Once the deal is sealed and the closing is complete, many business owners might think their job is done. However, ensuring that the transition to the new owner goes smoothly is crucial not only for the business’ continued success, but…
In today’s business world, effective communication is paramount, and the telephone remains one of the most essential tools for engaging with clients, prospects, and partners. Automated answering services, voicemail systems, or hold music can significantly impact your company’s image and…
One of the most critical questions for prospective buyers, investors, and lenders is understanding a business’s true income. However, it should come as no surprise that the party most invested in uncovering this information is the Internal Revenue Service (IRS).…
When it comes to buying or selling a business, we often get asked two common questions: “How many businesses are for sale?” and “What percentage of businesses on the market actually sell?” To get a sense of the market, it’s…
Entrepreneurs are typically dynamic and driven individuals who play a critical role in driving innovation. However, to succeed, they must leverage their strengths while being mindful of their weaknesses. By understanding both, entrepreneurs can maximize their potential and build more…
Many businesses have a product or service that’s performing reasonably well, perhaps even thriving, but doesn’t quite align with the company’s core offerings. It’s often called an “orphaned” product—a good or service that is disconnected from the company’s main focus.…
If your business interacts with customers, it’s inevitable that at some point, you will receive customer complaints or negative feedback. The key to turning these situations into opportunities is how you handle them. Ignoring or dismissing customer complaints can damage…
Before delving into the specific steps that benefit business owners who are looking to sell quickly, it’s crucial to understand the buyer’s viewpoint. For many buyers, purchasing a business is a once-in-a-lifetime event, often involving significant personal and financial risk.…
While learning that you have a serious buyer for your business may feel like a cause for celebration, it’s important to hold off on the champagne. The journey from a buyer expressing interest to a finalized sale involves several steps,…
As a business owner, one of your ongoing priorities should be finding ways to save money. Ultimately, this will boost your bottom line and make your business more attractive to buyers. Let’s take a look at some strategies to run…
Most business owners fret about whether they are asking too much or not enough for their goods or services. This dilemma keeps many prospective sellers up at night. Ask too much, and you may fail to attract enough customers; ask…
For many business owners, deciding to sell their company is one of the most significant financial decisions they will ever face. This choice not only alters their financial situation but also impacts their lives as a whole. Life after selling…