Tracking Your Business Perks
Business owners take any number of perks from their business, from the more standard items like auto expenses, memberships, and insurance plans to extras like entertainment, vacations, or an additional family member on the books. Perks are a way for owners to be further compensated for their hard work. However, these perks can also complicate […]
Should a Buyer Overpay to Close a Deal?
As a valuation expert I often get asked, ‘should I overpay in order to close the deal?’ One of the main things I ask anyone asking this question is to consider the opportunity cost of not closing the deal. Being an expert in valuation I never want to say that valuation is not always the […]
When is the Right Time to Plan the Sale of Your Business
If you are a business owner, at some point you have likely asked yourself, “I wonder how much my business is worth.” Perhaps you’re considering selling, thinking about estate planning, or maybe you’re just curious if your business strategy is adding value. We’re seeing that many sellers start reaching out to their trusted advisors such […]
Buyers Like Big Fish In Small Ponds
Some business owners worry that a niche will limit their opportunities and they’ll miss sales. But a niche can often be the key to growth. What’s more, it can increase your overall business value. Niches are attractive because it’s much easier to be #1 or #2 in a smaller, niche market. Being number one has […]
Entrepreneurs Really Do Think Of Business As Their Baby
Many business owners say selling their business feels like giving a child up for adoption. As it turns out, that’s not just a metaphor. Research shows entrepreneurs really do think of their business as a kid. Researchers found parallel brain activity between owners thinking about their business and parents thinking about their kids. In either case, similar areas of […]
Buyer’s Top Focus Is Employee Team
Employees. Finding them. Keeping them. It’s on everyone’s mind right now. And for the company or person who buys your business, it just may be their number one concern. In the latest IBBA and M&A Source Market Pulse Report, a quarterly survey of M&A advisors, respondents indicated that employees were buyers’ number one due diligence […]
Retention Raises Business Value, Especially Now
“To win in the marketplace, you must first win in the workplace.” Those words of Doug Conant, business leader and former CEO of Campbell Soup Company, ring particularly true today. The talent market was tight before the pandemic, but now we’re in a critical state. Finding employees, and keeping them, is a challenge for everyone. […]
The Happiest Business Owners Know What’s Next
I recently came across Bo Burlingham, the former executive editor for Inc. magazine and author of several books, including Finish Big: How Great Entrepreneurs Exit Their Companies on Top. What I learned from his book is many business owners are unhappy after selling their companies. It doesn’t really matter how much someone got for their business – some sellers are delighted while others […]
What Happens to Employees After I sell?
Business owners often come to us concerned about employee jobs and retention issues after a sale. They worry that selling their business will lead to job losses if certain positions become redundant. However, buyers today are often just as focused on retention issues. Your experienced talent can be a key value driver, and buyers want to make sure these people stick around. Your […]
Know the 3 Types of Business Buyers and What Motivates Them
When selling your business, you may receive offers from three kinds of buyers: strategic, financial, and individual. Here’s a look at the most common buyers and where their motivations lie. Strategic buyer: The strategic buyer is a company that is looking to grow by acquiring another business that has synergies with its own. The idea is […]
