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
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.
You may wish
I was with a friend the other day when they mentioned that they had finally decided on buying a business. Congratulations, I said enthusiastically. However, my friend then went on to tell me that they had no idea of the difference between a chattel and a fixture.
So, this article