Selling your business
When selling your business, it is critical to think from a buyers' perspective.
How a potential buyer looks at a business is an evaluation on the basis they can replicate the business model to continue making profits in future years.
Potential buyers will ask about the customer acquisition process. They
Selling your business
We have found through experience that many businesses have reduced the profitability of the business for tax reasons and, if this is the case, the true value of the business will not be clear from the financial records when selling your business.
This creates a significant problem when
Getting succession planning wrong
If you are keeping up with these guides, you might remember last time I was explaining a little about Succession Planning in Business. This next issue is about what happens when you get it wrong.
Firstly, let's look at some success stories to get you thinking about what
Succession planning for business owners is critical. When most business owners think of an exit plan, they think of selling the business. This act of selling the business and exiting or leaving the business is also called ownership succession.
In order to ensure this process is done to the level
Hire staff for your business
I was away recently and was speaking to a sole business owner who asked me the question, "how do I know I am ready to hire staff members"?
It struck me that this is a problem that many small businesses have and wondered what might be helpful
Selling a business - planning starts with knowledge of your "why"
Selling a business is the best way to exit your business and the planning starts years before. As a business owner, you need to begin a learning journey. The more educated you are, the better your plan and the better the
Buying a business with the end in mind
During my discussions with clients interested in buying a business, the question I am often asked is “When should I start planning for the exit of my business?”
If you understand these seven simple truths in this section, then it is logical the preparation of
Buying business - where to next?
Before deciding on the best way to exit a business, it is important to consider the reasons for this transition. Some people will retire, some will take an extended holiday and some will re-enter the workforce as an employee. Others will buy another business or
Buying Business - why and what makes a business attractive
The primary reason someone people are buying business is to get a return on the investment. Each potential acquisition will be judged on the level of future profits the buyer believes the business can generate, the level of risk attached to
Selling your Business
When thinking about buying a business it is also important to think about an exit plan or selling your business. A good starting point when preparing an exit plan is to understand how much your business is worth. This could be a formal or informal valuation.
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