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Before you Pop the Champagne Be Prepared for the Challenges

You have a deal to buy a business. Congratulations! But before the company is yours, there’s still a lot to do.   You’ve found the business you want and agreed to buy it. It’s important that you start the rest of the process knowing that, at times, it will be frustrating and exhausting for both…

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Three Important Keys

We are each unique. We have our own DNA, characteristics, and personalities. We are shaped by our individual life experiences and the things we’ve learned.  Regardless of those differences, there are three things we all need to build a business into a success story.   Good Communication Skills The ability to communicate is essential.  A…

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When Is It Time to Sell? Part 3

Do these reasons indicate the best time to sell for you?   Industry overview To know the future of an industry, it helps if you have a genie in a bottle to tell you the answers. If the industry is heading in a bad direction, it is time to evaluate the options though it would…

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When Is It Time to Sell? Part 2

These might be additional reasons the timing might be right. Health A sale is sometimes necessary due to the health of the owner.  Structuring a deal for a quick sale due to the owner’s health does not have to be for a lower price. A seller can set up a low down payment and an…

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Social Media: an asset to a business that is selling?

  In case you haven’t noticed, customers no longer just go to the mall and shop.  They now ‘google’ everything.  And then they may (or may not) just order what they are looking for online.  Whatever your business, however well-established you are, however impressive your website is, your business probably should be using social media,…

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Compare Businesses You’re Interested in Buying

You’re looking for the perfect business to buy. You find several that interest to you, so it’s important that you compare them.  How do you know which would be best?  Here are several important things to look at.   Financials – Obviously it’s important to take a close look at financials. They’ll give you a…

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Caution: Your Cognitive Bias is Showing…

  When you are ready to sell your business, a common psychological disorder that will interfere with you selling the business yourself is your cognitive bias.  A cognitive bias refers to the systematic pattern of deviation from norm or rationality in judgment. Your cognitive bias is totally understandable. You desire to maximize the return on your entrepreneurial…

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The Process: Seller

  By the time Peterson Acquisitions has found a buyer for your business, you’ve already prepared much of the paperwork a financial institution will need from you to loan money to someone interested in buying your business.  You’ve already supplied at least three years worth of the businesses tax returns, income statements and a balance…

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Is the Price Fair?

The bottom line is that a fair price for a business is the amount the seller is willing to take and the buyer is willing to pay.   But before that point is reached in negotiations, buyers want to feel comfortable that the asking price is fair.  The best way to do that is to…

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Preparation is Key When You Exit Your Business

There are many things that come into play–both emotional and financial–when you decide it’s time to exit your business. While the money received from the sale of your business can be life changing, make sure you’ve planned for the next phase of your life. Owners are deeply engaged in their businesses. They have invested a lot…

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