Archive for the ‘Selling a Small Business’ Category
Monday, March 15th, 2010
I have never met a business owner who believed his business to be worth less than $5,000,000, even if they were generating $100,000 in annual turnover. It is an odd truism that I suspect reflects the eternal optimism and frontier spirit that embodies the American entrepreneur. “I started this company. I built it from the ground up. It is worth $5 million; at least.”
There is an entire niche industry […] Continue Reading…
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Tuesday, March 9th, 2010
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…
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Friday, March 5th, 2010
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…
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Wednesday, January 13th, 2010
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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Wednesday, December 23rd, 2009
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…
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