Every business owner is battered by letters or phone calls asking about the sale of his or her business. You learn to ignore them or simply not put too much stock in them. But then, there’s a letter or phone call that’s different – you can tell there’s a real buyer on the other side. Read more
Selling your business requires honesty.
You must be prepared to answer the questions that buyers have in an honest, almost clinical way.
Starting strong in your business exit process involves being honest about your motivation, your numbers, your employees, your customers and your competitors.
It’s a bit like going to the doctor to get your moles checked – annoying, frustrating, a bit anxiety inducing but you come out on the other side aware of what needs to be removed and what looks a little funky but is actually just fine.
Jeff Hutsell sold his company, Levels of Discovery, in 2013. Recently, we interviewed Jeff to find out what he recalls about the process and what advice he has for others.
Is business ownership a valuable experience? Read the story of Robert Drumm, a DVS Group client, to find out.
Lawyer, brewer of beer, writer, dad, husband – all words used to describe Robert.
In 2013, he was ready to add one more role to that list – business owner. Read more
Not many things are more overwhelming or intimidating than when a business you respect approaches you asking that you consider selling your business. Whether you’re ready to sell or not, there is a rush of emotions: fear, excitement, trepidation, pride. Every fiber of your being wants this to work out for the survival of your business, for your employees, your family, your legacy.
Most of us have a desire to make an impact, make a difference, contribute. Business owners have a unique opportunity to do that in ways that ripple beyond their direct sphere of influence.
Take a look at the statistics below about small business in the US, the individuals it impacts and the community that benefits.
There are two main considerations when thinking about who would and could buy your business. The first is your management team. The second is the size of your business. Why are these the two main considerations? They’re the first two aspects of the business a buyer will go to in order to evaluate. Your management team and the size of your business matter to buyers.
I enjoyed my time talking to Bill Black about the buyer’s perspective in business acquisition. These insights might be helpful if you are a motivated seller and desire to be attractive to potential buyers of your business.
Check out more of Bill Black’s Exit Coach Radio interviews here.
As an advisor, you have your client’s trust and thus, you desire to direct them wisely. When your client is a business owner there is an additional asset to consider- an asset that is hard to put a number on. Each business is unique and requires a careful valuation process. The valuation process can feel complicated and often evokes emotion. Read more