Are You Truly Ready to Become A Business Owner?
People frequently dream of owning their own business, as ownership has a range of perks and benefits. However, prospective business owners need to step back and consider if they are truly ready. In this article, we will explore 3 essential questions that you need to answer before taking the next step and buying a business. Table of Contents: Do You Have the Right Personality Type? Are You...Read More
3 Overlooked Areas to Consider When Buying a Business
There are undoubtedly a multitude of factors involved in buying a business. Since there are so many variables involved, it is easy to neglect some important aspects. In this article, we will explore some of the key areas that can be overlooked when buying a business. Three areas in particular warrant special attention. Table of Contents: Legal Documents W-2 and 1099 Forms Retirement...Read More
Disruptive Factors in Selling Your Business
At some point, every business owner will need to think about selling his or her business. This means you’ll need to be ready to overcome a range of obstacles, as the process of selling a business can be both confusing and time-consuming. This is especially true for those who have not gone through the process before. Let’s turn our attention to some of the key reasons why deals can fall apart....Read More
The Importance of Quality Negotiations
When it comes to finalizing deals, successful negotiations are at the heart of the matter. It only makes sense to think about how to improve your communication skills and to choose a Business Broker or M&A Advisor who is well-versed in the art of negotiation. Table of Contents: Cultivating Win-Win Situations Maintaining the Flow of Information Understand One Another Cultivating...Read More
How Changing Market Conditions Can Impact Your Business
Recently, the International Business Brokers Association (IBBA) released its Q2 survey report, The IBBA and M&A Source Market Pulse. This survey features feedback from an impressive 301 brokerage professionals across 44 states with 266 transactions taking place in the quarter. The report had numerous key findings that will be of interest to those looking to buy or sell a business. Table...Read More
Market Trends Reported in the IBBA and M&A Source Market Pulse Survey: Second Quarter 2021
Created in 2012, the IBBA and M&A Source Market Pulse Survey was created to provide business owners and their advisors with a clear understanding of ever-changing market conditions. Through this survey, it is possible to gain clarity on businesses being sold in Main Street (values $0-$2MM) and the lower middle market (values $2MM -$50MM). Scott Bushkie served as the originator of the...Read More
The 5 Must-Do’s When Considering Buying Any Business
There is no doubt that buying a business can be a very exciting idea; however, it is critical that prospective buyers don’t lose track of what is truly important. Let’s explore the five most important steps that any buyer needs to take when evaluating a business. The simple fact is that as a buyer, you have no choice but to look beyond the sizzle and work to find the steak. In other words,...Read More
Important Points for Selling to a Family Member
Eventually every business owner will have to turn over control of their business to someone else. There are many options for how this can play out. They range from selling the business to a prospective buyer or selling to a competitor, to turning your business over to a family member. It is key that you start thinking about these options years before you end up in a situation where you...Read More
How to Circumvent Three Legal Mistakes Sellers Make
After decades of hard work, selling your business can be an exciting and rewarding time. Yet, many business owners overlook the importance of focusing on the legal matters associated with sales. In this article, we’ll explore three of the most significant mistakes sellers make. Table of Contents: 1. Use an NDA 2. Hire an Attorney 3. Get a Letter of Intent 1. Use an NDA The first...Read More