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Many of those who buy businesses are individuals who come from corporate America.   They are individuals who have left disgusted, burn out, or with pink slip in hand.  They want to be their own boss and demonstrate their capabilities to operate a business.  Their background may or may not immediately translate into great entrepreneur. When I made this move over ten years ago, my move was from team of 10,000, albeit in various [...]

There are two sides to every transaction (and maybe more.)  The buyer is often on their own when considering a purchase of a business, small or large.  This article is spot on regarding some considerations, including seeking assistance. Recently I worked with two different buyers who were looking at businesses for sale in other parts of the country.  They found it helpful having someone assist them through the process of valuation, offer, negotiation, [...]

In many business sales, the location of the business is in a building with the business owner paying rent.  Many leases have obligations to stay on the lease through the term EVEN IF THE BUSINESS IS SOLD and a new owner has primary responsibility to make the lease payments. Many leases also require there be no subleasing or no subleasing without the building owner's permission. These requirements can muddy the water of a [...]

Franchises are a significant portion of the economic structure in the United States.  We should not ignore them as the right fit for some entrepreneurs.  This said, know that the due diligence required for a franchise is as important as it is for an independent business.  Often one needs more cash to buy the franchise and the handcuffs involved in ownership can be more restricting than a non-franchise business.  So, before you get [...]

Recently a business owner, early in his start up, asked about selling.  I LOVE that he asked now and not five years from now.  This is what I said to him. Selling Your New Business Tips to prepare To increase the chances of selling a business, one wants as many interested and qualified buyers.  Maximize Buyers With: 1)   One year of growing or, at least, stable cash to owner 2)   Cash flow that [...]

Physicians, as others, are reaching retirement age in increasing numbers.  Some are merely finding that their professional interests are beyond their practice and wish to move to a new career. Electing to sell a practice can be complex based on demands for practice changes such as electronic medical records, not-yet-known changes healthcare structures, local health system interests in 'owning' physician practices, and the constant ebb and flow of practice expansions and contractions.  Did [...]

Buying your business and looking for financing by a bank, angel investor, buddy?  You need a business plan. Selling a business?  One of the features of a good for-sale process is for the seller to be able to show the buyer a plan for the future.  It will help to wet the appetite of the buyer. Operating a business?  You should have a business plan that helps to guide decisions, initiatives. This article [...]

I am not certain you have had a similar experience:  My good friend Marie's daughter is a documentary producer, director, writer, etc.  One of Elizabeth's projects was The Loving Story which is a highly acclaimed documentary.  As she was working on this effort, I was asked to contribute to the production and marketing through a virtual environment called Indegogo.com.  Through this site, one of several, projects can be submitted for multitudes to consider [...]

Kerry Armour, of Millipede Media Group,  is a content developer for companies.  She and I met at the Santa Fe Friday Networking Group lunches.  We got talking about the return on investment from social media, I wondering how we can measure it.  She has now spoken on the subject through her blog entry that can be found on her website at this address:  ROI Thanks to Kerry for the insights and time taken [...]

As business models have evolved over the recent decades, increasingly most every relationship has been defined as being a customer relationship.  Business buyers and sellers are no exception.  I love this trend it seems so much more civil and more likely to result in good things – everyone working together to – whatever. This is a quick list of relationships that might be considered customer based: Staff member to manager Manager to staff [...]