If you are trying to sell your company and have selected the buyer, the following signs suggest things are moving ahead. The first is the letter of intent (LOI) between you and the buyer. Once it is clear that the sale of the business is going through, aware buyers will want to know as much …
Much like sales, being an advisor means you need to find your clients. Financial advising is a challenging field saturated with competition. According to the United States Department of Labor, there were 263,000 financial advisors as of 2019, projected to increase 4 percent by 2029. Advisors will undoubtedly face stiff competition, making building a steady …
Exit planning provides a clear vision for your future, prepares you and your business for your departure, makes your company more appealing to buyers, and helps you achieve your exit goals. However, it is essential that you, the business owner, create attainable goals for your exit plan. Setting goals is an effective process that motivates …
Business owners often procrastinate planning their exit. However, exiting your business is inevitable, whether you walk through the door or leave it feet first. So, why hesitate to plan the unavoidable (your exit) and get your desired selling price? There’s a big difference between exiting by chance and exiting by a plan. Why leave money …
What’s Stopping Your from Selling Your Business? Read More »
In 2021, the total of mergers and acquisitions (M&A) deals announced as of August 2021 amounted to $3.6 trillion—of which the U.S. alone accounted for $2.14 trillion—surpassing $3.59 trillion in all of 2020, per the Refinitiv data. Considering the enormous volume of such transactions, it is unfortunate that many business owners consider mergers and acquisitions …
Take a moment to think about this scenario: Your client got hit by a bus and, unfortunately, did not survive. It’s a grim thought, but an unfortunate event like that has a domino effect on business. Issues will crop up overnight and have to be resolved as soon as possible. Businesses do not run by …
You want to sell your company and need to answer the all-important question: How much is my company worth? The company has emotional value for the founder; it also has a concrete, monetary value. Business valuations focus on determining monetary value. Knowing your company’s market value can be helpful with taxes, financing, disputes like divorce …
Valuation enhances your business plan with regard to the company’s general well-being and your exit planning strategy. It gives you the vision and direction to enhance the value of your company, so you can achieve your business transition objectives. By prioritizing valuation, you understand the market value of your company. That information helps you make …
A business owner needs an exit strategy to reduce or liquidate their stake in the company. A highly profitable business garners a higher sales price. However, a business that’s not doing so well needs an exit strategy to help the owners cash out profitably or minimize business losses. Influencing factors include industry, location, operational history, …
Do you avoid talking about exiting your business? Do you refuse to write a will? When people bring up the subject of business exit, do you say you’ll deal with it when the time comes? Are you afraid of what would become of the company that you built if something happens to you? What would …
