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.
Whether you believe you built it — or feel as if you couldn’t have done it alone — it’s likely that the primary motivator for selling your business will be the same one that made you start it: freedom.
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.
Synergy Business Services invites small-business owners to join us for a free Webinar hosted by best-selling author John Warrillow, “How Sellable is my Business?” Tuesday | May 22nd | 11:00 AM to 12:00 PM EDT
Why would two companies in the same industry, with the same financial performance, command vastly different valuations? The answer often comes down to how much each business is likely to grow in the future.
Most owners have a dream of running their business for their working career, finding a buyer and then riding off into the sunset with no other planning. But without proper planning, the notion that your business is all it takes to get to retirement is usually a myth. Josh Patrick, financial planner, offers some strategies that will help ensure that you can afford to leave your business.