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Working with Buyers Can Take Patience and Understanding

The best advice available on the subject of buyer relations is to exercise patience and understanding.  The relationship between a buyer and seller can complicate the situation and frustrates everyone involved. It can make for hard-to-close transactions or, worse, lost deals. The seller is emotional because the business that is up for sale is his…

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Choosing the Right Business Broker

Unless a business broker has “walked in your shoes,” he can never fully understand what a seller will go through emotionally or psychologically.  While there may be successful business brokers who have never sat in an owner’s chair, prior ownership experience adds an important element that can make a difference.  A good broker has a…

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10 Steps to Selling a Business

Selling a business is one of the most important events in a business owner’s career.  While each transaction is unique, knowledge of the complete process will help get to closing. Step 1: Business owner decides to sell business The first step to selling a business is to decide to sell.  There are many reasons someone…

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Making a Great First Impression

The marketing package your broker creates is the first interaction a prospective buyer will have with your business and is the prime validation of the old adage, “You can only make a first impression once.” The marketing package will include financials and information about employees, assets and how the business operates, but a prospective buyer…

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Cash Flow is King

Laid off from his corporate job due to a reduction in force, Steve went to work for a flooring company. He liked both the work and his boss so much he gave up his plans to re-enter the world of big business and stayed. When his boss decided to retire, Steve bought the business. The…

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Fail to Plan: Plan to Fail

When the alarm went off at 2:00am one cold, February morning and he heard the weather report on the radio–another four inches of snow and ice– all Rob Bentley wanted to do was pull the covers over his head and go back to sleep. After 17 years of running his bakery, Rob was tired. He…

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Increase the Value of Your Company Before You Sell It

Every business owner wants to get the most they can for their business if they decide to sell it, so it’s disappointing when the sales price is lower than they expected. It can be hard for them to understand that the value of the business isn’t directly related to the hard work they’ve put in.…

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The Self Employment Fairy Tale

I don’t know you, but one thing I know is that being self employed has been easy and highly profitable from the beginning of your self employed journey.  You have had incredible success, you were filled with passion and purpose along the way, and your staff or employees added so much value that sometimes it…

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Telling Employees You’ve Sold the Business

Telling your employees you’ve sold your business may be one of the most difficult meetings you’ll ever have. Even if your small business doesn’t have family members working there, employees can feel like part of the family. You’ve worked closely with them, often for years. Now you have to tell them you’re selling the business.…

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Dream of Being Your Own Boss?

If you’ve ever thought about buying a business, you’re one of many people who have dreamed of being their own boss. Buying a company could be one of the best decisions you ever make, one that leads to independence and the potential for big rewards. But running your own business can also be challenging and…

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