Is Now the Time To Sell Your Business?

Is Now the Time To Sell Your Business?

Deal Structure, Exit Planning and Its Benefits, Sale Process, Uncategorized
Have you been thinking about selling your business but just can’t decide if now is the best time?  Do you find yourself repeatedly analyzing the economic situation and wishing you had a crystal ball? There are positive signs and there are negative signs…. If you’re still up in the air and can’t quite decide whether or not to hit the eject button, here are five reasons you might want to consider getting out now. You’re less interested in fighting the good fight A lot of business owners took the Great Recession in the teeth. If you’ve got your business stabilized and the prospect of possibly having to fight through another recession leaves you panic-stricken, it could be time for you to get out. 2. The worst is behind you Let’s…
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8 Questions You’ll Be Asked When Selling Your Business

8 Questions You’ll Be Asked When Selling Your Business

Exit Planning and Its Benefits, Factors Affecting Business Saleability, Preparing to Sell Your Business, Sale Process
One of the most intimidating aspects of selling your business can be facing the barrage of questions during the various management presentations you’ll be doing for potential acquirers. Be prepared to be grilled on all facets of your operations.  Of course, every meeting will be different, but here are some questions you can expect to be asked when you’re in the hot seat: Why do you want to sell your business? It's a slippery question because if your business truly does have a bright future—and you want the buyer to believe that's the case—the obvious question is:  “Why do you want to sell it, and do would you want to sell it now?” What is your cost per new customer acquired? The potential acquirer wants to find out if you have…
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9 Warning Signs You’re a Hub-and-Spoke Owner

9 Warning Signs You’re a Hub-and-Spoke Owner

Exit Planning and Its Benefits, Factors Affecting Business Saleability, Strategy, Uncategorized
If you were to draw a picture that visually represents your role in your business, what would it look like? Are you at the top of a traditional Christmas-tree-like organizational chart, or are you stuck in the middle of your business, like a hub in a bicycle wheel? If so you are a hub and spoke owner. As anyone who has tried to fly United when O’Hare has been hit by a snowstorm knows, a hub-and-spoke model is only as strong as the hub. The moment the hub is overwhelmed, the entire system fails. Acquirers generally avoid hub-and-spoke managed businesses because they understand the dangers of buying a company too dependent on the owner. Here’s a list of nine warning signs you’re a hub-and-spoke owner and some suggestions for pulling…
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