Succession & Transition Planning
August 22, 2016
If you’ve never done it before, selling your business is complex and daunting. Yet many business owners expect that they can manage the process alone when the time comes. They believe they are well suited to sell it - they are smart; they know thei...
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July 25, 2016
Our previous articles about dealing with differences focused on relating to people who are from different backgrounds than ourselves. But for those considering business transition, the most important differences might be with those who have grown up ...
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June 17, 2016
I’m currently on a short sabbatical. Four of us are taking a couple of months to drive a pair of small RVs from Southwestern Ontario to Alaska.
It’s provided some much needed time to observe, think and reflect on life’s bigger pictures.
Thi...
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May 16, 2016
Eileen owns a nice little business with about $3 million in sales. It is profitable, but only just. It pays her a reasonable salary, although not what she should be making given her commitment of time and investment. She is the proud creator and owne...
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April 26, 2016
Successfully selling a business doesn't just happen. It includes, but is not limited to, a combination of many factors:
A valued product or service
Positive, consistent cash flow
Predictable, repeatable business
Customers who pay well
...
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March 22, 2016
Persistence has a double edge. When you start a business and throughout its life span, persistence, tenacity and determination help you succeed. Without these traits you would have given up when the going got rough, as it inevitably does. Whether it ...
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February 23, 2016
Value and price are moving targets, different for everyone. There are many variables that contribute to perceptions about what your business is worth. Let’s say you believe your business is worth $1 million.
Do you want:
Payment in cash so ...
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January 26, 2016
Boomer business owners are about to trigger a major business upset in this country. Many businesses will close as a result of their owner’s procrastination or negligence. Employees will lose jobs, customers will lose suppliers, bank loans will defa...
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December 21, 2015
You’ve accomplished one of the hardest jobs around: starting, running, and building a successful business. You probably started with the germ of an idea and over the past twenty-five plus years you have nurtured, loved, hated and loved it again. Al...
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November 24, 2015
Long-term employees can be an asset when you want to sell your business; but they can also be a liability. Some business owners face the difficult situation of what to do about employees with many years of service, who no longer contribute to the com...
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