Reasons for Sale

The reasons for selling a business can be divided into two main categories. The first is a sale that is planned almost from the beginning or by an owner who knows that selling is or should be a planned event.  The second is exactly the opposite – unplanned; the sale is motivated by a specific event such as health, divorce, business crises, etc. However, in between the two major reasons, are a host of unpredictable ones. A seller may... Continue Reading →

You’re Experiencing Burnout, Now What?

A large percentage of business owners are not just owners, but also operators.  Owning a business can be exciting and rewarding, but it is also a tremendous amount of unending work.  In the end, the “buck” stops with you.  With that realization comes a significant amount of stress.  It goes without saying that stress can lead to burnout. A business with a burnt-out owner can spell doom.  Even if you are... Continue Reading →

Invest in Creating Happy Employees & You’ll Be Rewarded

The time, effort and money you invest in keeping your employees happy is well worth it for your bottom line.  Oftentimes business owners fail to consider the fact that unhappy employees can, and do, negatively impact every aspect of their operation. Your employees are your front line in dealing with your customers.  If your employees are not pleased, don’t kid yourself, it shows.  Unhappy employees not only negatively... Continue Reading →

Keys to Improving the Value of Your Company

The first key is to have your accountant take a look at your accounting procedures and make recommendations on how to improve them. He or she may also help in preparing financial projections for the coming year(s). Getting your company’s financial house in order is very important in establishing the value of your firm. The second key is to review the reputation, image, and marketing materials of your company. Certainly, the quality of your... Continue Reading →

The Key Ingredient to Selling Your Company

Business Appraisers, before beginning an assignment, like to know the purpose of the appraisal. Usually the assignment demands “bullet proof” documentation: comparables, EBITDA multiples, projections, discount rates, etc.  Unfortunately, in situations where the purpose of the valuation is to establish a selling price, the business appraiser really doesn’t understand the business elements – or, since these business elements don’t figure... Continue Reading →

Why Do Small Companies Spearhead Innovation?

Increasingly, experts can agree that small companies spearhead innovation.  Of course, this isn’t to state that large companies don’t innovate at all.  But the simple fact is that usually the size and internal bureaucracy of large companies is such that innovation comes at a much, much slower pace.  Since small companies are at the heart of innovation, they often draw the attention of larger companies who need the new products and... Continue Reading →

Around the Web When Selling or Buying A Business

A recent article posted on entitled “How to Close the Deal and When to Walk Away When Buying or Selling a Business” explains the business sale process and how to differentiate between a good deal and a bad deal during the process. Closing a deal involves quite a bit of legwork, including producing a letter of intent, doing due diligence, acquiring financing, signing a purchase agreement, and actually closing the deal.... Continue Reading →

Forget What You’ve Heard, Entrepreneurship is Doing Just Fine

You may have heard that entrepreneurship is in trouble, but the facts don’t support this assertion.  A recent Boston Globe article noted that increasingly large numbers of people are successfully running their own businesses.  Approximately 500,000 new businesses are launched each and every year. When those numbers are viewed in a different light, it becomes clear that entrepreneurship is doing very well.  Half a million... Continue Reading →

The Rise of Women Business Owners

The National Foundation for Women Business Owners (NFWBO) identifies trends relating to the small business climate for women.  New studies examining the role of female entrepreneurs by the NFWBO have yielded some surprising and eye-opening results. A joint IBM, NFWBO study of the top fifty women business owners as well as 10 additional “up-and-coming” business owners reached several interesting conclusions.  The women in the study... Continue Reading →

The Tremendous Importance of Simply Saying, “Hello!”

Far too many customers have grown to expect poor customer service.  Whether its rude employees and customer support or impersonal robotic phone system responses, customers are often shocked when they receive pleasant customer service.  In such a climate, it is clear that businesses that simply treat customers well are taking advantage of a huge opportunity. If you’ve ever personally called a credit card or cable company looking... Continue Reading →