The recent passing of the Economic Aid Act has created a massive financial incentive for buyers to act quickly to acquire a business with a Small Business Administration (“SBA”) bank loan. The SBA will now pay the first three months of principal and interest (up to $9,000 per month) and the buyer will not be Read more
One of the very first steps in the journey to sell your business is to receive a business valuation. Some business owners feel concerned when they receive the results because it ends up being lower than they expected. When this happens, add backs are usually to blame. Add backs are portions of business expenses that Read more
Whether you’re selling your business in 12 years or 12 months, it’s important to be able to show your company’s worth on paper. Having thorough financial records is a key to making a sale. Qualified buyers are going to want to do their due diligence before they make a purchase, and that means they will Read more
You know your business is valuable, but that isn’t enough when you’re selling. The profitability of your business sale is dependent on its value in the eyes of the buyer. While that idea may sound difficult to wrap your head around, it’s easy to comprehend if you break it down into the 10 main indicators Read more
Making the decision to sell your business can be such a relief–it’s tempting to shout it from the rooftops. However, we strongly recommend that you don’t do that! It’s especially important that your employees don’t find out about the sale too soon, as it can lead to chaos. No matter how you break the news, Read more
The fast-paced world of technology is hard to keep up with, but in order to run a successful business, letting go of outdated gadgets is a must. Technology affects every part of our lives. How we communicate, do business, and learn information are all impacted by technology. Buyers want to know that the products or Read more
Company culture can make or break your business’s success. Employees of companies with stronger cultures tend to be motivated workers who stick around long-term. The right company culture attracts top-notch employees and thriving sales, not to mention, a qualified buyer for your business. Culture is defined as “the integrated pattern of human knowledge, belief and Read more
When it comes time to sell a business, many owners underestimate the process. They think it’s something they can take care of on their own and can’t see a need to enlist the help of a professional. However, they are most often rudely awakened when they realize how difficult it is to orchestrate the process Read more
Many business owners formed their companies with the intent to be able to walk away from daily operations without things falling apart. If you take the right approach, you can make the transition much smoother. Keep reading to get our 8 tips for helping your business to function without you. No more hovering. Why hire Read more