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By: Amy Luoma
Once you have made the decision to sell your business, you should take some time to think about possible buyer questions you may be asked. Potential buyers don’t know the business or the industry like you do, so their ability to ask detailed questions is the best way for them to determine whether or not …
Common Questions Business Sellers Should Be Ready to Answer Read More »
By: Amy Luoma
When selling most things, it’s common to broadcast it to as many people as possible to help generate the greatest amount of interest. This is the exact opposite approach that should be taken when selling a business. The business sale process should be kept extremely confidential. A lack of confidentiality when selling a business can …
Why Keeping the Sale of Your Business Confidential Is Important Read More »
By: Amy Luoma
As a business owner, you should always be planning the future of your business. There will come a time when you want to retire, do something new, or just step away. Creating an exit strategy and knowing who will own your business after you alleviates a lot of stress, and helps you prepare mentally and …
By: Amy Luoma
When someone imagines owning their own business, they tend to see themselves building something on their own from the ground up. Owning your own business is the fastest way to financial independence, but starting something from scratch can be risky and expensive. Buying an existing business can often be the better option – you still …
By: Amy Luoma
When you are the owner of a business, it is always a good idea to be questioning what’s next, not just for the business, but for yourself as well. After thinking it over, you may realize that you want to sell your business. This decision is not an easy one, and you’re bound to have …
The Right Questions for Business Owners Thinking of Selling Read More »
By: Amy Luoma
Does this sound familiar to you? As a successful entrepreneur, you’ve never been someone who has struggled to make decisions. But when it comes to following through on selling your business, here you are, unable to fully commit.
By: Amy Luoma
The finishing line to buying the business you want is in sight, and you want to get it done ASAP. But you can’t shorten due diligence, an important and complex part of the purchasing process.
By: Amy Luoma
After an agreement is negotiated to purchase a business, the due diligence process is started. The goal is to identify any fatal flaws, verify that the information is reasonably accurate, and confirm that this business will work. Professional advisers are invaluable during this step.
By: Amy Luoma
When you visit your accountant, do they dread your visit? Buyers are more interested in businesses with a history of reliable financial performance with stable, growing revenue and earnings. Disorganized record keeping is the biggest barrier when it comes to selling a business.
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