Public Domain from pixabay Business Succession Planning Key to a Successful Retirement You don't even have to have a formal plan, although doing one is better than not doing one. What you do need to do is make sure you know what you need if you ever want to be able to leave your business. Too often I see people like you tell me retirement is five years away. If it's always five years away, you have a problem. That problem is you … [Read more...]
Be Really Smart, Find Professional Help to Sell Your Business
IN 1976 I went into business for myself. The business was a vending and food service company. When I started in the vending industry it was a strong one with reasonable growth. Fast forward twenty years and the industry had become one of the worst industries in the country. The business had gone from one with reasonable new business opportunities to one where it was a negative growth industry. It was the reason I wanted to move on. The … [Read more...]
The Amazing Secret That All Buyers Want?
I ask this question to business owners when they tell me they want to sell their business. It’s usually one of the first questions I ask. If you don’t know what potential buyers want, how can you possibly position your business to sell for a reasonable amount of money? It’s one of the keys to having a successful transition. … [Read more...]
How to think like a buyer
How To Think Like A Buyer You’ve decided to sell your practice. You think you’re fully prepared for your sale. You’ve gotten a valuation and “know” what your practice is worth. You have a great staff and a very loyal client base. You think that selling your business is going to be a piece of cake. You’re sure that it’s not going to take anymore than a few months before you’ve sold your practice and can move on. … [Read more...]
Wealth Managers Should Think About Selling To Their Employees
I spend lots of time talking to owners of wealth management firms like you who aren’t sure how they’re going to leave their business. You might think that you want to sell your firm to an outsider….someone who can pay you lots of cash. You also might find that after a conversation with someone like me you realize your business isn’t going to get you the cash you thought. … [Read more...]
