Business Value Booster Shots
Short Articles on Business Value TopicsShort-form (1-3 minute reads) available here and sent to all site subscribers via email.
Step Away by Stepping Up
Why would a successful business owner turn all their attention to a new line of business, or even jump to an entirely new business, when there is still much to be done in the existing business? Because they can. It's what entrepreneurs do. Not every small business...
When Will Your Someday Come?
Someday... someday... someday. Most small business owners are too busy keeping up with today to "waste" time on something that won't affect them until Someday. The problem is that if you're not ready for Someday when it shows up on its own schedule (not yours), it's...
It’s time – to do what?
The best reason to transfer ownership of your business: it's time. The time that you chose, not the time that chose you. But what is it that you are choosing? Many business owners eventually reach a stage in life where they want to retire and enjoy the fruits of their...
Profit is the Engine of Your Business
The more profit your business makes, the better it is for you now and the more it will be worth someday when you decide to transition it to someone else. Of course, if it were that easy, everyone would be doing it. Here are some strategies that even the smallest...
Navigating the Due Diligence Swamp
Hooray, you have received and accepted an offer to buy your business. The months of anxiety are at an end. Alas, no. Both buyer and seller now have several opportunities to place roadblocks in the way of the deal they both want – or blowing it up altogether. Over half of them do just that. Why would they do this, and how can you avoid it?
Misunderstandings About SBA Loans (Part 3)
A previous post reminded you that in 2022-2023 those COVID-era “free money” programs are going to start demanding repayment. Should you pay the minimum necessary, or get it off your books? Many owners think that a healthy line of credit and a large business loan are indicators of a healthy business. Maybe so, when you decide to sell that business, that loan is going to detract seriously from the business value even though it won’t be the seller’s problem. Why is that?
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