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Selling a Business Factsheets
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Business owners often comment that no one in their business is as passionate or committed to the business as they are. On some levels this is true. It can also be symptomatic of people not being properly engaged in the business. Building accountability and responsibility in the business will increase that level of engagement....More
Every business owner needs to develop an exit strategy and you need to start working toward that from the very first day you are in business. It's the tiny steps you take on daily basis that add up over the years and will eventually liberate you from your business....More
The main thing to keep in mind when selling a business is the same thing you need to keep in mind with whatever you are selling - what is the buyer looking for? You get nowhere when you focus on what you want from your buyer; but you can get what you want if you focus on what your buyer might want from you. Here we outline a strategy on how to get the best price for your business....More
You’ve worked hard to build a strong business, driving it from the front. Although you’ve expanded and strengthened the team, you still do many critical tasks yourself. The business is a major investment and you can’t leave it entirely to others to run. But what happens when you want to leave your business? Here we outline some strategies on how to move out of an owner-operated business....More
It is important for business owners who intend selling in the future to understand the motivations of prospective purchasers and the dynamics of the markets in which they operate. This article explains the different types prospective purchasers - public companies, private equity funds, medium or large private companies and private investors....More
Keeping the lifeblood flowing is essential to providing you with an ongoing income ensuring the business is a highly valuable and saleable asset. Here are some tips on how to prepare yourself to exit your business....More
Your intuitive knowledge is often the 'gold' in your business. It provides the differentiation and quality around what you do. The more 'gold' you are able to get out of your head and into your business' systems and processes the more the business will be worth, the more the business can thrive without you and the more freedom and money you will have. Here we discuss tips on how to transfer your knowledge from you to the business....More
There are many reasons to use a business broker when selling your business. The most basic reason is they are in the business of selling businesses. They will market your business and help to get prospective buyers to look at your deal. Here we outline the role of the business broker in the business sales process....More
Protecting your business and assets against the dreaded six D’s of an unplanned business exit can give whole new meaning to the term “Disaster Management”. Familiarize yourself with the six D’s of an unplanned business exit: debt, death, disability, divorce, departure and disaster....More
If you are considering sale or transfer of your business you need to have established your own idea of the value of your business. It essentially means looking at your business as a dispassionate investor or buyer instead of the emotionally committed owner. Here we outline the basic principles to consider when establishing a value for your business....More
A well crafted exit plan is a business essential, and something that owners should be thinking about from the day they open their doors. But too often, owners aren't aware of more rewarding and remunerative exit strategies than the one they've chosen, resulting in unsatisfactory sales. Here we outline strategies that can be used to exit a business....More
There are several exit strategies for businesses. Some are planned by successful business owners to make more money out of the company; others are due to circumstances over which there is no control, such as the death of the owner, ill health, disability, departure, or divorce proceedings. Here we discuss the various exit strategies of business....More
Have you considered the impact your death, disability, retirement, or even divorce could have on your small business? You need to put your priorities into perspective by protecting yourself and your business with a succession plan. A business succession plan is what you need to ensure that your business has a happy ending by remaining secure, regardless of what may happen in the future....More
Once you’ve decided to sell and initiate the sale process, one early dilemma you may face is who should you tell? …And when? …And what should you say? Here we outline ways to tell your team and when....More
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