News, Updates, & Resources
Business Plan Basics
Ho-hum, you may be thinking. Or, boring. Maybe even, when can I possibly fit this into my hectic week? As an entrepreneur, you are an extremely busy individual who probably shoots from the hip more often than not. So, do you really need to take the time and effort to...
Finding the Perfect Moment: When Is the Best Time to Sell Your Business?
The biggest financial transaction in a private business owner's life is likely the sale of his or her business. Although many transfers are predetermined, others result from unplanned events, which is why it is essential for business owners to have an exit strategy....
The Importance of Intangible Assets When Selling a Business – Business For Sale
You've spent a lifetime building up your business. Whether you have always planned to move on or are selling your business due to the continuing pressures exerted by the many recent economic downturns, you will be looking to achieve the greatest profit attainable for...
How To Get Your Business Ready To Sell
Here are some of the obvious, and not so obvious, steps you can take as you get ready to sell your business: Clean the premises Organize the books and records Deal with any customer/vendor/employee issues prior to the sale Try to increase revenues without sacrificing...
You Have Goodwill Because?
From time to time, I am in the unfortunate position of telling some 50-year old business owner that they "just don’t have any goodwill". "But we have been around forever, or our name is like a household word in the community, or we literally have thousands of...
Crafting a Winning Negotiation Strategy for Selling Your Business
When you begin to negotiate the sale of the business, you will be much better off if you have developed a personal plan and have prioritized which items in the deal are the most important to you and which items you can compromise on and still accomplish your...
The Ultimate Wish List: What Small Business Buyers Are Looking For
We recently presented a wish list for a typical seller of a small business. Now, it's the buyer's turn. Entrepreneurs – whether they are buyers or sellers – generally agree on several factors that make the business transfer process more seamless overall. A buyer...
Small Business Seller’s Wish List
Today we are offering a wish list for a typical seller of a small business. Entrepreneurs who are selling their companies, as well as those looking to purchase, generally agree on what would make the process more seamless overall. What the seller wants: A qualified...
Understanding Buyer Priorities: What Matters Most to Business Buyers
An established business has much to offer a prospective buyer. A proven product or service exists, as well as a customer base. Typically, there are experienced employees and managers in place (and many choose to remain with the company after the sale is complete)....
Murphy Business Broker Explains the Process of Selling Your Business Step by Step
Anyone selling a business should be considering the elements of the sales process. Business brokers are invaluable in each of these considerations: Think It Through – Know What You Want Do you want to retire completely or continue to have a hand or profit in the...