I want to share a lesson in paranoia. It’s one of the easiest ways to kill a deal. Why? Because it often removes reason and logic from the buying or selling equation. Now I’m not saying there aren’t going to be anxious and nervous moments when buying or selling a business. In fact, I’d be […]
The last couple of months have been really challenging with getting two kids off to college, selling a house, buying a complete gut job house, planning an Apex sales award vacation for 7 couples, working on my deals, and operating a business with 12 other brokers. Needless to say, there’s no way I would be […]
It’s impossible to help people when they are not open and honest. As advisors we need to really understand our client’s situation so that we can develop a successful buy or sell strategy. Building a trusting relationship is critical. In our last post we discussed motivation as a key factor in qualifying Buyers and Sellers […]
Uncovering an individual’s motivations to buy or sell businesses can be extremely challenging because they either want to keep it a secret or they just aren’t sure themselves. One of our main functions as business intermediaries is to qualify potential buyers and sellers and to understand why someone wants to buy or sell. Nobody wants […]
We have worked with hundreds of very successful clients over the years and have been fortunate to participate in successful transitions to new owners. However, there have been a few tough ownership/partnership situations that have made transitions difficult. Partnerships can be a very good way to get into business if documented properly. They can also […]
In Parts One (See Link to Part One) and Two (See Link to Part Two) of this blog series, we explored the importance to the business owner of maximizing both the quantity and quality of the buyer pool for their business. Below is a real life example of how implementation of these concepts culminated into […]
In Part One (See Link to Part One), we discussed the impact on price, terms, and expediency of having multiple buyers simultaneously interested in a business. Dissemination of information about the business to potential buyers was mentioned as part of the process to entice the largest quantity buyers. But this information isn’t intended to only […]
“Hi Joanne. This is Denise. I understand that you might be interested in selling your home. I can help you with that,” said the Realtor when the homeowner answered the phone. “Great! I am interested in selling,” Joanne replied. However, when Denise began to ask for more information, such as the price, address, square footage, […]
Deals can die for many reasons, but “Time” is the worst reason of all! It’s possible to manage, yet also easy to let Time take control. Let’s say I have a buyer, Bob, who is taking his time getting due diligence done. He has a process – no problem. However, as he completes his due […]
Everyone knows that “Cash is King”, right? Cash is critical to a businesses’ survival. But unreported cash can be a problem for a business. There is a tendency for many business owners to hide cash, under report revenue, or exaggerate expenses in order to reduce their tax bill (illegally). Two obvious downsides to doing this, […]
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