We all have fears. For high level professionals such as business owners, fears can hang up their ability to effectively leave/sell their business. That can be a costly price to pay, particularly for baby boomer business owners with a short runway to retirement. A common one...
Read MoreIf you had a business that was doing ok, then had a surge in business, how would that impact selling your business? It is hardly news to say that the Covid-19 pandemic had a profound impact on most business, and life in general. I was talking...
Read More"I used to have 50 employees, now I have 5", is what he told me. I was crushed. I had met this man 5 years ago, when he was glowing about his small business. How it had grown well and was profitable in his niches. Then it...
Read MoreI have been speaking with a business owner on and off for a couple years about selling a business. She has gotten close to signing an engagement agreement, but keeps pulling back. Her latest answer to my asking "why" was she wanted to wait for...
Read MoreImagine you are selling your business. Imagine you have agreed to a price and terms with a buyer. Then imagine you learn that the buyer wants an escrow to cover some potential legal liabilities (this happens all the time, by the way), and your...
Read MoreThere is an old vaudeville joke: A man with a gun stops a businessman and his wife on the street and says to the husband, “your wallet or your wife”, the husband pauses for a long time; alarmed, his wife says “just shoot him already...
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I was speaking with a professional advisor to business owners recently about my client screening process for selling a business. I said that to deliver the best result, I ask business owners to write down three sets of goals. The reason is that many,...
Read MorePeople sometimes ask me, "Paul, how can you work for other people after owning and later selling a business? Isn't that hard?" I used to reply, "work is called that for a reason, it's not playtime, so whether you own the business, or someone...
Read Moreby Paul Cronin Have you ever started a sentence that way? Selling a business is the goal (or dream) of many business owners, but then what? In other words, what is the purpose of selling your business? I read a great article in the...
Read MoreIt happened again today - Someone asked "what's the market like for selling a business?". I get asked that question a lot. It reminds of advice from the instructor for my real estate license "people will ask you, so how is the real estate...
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