How to Know You’re Charging Enough
Most business owners fret about whether they are asking too much or not enough for their goods or services. This dilemma keeps many prospective sellers up at night. Ask too much, and you may fail to attract enough customers; ask too little, and you’re cutting yourself short. In this article, we’ll examine how to determine if you are charging the right amount for your goods and services. Many...Read More
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Navigating the Decision to Sell Your Business
For many business owners, deciding to sell their company is one of the most significant financial decisions they will ever face. This choice not only alters their financial situation but also impacts their lives as a whole. Life after selling a business can be vastly different, so it’s essential for owners to consider what their future might look like post-sale. Sellers must carefully...Read More
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Great Ways for Business Owners to Save Money
Business owners are constantly seeking ways to cut costs and boost profits to make their businesses as attractive as possible to buyers. Fortunately, there are many surprisingly simple strategies to save money across various aspects of your business. 1. Embrace Digital Solutions One effective way to save money is by going digital. Just as you should evaluate which tasks can be outsourced or...Read More
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Don’t Settle for Less Than a Highly Accurate EBITDA
If you, as the seller, want to receive the best price for your business, it’s essential to understand that your adjusted or normalized EBITDA will serve as the foundation for the purchase price. This EBITDA will be used as a multiple to negotiate the final price. Every dollar counts; for example, if your EBITDA is off by $50,000 and the multiple is three, the final acquisition cost of your...Read More
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EBITDA and What It Means for Selling Your Business
Selling a business is rarely as straightforward or fast as business owners would like. Unless you’ve sold a business before, there will be unforeseen obstacles. Even if you’ve sold a business before, you will likely run into hurdles along the way. The fact that every business is different, and this impacts the variables associated with the sale of a given business. Market conditions change...Read More
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Selling Your Business: Key Questions and Answers
Selling your business is a significant decision. You’ve invested considerable time, money, and effort into building and running it—perhaps it even represents your life’s work. Now that you’ve decided it’s time to sell, getting the best professional advice is crucial. This is where working with a professional business broker can be the key to not just selling your business, but selling it at...Read More
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The Critical Role of Storytelling in Selling a Business
Every business has a story to tell. In fact, selling a business involves the art of storytelling as you must pique interest and enthusiasm in the mind of the buyer. Through storytelling, you can convey not only the history of a business, but also its future. Good business brokers and M&A advisors are storytellers who know how to relay the core truths and the core values of a given...Read More
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How Inexperience Can Impact Your Business Sale
The lessons learned through hands-on experience are often irreplaceable. When it comes to selling or transferring ownership of a business, inexperience can be particularly troublesome. Many business brokers and M&A advisors have observed firsthand the jeopardy business owners can face when they either attempt to sell their business on their own or engage someone without the proper...Read More
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Unraveling the Complex Realities of Valuations
Determining an accurate valuation for a company is far from straightforward. It involves a range of complex, and often rapidly changing, factors. The challenge is compounded by the fact that some aspects of valuation are inherently subjective. This means that different professionals might ultimately arrive at different conclusions. Despite these challenges, we can establish ways to navigate...Read More
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What You Need to Know About Family Business Legacy and Transition
Family businesses are quite common. Estimates suggest there are more than 5 million family businesses in the United States alone. While family businesses are prevalent, this does not diminish their unique nature, as a family business often plays a central role in the family’s identity. Family members are typically deeply attached to the business and its achievements. They may see their own...Read More
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