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The question of what you are selling as your business seems like an easy question with an obvious answer, but is it? Many business owners new to the process of selling their business assume they will be selling the business “entity.” This is most often an S Corp, or possibly an LLC (Limited Liability Company).…

As the recovery (a.k.a., recession) drags on, it’s surprising that some companies aren’t taking more measured steps to improve working capital by enhancing cash management and increasing free cash flow. There is always room to improve. Working capital is a barometer of a company’s operational and financial efficiency and effectiveness.  The better its condition, the better…

Different buyers have different objectives and levels of experience. Understanding these differences can help you in getting the kind of deal you want. As you begin discussions with potential buyers, it’s important to keep in mind that buyer’s goals and objectives vary greatly. In general, buyers can be classified into three groups:

Business owners who have created considerable wealth in their private enterprises but are not quite ready to exit completely have interesting financial alternatives in today’s market.  An increasingly popular option is to begin transitioning business ownership to a partner, family member or private equity investor through a leveraged recapitalization (a “recap”).

Looking at your business with an outsider’s perspective is difficult. Many business owners are overcome with emotion and believe their businesses are worth far more than the financial markets might indicate. In order to effectively sell your business, you must come to grips with the fact that selling a business is an emotionally-charged experience and…

If you’re like a lot of business owners, you react passively to inbound letters and phone calls that announce “someone wants to buy your business.” This is fine if you have no plans to sell your business, have not been trying to build business value and are not interested in maximizing your potential take from…

The decision to sell impacts your management team, your employees, and your own state of mind.  Deciding when and how to sell your business is a nerve-wracking time, and it can prove exponentially more difficult if you do not have a solid exit strategy that includes consideration of employee benefits and your transition plan. Personnel…

At some point you will know that you are ready to sell your business.  At that time, the question will no longer be whether or not you are ready to sell your business but it will be whether or not your business is ready to be sold. More than 70% of privately held businesses have…

What are the key value drivers when preparing for a business sale? Several inter-related factors help determine the salability and value of a privately held business. A successful business sale depends on attention to each factor.