Are you fully aware of your business's true worth? In today's ever-changing business landscape, understanding your business's valuation is not just important – it's a game-changer. However, this is just the beginning. Crafting a well-thought-out exit strategy, whether...
When working with my franchise candidates, we inevitably arrive at a point in the research process where they are getting serious about a specific franchise business as their preferred investment. This is when I like to revisit the question of “who is their lawyer to...
Effective pre-due diligence can give you more. More quality listings, more closings, and more time. In the intricate world of business brokerage, effective pre-due diligence is not just a preliminary step; it's a cornerstone for success. Effective pre-due diligence...
Goals are what keep us motivated and give us something to work toward. There are all types of goals that we make throughout our lives, especially in our professional lives. For instance, many people have a goal of getting a promotion after a certain amount of time at...
Keeping it in the Family For family businesses to succeed and remain in operation from one generation to the next, succession planning is a crucial procedure. Early planning is crucial, and each plan should be customized to meet the particular requirements of the...
Growing your business is a constant challenge, but it's essential if you want to achieve long-term success. While there are many strategies you can use to grow your business, financial growth strategies are among the most effective. By focusing on your finances, you...
What Happens When it's Time for You to Step Down and Hand Over the Reins? What Is Succession Planning? Succession planning ensures your legacy lives on, and your hard work continues to benefit your employees, customers, and community long after you have retired. It is...
Two Sides to Every Story I’m sure you’ve heard the phrase, “There are two sides to every story” in your life many times. This phrase has special meaning for business owners who are often faced with the personal side of their story and a business side of their story....
We recently met with the family of a business owner who passed away unexpectedly and left an ongoing business to his wife. The business did not have a management team in place and over the probate period, which took about a year, the employees were unable to keep the...
In the words of Malcolm Forbes, “Too many people overvalue what they are not and undervalue what they are.” This is especially true when retiring after a successful career that has become your identity. Once a person retires, it’s common for his or her self-esteem...
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