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Last week I presented a webinar for the Exit Planning Institute entitled “The Perfect Storm.” It looks at six factors impacting the desire and the ability of Generation X buyers to acquire a Baby Boomer business.

The first three, demographic, psychographic and sociographic, are macro t Read More

In the past few weeks we’ve discussed how quality of earnings audits look at your income and expenses, and their impact on company value. Since Revenue less Expenses equals Profit (P=R-E), you could be forgiven for thinking that we have picked apart your earnings as much as possible. Read More

While a formal, third-party Quality of Earnings Study is more often seen in mid-market transactions, even small business owners should be aware of the factors that can cause discounts to a selling price long after they thought it was settled. There are few things as exciting as receiving a Letter o Read More

What does an unsellable company look like? Some business brokers will assert that there is a buyer for any business. That may be true, but historically four out of every five small businesses listed for sale fail to sell. In this post I am specifically discussing profitable Main Street businesses. Read More

In any negotiation, you can assume either a win-win solution or a zero sum outcome. “Win-win” is when both parties come out ahead. “Zero sum” is when whatever one party achieves equals a loss for the other. Business is win-win. The assumption that everything is zero sum is not only wrong, it is stu Read More

Small businesses become bigger businesses through their owners’ leadership and creativity. Time isn’t a fungible commodity, you can’t save it or get more of it. In a zero-sum equation, any increase in one factor means a reduction in others. The more time you spend managing, the less there is left Read More

What does a new political environment mean for business owners who are planning to transition their businesses? Should you accelerate your plans, or slow them down? The biggest single factor in successfully selling a company is the current condition of the financial markets. Read More

The authority of central governance should be limited to what needs to be centralized. The way to combat branch mentality is to mandate those things that control your offering and presentation to the public. Those rules are inviolable. Flexibility in implementation is acceptable, as long as the mos Read More

If you are planning to exit your business, what is the best asset that you have to sell? Unless you have patented product, exclusive rights, or long-term customer contracts, you answer is likely “Our people.” How can someone rationally consider paying top dollar for your successful business when it Read More

Opinions offered by Millennial employees aren’t a criticism of you or your company. They don’t have appropriate respect for your experience because they have little of their own to measure it against. It will come, but in the meantime take a few minutes to listen to them. You may see it as panderin Read More