the adage "not all business is good business". With that being said, we are all trying to keep cash flow robust and are challenged to turn any business away. So what can be done in situations where we know the business is not good for long-term profitability and will demand the continued commitment of precious resources? |
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Understanding Purchase Price Allocation when buying and selling a business
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| The need to understand what and how purchase price allocation works helps when buying or selling a business because it affects both the buyer and the seller. This article outlines purchase price allocation and in what ways in effects a buyer and seller of a business. |
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Ready, Aim, EXIT! Why Exiting Planning NOW Will Benefit Your NOW
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| Exit planning is an integral part of a successful, comprehensive business plan. But most business owners are so busy growing their business that the last thing they stop to consider is their Exit Strategy. If you really want to build your company to be all that it can be and more, you need to establish right up front what you’re going for and what it means to you when you get there. |
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Strategic Exit Planning and Strategic Tax Planning to Save Income Taxes
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| Your partner, Uncle Sam, through the federal income tax and his State and Local Tax buddies (lovingly called your “Tax Partners”) are excited about getting their share of your business profits (and salary income) right about now. If you are like most business owners you are focused on legally reducing your contribution through strategic tax planning and strategic planning to your Tax Partners this year. If you are like the exceptional few business owners, you are doing your best to look at how you will reduce your payments to your Tax Partners over your life and the life of your business through strategic exit planning and strategic tax planning. |
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Top Ten List Survive the Big Boomer Business Bust
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| In the next decade half of all small and medium size business owners will exit their business. Unfortunately, only about 20% will be succesful in selling their businesses. This article will explain some ways to improve your chances of selling your company for big bucks! |
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