Training New Owners After Selling Your Business
When you sell your business, it’s common practice to provide training for the new owner. But what does new owner training involve? What are your responsibilities? And how long will you will be “on the hook” after the deal has closed? Click here to...
Ignoring Tax Issues Before the Deal Is Struck Is a Big Mistake
If you are selling your business, ignoring tax considerations until after the deal is struck is a big mistake and can put you in a dicey negotiating position, even if the letter of intent (LOI) or term sheet (TS) is non-binding. Click here to learn...
Transferring Your Business to Family? Here’s What You Need to Know
If you are considering transferring your business to a family member, you might be tempted to put their wants and needs ahead of yours. Click here to read why this is not always the smart thing to...
Why You Should Kiss a Lot of Frogs When Selling Your Business
Selling a business to the right buyer is like finding the right match from an online dating service: The first one to come along often is not the best match. Click here to learn why having a number of suitors is a smart business-selling...
5 Ways to Build Lasting Customer Relationships in the Digital Age
In today’s digital world, it’s easy to forget how to connect with people on a deeper level. Here are 5 great ways to create strong connections with your customers and make them feel cared-for. It’s just good business! Read...
How Do You Grow a Successful Business While Keeping Family First?
Are creating a successful business and caring for family mutually exclusive propositions? Here is a great piece that reassures: You can do both. Click here to learn more
Introducing Value Builder: The Proven Way to Get the Greatest Value When You Sell Your Business
So you’re thinking about selling your business. Do you know how “sellable” it actually is? Would buyers actually be interested? Watch this short video to learn how the BEACON Value Builder System can help you dial up the value of your business so you...
6 Questions You Need to Answer Before You Sell Your Business
Thinking about selling your business? There are six important questions you must answer to get the best value for your business at the time that is best to sell. Click here to learn more.
What Creates Value in a Business?
This is a great piece that provides a blueprint for getting your business ready to sell for the greatest financial benefit to you. Click here to learn more about creating value in your business...
5 Ways to Get Your Business to Run Without You
Some owners focus on growing their profits, while others are obsessed with sales goals. Have you ever considered making it your primary goal to set up your business so that it can thrive and grow without you? A business not dependent on its owner is the ultimate asset...
5 Reasons Why Now Might Be The Right Time To Sell Your Business
Big question: Should you sell your business now or wait until later? Are you trying to time the sale of your business so that you exit when both your business and the economy are peaking? While your objective to build your company’s value is admirable, here are five...
6 Good Reasons NOT to Diversify
Diversification is a sound financial planning strategy, but does it work for company building? How does Vitamix get away with charging $700 for a blender when reputable companies like Cuisinart and Breville make blenders for less than half the price? It’s because...
How Much Goodwill Do You Have in Your Business?
The term “goodwill” is often thrown around in conversation as though it is a subjective description of how much your customers like your business. In fact, when it comes to valuing your business, there is nothing subjective about the definition of goodwill. It is...
8 Questions You’ll Be Asked When Selling Your Business
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...
4 Traps to Avoid When Selling Your Business
Business owners have been known to refer to due diligence as “the entrepreneur’s proctology exam.” It’s a crude analogy but a good representation of what it feels like when a stranger pokes, prods, and looks inside every inch of your business....
8 Ways to Know If You Have a Job or Own a Business
The ultimate test of your business can be found in a simple question: Would someone want to buy your company? Whether you want to sell next year or a decade from now, you must be building an asset someone would buy. Otherwise, you have a job, not a business. Here are...