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 […]

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 […]

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 […]

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 […]

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 […]

Economist suggests business owners sell by 2024

Economically speaking, COVID-19 was a “natural disaster.” That’s according to Brian Beaulieu, CEO and chief economist of ITR economics. Beaulieu spoke at the virtual State of M&A conference hosted by Cornerstone Business Services in February, helping business owners and advisors understand the market ahead. Because the current recession was triggered by COVID-19, and not economic factors, we should bounce […]