For most entrepreneurs, their current business is not where they intend to stay until they die. At the right time, they all intend to make a graceful exit, and leave while still perceived to be on top of their game. The challenge is how to know and exit gracefully when the right time has come, […]
Exit Strategy
Selling Your Business? Consider These Important Things First
Selling your business is more than just making sure the offices are clean or that your website is working and user-friendly… there are a lot of considerations to take into account. You might need to hire a broker, accountant, and even an attorney as you go through the process of selling. One of the first […]
What Mistakes You Should Avoid When Selling a Business
Most entrepreneurs won’t ever get too many opportunities to sell a business. So you’ll surely agree it’s something you would want to do well. And to help you achieve just that aim, here’s a list of some common mistakes you should try to avoid when selling a small business. Lack of preparation All the evidence […]
What Costs Are Involved When Selling Your Business?
When planning to sell your business, it’s essential to understand that you will inevitably face certain expenses once the sale process gets under way. And it’s only by factoring in these additional costs that you can arrive at a true estimate of what your net profit from the exercise is likely to be. So, here’s […]
Franchise Succession Planning: What’s Your Exit Strategy?
Planning to exit a franchise system is just as important as choosing to be part of one. While passing down your business to a loved one can strengthen your relationship, it can also be a pretty complicated process. To make the process even more complex, most franchisors must approve your successor. William Slater Vincent, a […]
Strategic Planning for Business Owners
What Is Included In Business Succession Planning? A business owner needs to consider various strategies in order to prepare for the expected and unexpected legal challenges. To do so, the business owner should generally form a separate entity, such as a corporation. Next, whether the business is owned by one person or multiple partners, every […]
Are You Thinking of the End Game When Managing Your Business?
Ever think about growing your business with the plan to sell it someday, cashing in on your hard-earned work over the years? Or if you’re an employee with stock options, are you aware of the increases in value you can make with your efforts? Then again, you may be an architect or doctor or other […]
Breaking Up in Business: How to Do It Painlessly
As the founder of an online resource specializing in all things marriage (including divorce), I’ve come to learn that business relationships have many parallels to marriage and intimate relationships. They start with enthusiasm and passion, they grow through balance and communication, and they endure the peaks and valleys of life. But sometimes, they also end. Divorce for […]
Selling Your Business Doesn’t Have to Be Doom and Gloom
You’re selling your most prized possession – your business. Whether it’s on a high note or not, it can be a daunting prospect, especially if you’re worried that it reflects badly on your abilities. But it doesn’t have to be that way. There are plenty of reasons to sell, and none of them have anything […]
Franchisees: Understanding Your Exit Strategy
You need an exit strategy. It’s as plain as day, yet most new franchisees never address the idea of leaving their business one day. All the excitement centers on opening and growing. It’s a different, but mandatory, approach to open their franchise unit with the end in mind. Bar none, the best exit strategy is […]
