Want to Sell Your Business the Right Way? Do the Right Stuff
Selling your business will likely be the largest financial transaction you’ll ever make. Yet many smart and successful business owners try to sell on their own. Seldom does this result in a successful sale. Even more seldom does the owner receive market value....
Why You May Not Want to Focus on Growing Profit
The value of your business comes down to a single equation: Profit × Multiple = Value What multiple of your profit is a buyer willing to pay for your company? Most owners believe the best way to improve the value of their company is to make more profit, so they find...
Mistaken Valuation Can Set a Business Back
Knowing what their business is worth is becoming top-of-mind for business owners, but they make seven basic mistakes in their attempt to protect the business and the wealth it generates. This article from In Business Magazine presents seven ways business owners...
The Proven Way to Build Value in Your Business
Do you know the value of your business? Would it be attractive to potential buyers? The reality is that most business owners have no idea what their companies are worth. In fact, a recent survey conducted by the International Business Brokers Association (IBBA) found...
5 Business-Selling Stats You Should Care About
As we begin 2019, we’re pleased to note that the economy is still strong, the markets are steady and businesses are selling. Here are a few business-selling pieces of news from a recent survey of members of the International Business Brokers Association (IBBA), with...
Should Small Business Owners Have an Estate Plan?
Estate planning is not something to put off until your deathbed. Should you have an estate plan? Absolutely. Click here to learn more.
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 more.
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 do.
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 strategy.
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 The Sellability Score: 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 Sellabiity Score can help you dial up the value of your business so you get...
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...