Have you ever wondered what’s going to happen to your small business when you retire? If you are an owner who’s been stressed deciding who should take over your small business when you retire, pass away, or become incapacitated, you are not alone. According to the Small Business Administration (SBA), there are approximately 33.2 million […]
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10 Resolutions That Will Boost the Value of Your Company
2021 is in the books. If your goal as a business owner is to build a more valuable company in 2022, here are some New Year’s resolutions to consider: 1. STOP CHASING REVENUE. A bigger company is not necessarily a more valuable one if the extra sales come from products and services that are too […]
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3 Things Wealthy Business Owners Do Differently
Much is made of analyzing the personality traits of successful entrepreneurs. Some appear outgoing. Others are introverts. Some lean right, others left. Some are flashy. Others are monk-like with their money. Their diversity can lead one to the conclusion that there are no common personality traits among successful founders. Rather than trying to understand who […]
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Strategic Fit in Mergers & Acquisitions
Strategic fit is defined as “a situation that occurs when a specific project, target company, or product is seen as appropriate with respect to an organization’s overall objectives.” Company executives seeking to expand through a merger or acquisition will look for another company that makes a good strategic fit with their own. There are many […]
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Is Your Business Too Dependent On You? (5 Reasons Why Your Business Is Too Dependent On You)
If you, as a business owner, were to draw a picture that visually represents your role in your business, what would it look like? Are you at the top of an organizational chart, or stuck in the middle of your business like a hub in a bicycle wheel? The Hub & Spoke model is a drive […]
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Which is Better, a Financial Buyer or a Strategic Buyer?
If you decide to sell your business to an outside acquirer, you’re going to have to decide between a financial and a strategic buyer—understanding the different motivations of these two buyers can be the key to getting a good price for your business. A financial buyer is acquiring your future profit stream, so they will […]