4. Business Valuation

Exit Strategy and Value Creation. Many Businesses Never Sell. Many Owners Do Not Get the Price They Need. What About You?

No attention to exit strategy. No attention to value creation. “I am tired, and I want to sell but I don’t know what it’s worth or how to design an exit strategy for selling my business.” We hear this from business owners over, and over again. To sell your company, to make it both sellable […]

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When You Hear: “Hey, I Want to Buy Your Business” But You Have No Exit Strategy

Have you gotten this phone call, regardless of where you are in your exit planning? During challenging, tumultuous times (recession, Covid, Ukraine), this call comes from many corners. Some are legitimately interested, some are fishing, some are trying to take advantage. It may or may not be the right timing for your exit planning. In

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Sell My Business Now? Wait for the Economy?

There is a lot going on out there but designing your exit strategy is more important than ever. “Should I sell my business now?” We have always gotten this question, even more frequently since Covid-19 started. Like with the stock market, business owners too often ride the wave up and assume it will keep rising

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Exit Planning / Succession Planning – a Team Sport

Exit and Succession Planning is a Team Sport We have advisors and coaches in all facets of life. But in this most important area for our future, for our family and for our retirement, most business owners are pretty much just “winging it”. Oh, they may have an accountant but not much more of a

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How to Ensure That Your Business Will NOT Grow

“Procrastinate now, don’t put it off” ~ Ellen DeGeneres Ah, procrastination! I have put off writing this blog for too long. But why? “Never put off till tomorrow what may be done the day after tomorrow just as well.” ~ Mark Twain   Consequences In business, decisions don’t get made and actions are not taken.

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Ugh! No! Written Procedures? The Most Dreaded Driver of Business Value that You Need to Address

Written Procedures – Don’t leave money on the table in your exit planning and succession planning! If I recommend to a client that they document all of their procedures, I usually get a verbal, or nonverbal “Ugh!”, and get walked to the door. If I say I have a recommendation that will help them: Grow

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Exit / Succession Planning – TRANSFERABLE Value Drivers

Understanding TRANSFERABLE Value and Value Drivers First, let’s discuss Transferable Value I usually put it this way: “What would happen if you left your business for three months, headed down to an island with absolutely no way to communicate?” If you get back and the business is humming along well, even thriving, you may well

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Exit Planning / Succession Planning – Knowing Your Business Value

Knowing Your Business Value Why is it important to know what your business is worth? Well, the obvious answer is so that you know how much to ask for it when you are ready to sell. But what about today? Do you know what it is worth right now? When I ask business owners about

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Customer Experience – Customer Journey. Driver of Business Value

Customer Experience – Customer Journey. One More in Our Series on Key Drivers of Business Value: The Customer Experience Customer service, delight the customer, customer relationship, customer satisfaction, customer cultivation, customer experience, customer engagement, customer journey. to-MAY-to, to-MAH-to. Like with anything, language evolves.   But the basics remain: Your customers and potential customers experience you,

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Compliance Disaster or Compliance Profitability

I have touched on these topics before and it is time to get into them again. Over the last few years, I have had clients that reduced the value of their business. They have ignored a basic tenet of building a company to maximize business value for their eventual transition, exit or succession plan. Call

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