2011 is winding down and we wanted to take a moment to wish you Happy Holidays! If you are like us, you are still scrambling for some last minute gifts and wondering how you are going to get to Costco in time to buy food for parties. As you run around, we hope you take […]
“I don’t have monthly financial statements. I don’t have an operations manual! Employee job descriptions… ha! It’s all in my brain.” If you are trying to sell your business and any of the above statements ring true, you desperately need to seek help. The value of your business may have just dropped dramatically, and you […]
Hard-nosed, Extreme Negotiation Tactics Rarely Work Well As a buyer, understanding what you want the deal to look like when all is said and done is important. Be cognizant of how much flexibility you have and where you can give and take. Hitting the seller with unrealistic and extreme demands may just hinder your relationship […]
We see a few deals every year that end up being more challenging than they should have been. The issue is usually a lack of due diligence. Did the seller tell you everything? Due diligence is all about discovery. Is there something hidden in the financials? Can the seller verify that the revenue and cash […]
Business Valuations are Critical You need to know the value of your business and understand what variables influence value. Considering that your business could be the largest asset you own, wouldn’t it make sense to educate yourself about business valuations? Is there enough value in the business to retire? Have you cooked the books too […]
Prospective buyers are looking for revenue, consistency and growth when looking at businesses to buy. Last minute changes, especially major changes, can impact the value of the business or make the buyer nervous about the unknown consequences. The buyer could also leap to an unfounded conclusion about why the owner is selling. Here is an […]
Know who your investors are – Will they stand behind you? The majority of the buyers we see (whether individual or corporate) want to acquire a business as the sole owner. Successful partnerships are rare, let alone successful investor backed buyers. We often see a buyer who claims to have investors that will back them […]
It might seem like common sense, but the accounting in your business needs to be checked by a second set of eyes on a regular basis. Whether it is a mistake or intentional, the math doesn’t always add up. You may have a bookkeeper that does the daily accounting, but having an external accounting firm […]
Buying an existing business is a smart, lower risk proposition when compared to starting a new company from scratch. It is also a good solution for people that don’t have a unique idea or long term, sustainable cash flow to get a new business up and running. This is a message we have been sharing […]
Tax time is looming. As a business owner, it is important to actually FILE your tax returns. This might sound strange to you and it is… we actually have clients that have provided us with three years of tax returns as part of the due diligence process. As the deal progressed and the buyer’s bank […]
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