Selling Your Business

Chances are you didn’t start your business with a plan in mind to exit or sell your business. But at some point, those thoughts start to creep in. Maybe you get a letter or phone call from a competitor or a consolidator in your industry who is inquiring about potentially buying your company. Perhaps you got some negative health news. Or your daughter who you thought would take over the company told you last weekend that she has no interest? How do you figure out what your business is worth? Should you sell it to your employees, an outsider, or just close up shop? Selling your business (and even talking about selling your business) is one of the most emotional things you’ll ever experience as a business owner.
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How Useful Is A Business Valuation?

If you’ve owned your business for several years, chances are someone at some point has talked to you about a business valuation.  Either someone has asked you directly what your company is worth or the idea of your company’s value has come up in conversation.  The question we address in today’s show is just how valuable is a business valuation?

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How Do I Teach The Next Generation Everything I Know About The Business?

It’s rare that a small business owner wakes up one morning and decides it’s time to transition their business to the next generation.  It’s something they usually think about for a while, likely many years before they are finally ready.  But once they decide they often want it to happen yesterday.  But before the current owner leaves they want to make sure the next generation knows everything they need to know about the business.  So how do you figure out where to start?

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How Do I Avoid Seller’s Remorse With A Deal?

If you’ve ever been involved with the buying or selling of a business, chances are you’ve heard of a term called seller’s remorse.  Even if you haven’t been involved in a deal it’s likely you’ve heard about it or seen it.  And it doesn’t matter how large or small a deal is, it can happen to anyone…even a billionaire.

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How Do I Respond To The Request “Tell Me About Yourself”?

We were recently involved with some mock interviews with local high school students. The goal is to give these 15 and 16 year olds some practice at interviewing for a job. They are asked to complete an application, dress in nicer clothes, and then sit down for a 10-minute interview with some volunteer adults to “interview” for a job in a retail store.

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How Do I Get My Business Ready To Sell?

Is your business ready? If the opportunity presents itself, is your business ready to be sold? Now, that doesn’t mean YOU are ready to sell. It’s a wonderful thing when those two things do align and both you and your business are ready to sell. Unfortunately we often find that too many business owners are ready to sell but their businesses aren’t quite ready yet.