Following is a short recap of some of the best articles I’ve read recently on selling your business, buying a business, business value, as well as other useful nuggets of small-business wisdom. [Plus a photo from my travels around Main Street USA.] Part of the formula for selling a small business is YOU If you read [...]
Looking back on the path of business experience that brought me to where I am today, I always smile when I think about the two-year whirlwind I spent working for a venture-backed Internet startup in my hometown of Seattle. With my freshly-minted MBA in hand, I decided to ditch the “old economy” and join the [...]
Following is a short recap of some of the best articles I’ve read recently on selling your business, buying a business, business value, as well as other useful nuggets of small-business wisdom. [Plus a photo from my travels around Main Street USA.] Sell Now Or Keep Going? How One Entrepreneur Made Her Decision Good advice from someone [...]
Every two years we get swept up in Olympics fever at my house, and I tend to get hit the hardest. Snowboard cross, skeleton, curling — I’ll stay up to watch it all. Over the past week or so I’ve also watched several bloggers attempt to make elegant tie-ins between growing an “Olympic” caliber business [...]
I was given the opportunity to contribute a Guest Commentary to this week’s edition of the Northwest Arkansas Business Journal. Following is the original version of my article addressing one of my favorite topics: managing your small-business as if it could be sold at any moment. If you were born after 1964, you’ve probably gotten [...]
The books are closed on 2013 and we’re already halfway through January. In addition to setting some of my own goals (alright, “resolutions”) for the coming year, I’ve read dozens of blog posts on the topic, including this one on why you should commit your goals to writing, this one on why we get sidetracked [...]
A New York Times blogger writes about the sale of a business that ended in disaster. Despite all of the details provided, it’s hard to know exactly what went wrong and why. Regardless, it’s a great opportunity to try and learn from someone else’s experience and avoid repeating these three mistakes.
If you have ever promised your child a treat in return for good behavior, you know all about negotiating leverage. When selling an attractive business, you also have leverage — but only up to the point where you sign a letter of intent (LOI). Here are seven things you can do — before you even put your business up for sale, and before signing an LOI — to minimize the chances of your deal dragging on for months and becoming watered down.
How is that we’ve been trained to think of certain things like cars and homes in terms of resale value, but not our most valuable asset: our business? Even if you have no plans to sell today, or in the short term, or ever, it is good to get in the habit of protecting the resale value of your business.
To grow a valuable business – one you can sell – you need to set up your company so that it is no longer reliant on you. This can be easier said than done, especially when, like a PR consultant or plumber, what you are selling is your expertise.