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.
3 Key Reasons to Spend Time Boosting Business Value
If you’re like most business owners, you’re really, really busy. An “exit plan” might seem like just another paperwork exercise that might be useful someday but definitely not today. Here are three good reasons why it is worth doing ASAP.
Dodge Tax, Gain 15, Lose 300
There is cheating on taxes and then there is optimizing to reduce your tax burden. Of course you’re not required to overpay your taxes, but you can overdo this. Choosing to incur expenses to reduce your net is legal, if not always wise. Skimming cash off your business so as not to report it as income — that’s cheating and is illegal. If you are within 3 years of selling it, stop it. Stop it now! It’s not saving you money. It’s costing you a lot of money. Here’s why.
Employees Drive Your Business Value
The first thing buyers ask is what the financials look like. That’s just to get the conversation going. Price is how they first look for a reasonably suitable business; after that, price is negotiable.
Behind the scenes, the buyers really want to know about a much more subjective factor, and that will determine whether the buyer is really interested and willing to pay top dollar, or runs for the hills immediately.
Here is the simple test of which category your business will fall into.
3 Reasons Why Just Closing Up Shop Is the Worst Way Out Of Your Business Troubles
Yes, 2020 was a bad year for many businesses. Sometimes, it might seem that the easiest way out is just to lock the doors and disappear into the night, using that LLC or Corporation shield to avoid the creditors. It might be the easiest way in the short-term, but it’s not the best way.
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