The title to the 1969 song by the Rolling Stones seems to echo what the market tells some business owners. Many times the offers for the business are not what the seller would hope for. But if there are offers on the table, a business owner must take a hard… Read More »Friday Funny Tip 23 – You can’t always get what you want!
That Pot of Gold will only be there for businesses that have been structured to sell – easy to read financials, profitable bottom line, key employees in place, growing market, quality products and services – a whole host of issues. Business owners who are too aggressive on minimizing taxes and… Read More »Delta Friday Funny: So, where is that Pot of Gold at the end of the rainbow?
Business owners can operate their company as they wish, but when they are ready to sell, will it appeal to buyers? If the numbers don’t make sense or show profits, who would want to buy it? Business owners who want top dollar for their company must be able to reveal… Read More »Tip #19 Will the business numbers look good to anyone else?
When sales are slow, business owners have a tendency to cut back on all marketing expenses. Today, there are various ways of cost-effective advertising to keep in contact with customers and prospects that might be considered. Talking to marketing consultants, reading books or searching on the internet are ways to… Read More »Don’t Let Your Customers Forget You Are Out There!
In too many cases, business financials are so confusing that no one can understand them or analyze them. And it’s not uncommon that the tax returns don’t match up with the Profit and Loss Statements. These can become major problems when the business owner tries to obtain financing or sell… Read More »Tip #17 Financial Statements Others Can Understand!
Many companies have a single customer or a few large customers that dominate their overall sales. After all, nobody wants to turn down business! But when it comes time to sell the company, this becomes a huge problem. Most buyers won’t look at a business whose revenues could drop dramatically after closing from… Read More »Tip #16 What about that Big Customer?
Many business owners seem unable to let go of their company and wait too long. Some lose their entrepreneurial drive and the business starts sliding. Or the market starts to change and the company loses value. To get the maximum price, owners need to do some serious planning to prepare… Read More »Tip #15 Timing is Everything!
Special relationships that business owners have developed with customers and/or vendors can be a real issue when selling the business. A new owner may have a problem continuing that relationship and this could jeopardize the sale of the business. It is recommended that business owners begin delegating any special relationships… Read More »Tip #14 Special Relationships with Customers and/or Vendors Tip
The statement “with a little sales and marketing, a new owner could make a fortune with my business” has been heard over and over by prospective buyers. The question of course is: “Mr./Ms. Business Owner, why haven’t you made that effort”? Buyers are not willing to pay the business owner… Read More »Tip #12 My Business Could be a Gold Mine for a New Owner!
Reporting a lower inventory to their accountant is something many business owners have been doing for a long time. And many accountants just accept the number. In addition to the obvious concerns, when it comes to selling the business, big problems can arise. How will the inventory be valued in the Purchase Allocations? And… Read More »Tip #7 Understating Inventory