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7 Bulletproof Steps to Sell Your Business Fast
September 12th, 2012 •
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Selling a business is a complicated process. Following a plan simplifies the process and increases the chances of a successful sale. If you want to sell your business fast, then you must follow a plan and execute it well.
How to sell your business fast – The seven steps:
Prepare a business summary on your business
Market your business aggressively
Screen buye
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How to Increase the Value of Your Business by Paying Off Equipment Leases
September 5th, 2012 •
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Should I pay off my equipment lease before putting my business on the market?
Deciding to pay off your equipment lease before selling your business is primarily a mathematical decision with one unknown variable, the multiple. Lets look at a quick example to illustrate the math:
Example:
Asking price of business is $250,000
Annual adjusted profit of business is $100,000
Current busi
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Investing in New Equipment When Selling a Business
September 4th, 2012 •
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Should I buy new equipment before I sell my business?
As a general rule, you should not invest in new equipment or other hard assets when in the process of selling your business, unless it immediately increases your cash flow. Improvements to cash flow can come from both increased revenue and decreased expenses.
Why shouldn't I invest in new equipment or other hard assets? Reason: You are high
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I can’t decide if I want to buy this Business
January 31st, 2012 •
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I found a business I like but am not sure if this is the business I really want to buy. What should I do? Am I making the right decision?
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62 Reasons to Hire a Broker
January 31st, 2012 •
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Reasons for Sellers Hiring Brokers
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When to Release Confidential Information to a Buyer
January 31st, 2012 •
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What documents should I show to buyers before receiving an offer?
So you are talking with several interested buyers and a few of them asked you for tax returns and bank statements and some other sensitive information. What should you do? How should you handle this situation? Should you show these documents without having an offer in hand?
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These 2 Deal Killers are Responsible for the Death of over 50% of All Deals
January 31st, 2012 •
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There are two deal killers that kill more than half of all deals. What are they and what can you do to fight them?
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A Lazy Man’s Secret Recipe for Selling a Business the Easy Way
January 31st, 2012 •
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Do you want to know the secret of selling your business the easy way? Are you getting frustrated dealing with buyers just asking for “more information”? Are you tired of buyers who inquire about your business, only to not return your phone calls or emails? What do you do when a buyer calls or emails and says “send me more information?”
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Brokers that lie and say they have a buyer for your business
January 31st, 2012 •
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"I have a buyer"
A broker called me and said the magic words “I have a buyer”. What should I do? Do you think they really have a buyer? Do I have to pay them a fee?
What should I do?
Say this “That is great Mr. Broker. Would you mind if we did a short one-party agreement? Not a non-exclusive agreement but just a one-party agreement? As soon as I sign it, can you please fax me their NDA
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Prequalifying Your Business for Bank Financing in 10 Minutes
January 31st, 2012 •
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70% of small business sales involve some form of seller financing. Less than 5 to 10% of business sales involve bank financing. Why is bank financing so hard to get? How do I know if my business qualifies for bank financing?
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How to Eliminate Wasted Time with Unqualified Buyers
January 31st, 2012 •
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That title caught your attention huh? Well unfortunately, there isn’t a magic genie that can tell when a buyer is serious about buying your business, but there are clues to look for that are almost as accurate.
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How to Respond to Buyer Inquiries
January 31st, 2012 •
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You are advertising your business. The ads are placed. You are ready to talk to buyers. Now what do you do when you talk to a buyer on the phone or get an email from the buyer?
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How Many Buyer Inquiries Should I be Getting
January 31st, 2012 •
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Ok, I have my business advertised for sale. About how many responses should I be getting per month?
Unfortunately, it is often quite difficult to predict how many responses you should be getting on your business for sale. It does depend on a lot of variables.
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Did my Buyer Die?
April 20th, 2011 •
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Day #1
"Wait, I have a buyer, I want to see what happens with this buyer before I do anything." (Seller talking to us)
Day #5
Seller talks to buyer and they schedule a meeting for next week.
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Lease Assignments and Transfers
April 15th, 2011 •
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The lease is an integral part of the sale process. The landlord or lease can be one of the two biggest deal killers when selling your business, the other being your financials. It certainly pays to properly handle the assignment or transfer of your lease.
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How Long Will it take to Sell my Business?
April 15th, 2011 •
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I just put my business on the market. How long should it take to sell? Is this time period pretty accurate?
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How to Prescreen Buyers
April 15th, 2011 •
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Should you prescreen buyers?
If you chose to prescreen them, how should you go about doing it and when?
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How to Renegotiate your Lease
April 15th, 2011 •
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Are you paying too much in rent?
Have you tried negotiating your rent with the landlord but had no luck?
If so, read this article on what you can do and your chances of success.
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Preparing for Due Diligence
April 15th, 2011 •
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You are serious about selling your business. You want to do everything you can to ensure that the sale goes smoothly. What can you do to improve the chances and make the process go by smoothly?
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Preparing financial statements when selling
April 15th, 2011 •
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You have invested many years in starting, running, and operating your business. To maximize the value of your company you must position it in the best light. One of the most important things you can do to maximize the value of your company is to clearly organize and reconstruct your financial statements.
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Basics of seller financing
April 15th, 2011 •
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According to statistics, nearly 80% of small businesses include some form of seller financing. What is seller financing and should you consider it? This short article will address these questions and help you determine if you should finance a portion of the sale.
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The Truth About Brokers that say they have someone that wants to buy your business
April 15th, 2011 •
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A broker called me and said the magic words “I have a buyer”. What should I do? Do you think they really have a buyer? Do I have to pay them a fee? What should I do?
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How to Sell a Business Concept
April 15th, 2011 •
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What is a "business concept"? A business concept is an idea that can be used for commercial purposes and typically centers around a product or service that can be sold for money. A good example of a business concept would be the "magicJack". The magicJack is a telephone product that enables people to make low-cost phone calls using their internet. The Magic Jack has been proven to work and has so
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How to Sell a Financial Planning Business
April 15th, 2011 •
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Licensing - The big limitation. Because most buyers of businesses do not have the proper licensing to operate a financial planning business, they may not be suitable candidates. If your business requires a Series 7 license, then it is best to target individuals who already hold these designations. If the licensure is fairly easy to obtain, then the business will be much easier to sell.
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