You've marketed your business, found a qualified buyer, and agreed to terms. Now that you've completed most of your sale tasks, it's finally time to close the deal. While this is an exciting time, you should also be sure to use considerable caution. The last thing any owner wants to do is watch a deal [...]
Whether accumulated through bank loans, lines of credit, or credit cards, debt is a natural part of operating a business. Developing new products and services, hiring additional staff, opening new locations, and purchasing inventory are all common reasons why a company seeks debt-based funding. This raises an interesting question: What happens when a business owner [...]
The time has finally arrived. You’ve spent years diligently building your business, and now you're ready to reap the financial rewards by exiting. There's just one wrinkle – your ideal buyer is your own competitor. While this is a common scenario, it’s not always one that business owners find easy to accept. Handing the keys [...]
When two people collaborate, good things often happen. For example, when you get married, you combine your financial resources, eliminate duplicate expenses, and decrease your cost of living. Great partnerships have also shaped the business world (e.g., Apple’s Steve Jobs and Steve Wozniak). The same can be said for the entertainment industry, which has seen [...]
When it comes to selling a small business, there is a lot more to consider than just the net profit of the business. Since many small businesses are operated by their owner, they often work harder to maximize their cashflow itself. For example, they capitalize on the tax deductions found in salaries and benefits, which [...]
