Will You Be Happy at Your Finish Line?

Have you figured out what you want to have, or to be, when you reach the end of your personal run in this business life? It is a fair question. Most of us work in our businesses, either as managers or owners, and rarely step outside to think about how this will end in a…

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Having a System in Place for Your Business

Recently, the soccer coach of my son’s soccer team passed away. On top of being the coach of my son, he was the owner of a sportswear manufacturing and distributing business for 15 years. From meeting with his family members, he and the business were synonymous. There were other no systems in place. With no…

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What is Your Business Really Worth?

For many owners, the answer to one question determines their ability to leave their companies: “How much money will I get when I sell?” This question is indeed critical. Realistically, you can’t exit your business unless you achieve financial independence, and the primary source of that independence is likely to be the funds you receive…

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Exiting Your Business is a Process, Not a Mystery

Nora Chapman’s story was typical of most business owners who have made the tough decision to leave their companies. At age 54, she was confident in finding a meaningful second act and was ready to leave her 25-employee advertising business. Nora was thinking of selling to one or two of her key employees and when…

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A Small Business Workout: Get in Shape to Sell

It’s always a good idea to keep a regular check on the health of your business, but it’s vital if you are thinking of selling anytime soon. Taking the time out to analyze your expenses, crack down on cyber security, as well as outsourcing tasks and reducing piles of paperwork will really help to tone…

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Avoid These 4 Mistakes When Selling Your Small Business

If you’re like a lot of small business owners, you’ll eventually get to a point in your career where you’re ready to sell the business you built and start off toward a new goal. The reality of selling your business is that it could take longer than you expect. When preparing to sell your business,…

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Your Business: Grow It and Hold It?

Taking money from professional investors such as angels or VCs usually requires that you agree to seek an exit for those investors in your plan, often targeting five to seven years as the ideal period for growth before a liquidity event. Of course, even though that is your contract with the investors, way over half…

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The Role of an Exit Plan as a Franchisee

Going through the purchasing phase of a franchise spikes the adrenaline and fills your mind with endless optimism. That’s great! You should be energized by your new endeavor. But let’s pause here for a moment. Do you plan to retire from this job? What are your long-term goals? Do you plan on pursuing other opportunities?…

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Entrepreneurs: Take the Time to Celebrate Your Exit

We come to the end of this cycle of insights with a thought about how you might view your successful exit from the company you have spent so much effort to build. You’ve worked hard for years to reach the payoff, and the money sure looks good as you contemplate the wire transfer to come,…

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Telltale Signs That You Might Need to Move On

You’ve got to know when to hold ’em Know when to fold ’em Know when to walk away Know when to run You never count your money When you’re sittin’ at the table There’ll be time enough for countin’ When the dealin’s done ~Lyrics from Kenny Rogers’ “The Gambler” In the song “The Gambler,” Kenny…

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