Know why a Seller is selling

 A critical element in a Buyer’s due diligence process is getting a handle on why the current owners are selling.  Generally the party line will be retirement or just plain being tired.  Successful business owners have certainly earned the right to cash in when ready for retirement.  And even if not ready for retirement, many business owners realize they need a change of pace and want to...

Buying an existing business definitely has its advantages

It’s no secret that over half of new business start ups fail within 5 years, many even within the first or second year.  Starting a new business is full of risks and unknowns.  What will be the market acceptance of the new product or service?  How quickly will the planned sales and marketing program build revenues?  Can management sufficiently respond to growing pains – training new...

Sellers need to think like a Buyer…

As I have been meeting with business owners recently, I am reminded of the importance of preparing and positioning a business for sale at least one year prior to actually moving forward with the sales process.   My clients, whether sellers or buyers, all seek the same three things from the sale of a business: great price, great terms, smooth transition.  The deals where everyone walks away...

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