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 »
December 15th, 2009 Posted by John Ovrom
We have a few more weeks left before not only this year is over, but a complete decade. Wow, think about that for a moment. From the great start of 2000, when we were coming out of the late 90’s low, until the tough end of 2009, it has been a classic example of a typical business cycle.
What a wild ride it has been. Any business that has […] Continue Reading…
Posted in Strategic Advisors, Selling a Small Business, Sell Your Business, Exit Stories, Exit and Answers, Buy a Business | No Comments »
December 8th, 2009 Posted by John Ovrom
As we close down on 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 […] Continue Reading…
Posted in Sell Your Business, Selling a Small Business, Exit Stories, Exit and Answers, Emotional Selling, Buy a Business | No Comments »
December 2nd, 2009 Posted by John Ovrom
Feelings are obviously very personal and will vary with each situation. By no means am I an expert on feelings, on the contrary, I have been called insensitive, frank, blunt, uncaring, unemotional, and a few more that I can’t repeat. My intent here is not to tell you how you are going to feel but more an overview of the feelings that you might experience. I ran my business with my head and if […] Continue Reading…
Posted in Selling a Small Business, Sell Your Business, Exit Stories, Exit and Answers, Emotional Selling | No Comments »
December 1st, 2009 Posted by John Ovrom
The short answer is no you are not legally required to use an escrow when selling your business. Escrow is a process where a neutral 3rd party oversees the transaction and provides assurance that no funds or title will exchange hands until all of the instructions in the transaction have been followed.
The escrow agent’s job is to follow the escrow agreement, hold any deposited funds and manage the documents until the change of ownership is complete. The escrow services are usually […] Continue Reading…
Posted in Strategic Advisors, Selling a Small Business, Sell Your Business, Exit Stories, Emotional Selling, Exit and Answers, Buy a Business | No Comments »
