7 Ways for Sellers to Avoid Wrecking a Deal
There are more than seven ways to wreck anything in life. But here are seven ways to help you avoid wrecking a business transaction.
Cautionary Tale #7: Excess Inventory Blocks a Sale
We all make mistakes in business. Sometimes it costs us money immediately, other times in the long term. In the worst cases, all the way through and including the sale of your business. Particularly when an owner is ready to sell and is in the mindset of “cashing...
Cautionary Tale #6: Accounting Woes
Whenever we discuss commonalities in successful transactions, inevitably “clean books” will be one of the first three things mentioned. Numbers don’t just matter for your valuation, or for tax purposes, or just to track where the money has gone: without clean books, a...
Cautionary Tale #5: “I’m an Owner – You’re an Operator”
One of the key pieces of advice we give to all our new owners is: “Don’t change too much too quickly.” In fact, you should guard against any kind of changes in those early days. You should be soaking up everything you can about the business, learning why it’s gotten...
Bad Deal or No Deal?
One important reason you hire a broker to help you sell your business is the addition of a person to the transaction who is not emotionally tied to the business. We are there as your representative – to make sure you get the best deal possible at the time you...