What Are Your Company’s Weaknesses?
Every company has weaknesses; the trick is to fix them. There is a saying that the test of a good company president or CEO is what happens to the company when he or she leaves. Some companies–on paper–may look the same, but one company may be much more valuable due to weaknesses in the other company. Not all problems or weaknesses can be resolved or fixed, but most can be mitigated. Fixing or lessening company... Continue Reading →
Be a Winning Seller: Good Negotiation is the Key
You’ve made the big decision to put your business on the market. Your reasons for selling are valid, carefully-considered, and “good” – the kind that won’t make a prospective buyer shy away. Now, you may tell yourself, comes the fun part. You’ll come up with a price – maybe a little high, but why not? – and let gut instinct (an attribute common to successful business owners) lead the way.
Wait... Continue Reading →
Points to Ponder for Sellers
Who best understands my business?
When interviewing Intermediaries/Business Brokers to represent the sale of your firm, it is important that you discuss your decision process for selecting one. Without this discussion, an Intermediaries/Business Broker can’t respond to a prospective seller’s concerns.
Are there any potential buyers?
When dealing with Intermediaries/Business Broker, it always helps to reveal any possible... Continue Reading →
What Should Be in Your Partnership Agreement
17 Jan What Should Be in Your Partnership Agreement
Posted at 10:13h in Uncategorized by bbpadmin
Partnership agreements are essential business documents, the importance of which is difficult to overstate. No matter whether your business partner is essentially a stranger or a lifelong friend, it is prudent to have a written partnership agreement.
A good partnership agreement clearly outlines all rights and responsibilities and serves as... Continue Reading →
Sell Your Business and Start Your Retirement
11 Jan Sell Your Business and Start Your Retirement
Posted at 09:11h in Uncategorized by bbpadmin
When the day comes to sell your business, it is important that prospective buyers understand why you have made this decision. Having a valid reason why it is time for you to sell can make your business more attractive to prospective buyers. After all, it is only natural that you will have to retire at some point even if the business is... Continue Reading →
Can I Buy a Business With No Collateral
03 Jan Can I Buy a Business With No Collateral
Posted at 09:36h in Uncategorized by bbpadmin
At first glance the idea of buying a business with no collateral may seem impossible, but in reality it can be done. Let’s examine your options. When it comes to achieving this goal, your greatest assets are an open mind and a commitment to hanging in there despite the odds.
The Small Business Association’s 7 (a) Program is Your Friend
One... Continue Reading →
Should You Become a Business Owner?
19 Dec Should You Become a Business Owner?
Posted at 10:00h in Uncategorized by bbpadmin
While being a business owner may in the end not be for everyone, there is no denying the great rewards that come to business owners. So should you buy a business of your own? Let’s take a moment and outline the diverse benefits of owning a business and help you decide whether or not this path is right for you.
Do You Want More Control?
A... Continue Reading →
Three Overlooked Areas to Investigate Before Buying
07 Dec Three Overlooked Areas to Investigate Before Buying
Posted at 16:55h in Uncategorized by bbpadmin
Before you jump in and buy any business, you’ll want to do your due diligence. Buying a business is no time to make assumptions or simply wing it. The only prudent course is to carefully investigate any business before buying, as the consequences of not doing so can in fact be rather dire. Let’s take a quick... Continue Reading →
Legal Mistakes to Avoid When Selling Your Business
16 Nov Legal Mistakes to Avoid When Selling Your Business
Posted at 14:30h in Uncategorized by bbpadmin
A common mistake that many make when preparing to both buy and sell is a business is to overlook all the various legal issues involved. A legal mistake can bring the entire process to a screeching halt or even worst cost you a small fortune. For this reason, it is vital to carefully evaluate the full slate of relevant legalities... Continue Reading →
5 Things to Consider When Transferring Your Business to Family Members
01 Nov 5 Things to Consider When Transferring Your Business to Family Members
Posted at 12:23h in Uncategorized by bbpadmin
Letting go of a business isn’t a process that one should jump into lightly, and that fact holds true even when it comes to your loved ones. Let’s take a look at five of the most important factors to consider when selling or transferring a business to a family member.
#1 The All-Important Buy-Sell Agreement
One of the... Continue Reading →