March 9th, 2010 Posted by Greg Stein
The purpose of a due diligence period is to allow the Buyer to fully investigate all of the claims, warrants, and representations a Seller has made regarding the status of the company. Are the financial statements accurate? What protections are in place to lock in key customers, employees, technologies, and other assets upon which the value of the company is based? What are the internal structural components, processes and […] Continue Reading…
Posted in Strategic Advisors, Selling a Small Business, Sell Your Business, Professional Advice, Exit and Answers, Exit Stories, Emotional Selling | No Comments »
March 5th, 2010 Posted by John Ovrom
As we closed down 2009 and reflect on the year’s successes and failures, I look towards 2010 with some minimal optimism. That’s not saying that I had a great year, on the contrary, but more as an acknowledgement that I’m a typical optimistic entrepreneur. This was a tough year for everyone, maybe not so much for the big banks who received billions of bail out money, but definitely for […] Continue Reading…
Posted in Sell Your Business, Selling a Small Business, Professional Advice, Exit Stories, Emotional Selling, Exit and Answers, Buy a Business | No Comments »
March 3rd, 2010 Posted by John Ovrom
I am working with two businesses right now that have family members involved in the day to day company operations. One is the more traditional style with a single family member owning/controlling the company and their family member working in the company. In the other situation the family members are partners (equals) in the business with no majority ownership control by any party.
Partnerships with anyone can be very […] Continue Reading…
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January 13th, 2010 Posted by John Ovrom
I’m sorry to be the one to tell you but the internet has been around now for over 20 years, it’s not going away. It’s time for the small business owners to embrace it. The day of the hand held compass will forever be replaced with the GPS. The good old maps that dried up in our car glove compartments and ripped apart as we tried to unfold them […] Continue Reading…
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December 23rd, 2009 Posted by John Ovrom
Simply put, earn outs are when a seller receives additional compensation from the buyer only if pre-determined bench marks are hit in the future by the new owner. The intent of the buyer is not to hand over all the cash up front at the date of purchase, but for an installment type sale based upon the future successes of the company.The risks, or actually reality more often than not, is that the new […] Continue Reading…
Posted in Sell Your Business, Selling a Small Business, Professional Advice, Exit Stories, Emotional Selling, Exit and Answers, Buy a Business | No Comments »
