Archive for June 2017

Three Important Keys to Being a Successful Business Owner

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 Your Business? 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 be…

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When Is It Time to Sell Your Business? 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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When Is It Time to Sell Your Business? Part 1

A business owner can spend his entire career developing a business. It’s his “baby.” Selling can be the most difficult decision a business owner will make. It is filled with emotions similar to sending a child off to college or giving a daughter away at her wedding.  The timing and reasoning for selling must be…

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Are Social Media Accounts an Asset When 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, too. …

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How To 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 Determining Selling Price

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 efforts. …

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The Process: Selling a Business

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 sheet.…

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