If you own a small business and have not filed 2023 taxes yet, STOP and fix your financials first. Especially if you want to sell in the next 2-5 years You know what I mean. Clean out most of those personal expenses from your books, so they match...
Read MoreHow do consulting agreements work in selling a business? I get this question a lot in M&A. The purchase price of a business can have a number elements: 1. down payment (cash equity from the buyer) 2. bank financing 3. seller's note 4. installment sale 5. earn-out 6. commissions on future sales 7. consulting...
Read MoreMany people in Mergers and Acquisitions (M&A) talk about "the deal" as the ultimate prize. In part that is true, but if you think about it more deeply, I think it is far more than that. The deal (the sale of the business) represents an ending...
Read MoreIf you are a business owner, rather like card players, sometimes you need to know when to fold 'em. Susan was an owner in the 1980's who built a fabulous big box children's clothing store. Huge selection, deep discounts. She made millions of dollars and people...
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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