When you start your business, you should also prepare to sell your business. This may sound extreme, yet few business owners reach this level of preparedness. Most sales are event-driven. Factors such as health issues, burnout, problems with a partnership or even divorce can drive...
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Without employees, you don't have a business. Your employees are very important to your business. Take some time and reflect on the value associated with keeping your employees happy. There is a direct relationship between happy employees and happy customers. Happy employees take steps to ensure...
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It is important for owners to understand their leases. The status of your lease could be of paramount importance if your business is location-sensitive. Businesses such as restaurants and retail are usually location-dependent and need to pay special attention to their leases. Every business should...
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Don’t overlook the value of the term sheet. The term sheet is often used before the creation of an actual purchase or sale agreement. Here is a closer look at the term sheet and why it is important. What Is A Term Sheet? Term sheets are rarely...
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Having a signed letter of intent can be a good feeling. It may seem like everything is moving along just fine, but you still need to complete the due diligence process. The decision to finalize the deal happens during the due diligence process. A lot...
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Below are a few interesting articles we recently found on the web. Article #1: “41% of Entrepreneurs Will Leave Their Small Business Behind In 5 Years” from Small Business Trends A summarized report from a global financial services firm that looks at business ownership and entrepreneurialism...
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Many prospective business sellers and buyers overlook how important negotiations can be. Negotiations can also be tricky. Before the time to buy or sell, think through your negotiation strategies. Here are some easy ways to negotiate. Negotiation Tactic #1 - Take It or Leave It Using this...
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Sellers must pay attention to red flags when it comes to selling a business. They need to keep their eyes open because problems can always arise. Until the deal is official, sellers need to evaluate every aspect of a transaction to make sure something isn’t...
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One of the most important decisions a person can make is selling or buying a business. There are several points to take into consideration before you make that decision. Here are some key points involved in selling or buying a business. Key Point #1 - What...
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Personal goodwill can have an impact on businesses. Understanding the cultivation of goodwill is of great value for any company. A founder builds one or more of the following during the process of building a business: A positive personal reputation. A personal relationship with key players...
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