Blog Library

6 Things You Should Do Now to Prepare for the Sale of your Business

Posted by Jane Johnson on Thu, Jan, 26, 2017 @ 07:47 PM

2016 was a hot year for small business sales – 7,842 transactions were closed in 2016, up 8.6% from 2015 and 4.6% from 2014, according to BizBuySell's 2016 Insight Report. According to the report, 2016 had the highest number of businesses changing hands since the report’s inception in 2007. Primary factors for the reported growth are attributed to an improving small business environment, more owners looking to sell, more qualified buyers on the market, and better financing options.

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Topics: business transfer, business transition, selling my business

Putting Together Your Business Transition Dream Team

Posted by Jane Johnson on Tue, Nov, 08, 2016 @ 03:03 PM

As an owner who is thinking about selling your business to a third party or transitioning the ownership to family or other insiders, it’s important to educate yourself about the process and work with professional advisors who specialize in business transfers and have the expertise to manage all facets of your transaction.

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Topics: business planning, business transition, selling my business, Business transition team

The Benefits of Partnering with a Business Transition Advisor

Posted by Jane Johnson on Sun, Oct, 23, 2016 @ 01:04 PM

A business transition is a complex process – whether you’re selling to an outside buyer or transferring your business internally. It takes a lot of careful planning and generally requires a number of years to be executed successfully.

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Topics: selling a business, business transition, business transition plan, business transition advisor

3 Common Financial Mistakes That Can Decrease the Value of a Business in the Eyes of a Buyer

Posted by Jane Johnson on Wed, May, 04, 2016 @ 04:13 PM

Most owners planning for retirement are dependent on the sale of their companies to provide the cash needed to finance the next phase of their lives. A substantial amount of wealth is trapped inside the illiquid asset that is their business. And the fact is that a majority of owners will have to boost the value of their businesses before they transition them to new owners or they will not net enough money from the transition, after taxes and fees, to fund the rest of their lives.

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Topics: business transition, selling your business, increase the value of your business, selling to an outsider, value of a business, planning for retirement, financial mistakes

Tips for Avoiding Common Retirement Challenges while Planning for Your Business Transition

Posted by Jane Johnson on Mon, Apr, 04, 2016 @ 05:46 PM

“No business task seems more difficult than slowly disengaging from the thing that gives you your identity, the clients you love, the routine you've established, and the team you've been integral to for many years.” This quote from an article in Journal of AccountancyRetirement: Avoid the pitfalls and plan for the possibilities” is so true and something that we come across frequently with the business owners we work with. Just as we discussed in When It’s Time to Step Away from Your Business, getting used to the idea of letting go or stepping away from your business may be the hardest thing for an owner to do.

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Topics: business transition, business owner retirement, exiting planning, planning business transition, business owner identity, step away from business, retirement challenges, Journal of Accountancy, planning for retirement

The Process of Selling Your Business to an External Buyer

Posted by Jane Johnson on Tue, Jan, 05, 2016 @ 09:30 AM

We’ve said it many times: Selling your business is a process! And, it can be long and arduous – 9-12 months or longer. Make no mistake, there will be a tremendous amount of work involved. The world of third-party transactions is a complex world and an expert “team” is needed to make your transaction a success. Your team should consist of key players, including an intermediary – a broker or investment banker who will help you sell -- and a number of other key advisors who should be involved in the process.

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Topics: Selling Your Business Externally, business transition, business transition planning, selling your business in 2016, process of selling a business

Understanding Your Buyer to Position Your Business in the Best Light

Posted by Kathy Richardson-Mauro on Mon, Dec, 14, 2015 @ 06:04 PM

The process of business transitioning is an art, not just a transaction. And by developing your business transition plan, you have the power to create the art. Once you’ve determined your goals, quantified your financial needs, improved your business value, and understand your options, the art is in how you manage the transaction to ensure a successful outcome. This involves understanding what different buyers are looking for so you may position your business in the best possible light. Here are some things you will need to do:

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Topics: business transition, business transition planning, selling your business, Understanding potential buyers for your business, positioning your business to sell, buyers for your business

Learning How to Maximize the Value of Your Business

Posted by Jane Johnson on Mon, Nov, 30, 2015 @ 01:30 PM

Business Transition Academy is pleased to invite you to attend our webinar with the acclaimed author of The Wright Exit Strategy, Bruce Raymond Wright. Bruce will be a guest presenter on our webinar Proven Strategies to Maximize Your Business Value and Beat Your Competition on Dec 10, 2015 at 4PM EST. 

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Topics: Maximizing Business Value, business transfer, business value, increase business value, business transition, increase the value of your business, building business value

The Best Gift a Business Owner Can Give: Contingency Planning

Posted by Jane Johnson on Wed, Nov, 18, 2015 @ 03:47 PM

As a business owner, are you prepared for the unexpected? Whether it is a serious illness, incapacity, accident, or untimely death, will your business be able to continue on without you? Not sure? Then, you need a contingency plan.

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Topics: exit plan, contingency plan, business transition, business transition planning, contingency planning

Not Surprising … Majority of Business Owners Are Not Prepared for the Future

Posted by Jane Johnson on Thu, Nov, 05, 2015 @ 02:30 PM

A recent survey of American baby boomer business owners shows that they are not prepared to transition the ownership of their businesses to others1:

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Topics: exit plan, transition planning, business transition, business owners planning, baby boomer business owners, business owners not prepared