When it comes to selling your business, there are so many areas that require delicate handling that it’s hard to know which one is the touchiest. Perhaps no other part of the process of selling causes more angst and discomfort than the thought of telling your employees that they’re going to be working for someone [...]
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 [...]
Early in my corporate career I was in a team meeting where the manager asked us all to answer the following question: what are you motivated by? Sensing a trap, I kept quiet and let my unsuspecting co-workers take the bait. It was only a matter of seconds before somebody wearing his Gordon Gekko hat [...]
Following is a short recap of some of the best articles I’ve read recently on selling a 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.] Business Transitions: It is Hard to Let Go Business ownership transfers are inevitable, [...]
When it comes to the process of selling your business, no phase is entered into with more dread than due diligence. I’ve heard a lot of colorful euphemisms for due diligence from business owners over the years. The most common has been to describe the experience as the business equivalent of a colonoscopy. Another analogy [...]
Selling something you love is difficult, but not impossible. Here are four things to keep in mind when you’re going through the process of selling your business — or anything that is dear to you.
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.
It’s not often that I’m able to weave grandmothers, due diligence and airborne mashed potatoes into one post, but last year I managed to do it in a New York Times piece titled 5 Reasons Selling Your Business Is Like Thanksgiving Dinner. I had a ball writing it, and I hope you’ll have fun reading it. Following is an excerpt that includes reasons number one and two.