There are many things that you should be doing to deal with the COVID-19 pandemic. At the top of the list is to be proactive. Now is the time to focus and be thinking about how best to position your business after the economy has returned to something near normal. Now is not the time […]
Don’t Panic: 6 Tips and 90 Days to Protect Your Business
There can be no way around it, Inc. contributor Brian Hamilton’s April 2020 COVID-19 centered article, “6 Actions to Take in the Next 90 Days to Save Your Business,” isn’t pulling any punches. Hamilton, Founder of the Brian Hamilton Foundation, believes that the next 90-days could be make or break days for business owners looking […]
Don’t Panic: Questions for Helping Businesses Survive the COVID
Developing Your 90-Day Plan Those who want to make sure their businesses survive this pandemic will want to achieve a laser-like focus. It is important to realize that the forced downtime triggered by the pandemic affords you the opportunity to work on potentially neglected aspects of your business. Summed up another way, now is the […]
Don’t Panic: Business Buying and Selling During a Pandemic
Don’t Panic: Business Buying and Selling During a Pandemic Previously, we’ve given you some important information about what you can do get assistance for your business during this trying time in our country. As the crisis grows and lingers, dynamics necessarily change for both buyers and sellers in the marketplace. What we continue to tell […]
Look For The Helpers
“When I was a boy and I would see scary things in the news, my mother would say to me, ‘Look for the helpers. You will always find people who are helping.’” – Mr. Rogers We’re all in this together! So, we wanted to put together some information for you to have on hand whether […]
SPECIAL REPORT: COVID-19 – 10 TIPS FOR WORKING FROM HOME
10 Tips for Working From Home In the past, a remote job was a dream job scenario for many office employees. In reality, the transition from office to home can be challenging and difficult to manage at first. In this blog, we will cover ten tips that will ease to transition to working remotely. The […]
SPECIAL REPORT: COVID-19 – FFCRA
Families First Coronavirus Response Act Passed What Employers Need to Know Over the weekend, the U.S. House of Representatives passed the Families First Coronavirus Response Act (the FFCRA). The FFCRA was sent to the Senate, with some amendments to the original bill. It was passed by the Senate and signed by President Trump on March […]
Checklist for Valuation
Checklist for Valuation Start with the business Value Drivers: Size, growth rate, management, niche, history Value Detractors: Customer concentration Poor financials Outdated M&E Few assets Lack of agreements with employees, customers, suppliers Poor exit possibilities Small market Potential technology changes Product or service very price sensitive Financial analysis: Market Value – comparables Multiple of Earnings […]
Determining Your Business’s Market Value
Determining Your Business’s Market Value You’re ready to sell your business and use the proceeds to help finance your retirement or your next venture. There are a number of ways to determine the market value of your business. Tally the value of assets. Add up the value of everything the business owns, including all equipment and inventory. Subtract […]
What is a Business Worth?
What Is a Business Worth? Many courts and the Internal Revenue Service have defined fair market value as: “The amount at which property would exchange between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having a reasonable knowledge of relevant facts.” You may have to […]
Creating Value With Privately Held Companies
Creating Value in Privately Held Companies “As shocking as it may sound, I believe that most owners of middle market private companies do not really know the value of their company and what it takes to create greater value in their company … Oh sure, the owner tracks sales and earnings on a regular basis, […]
SO YOU JUST SOLD YOUR BUSINESS, NOW WHAT?: DEALING WITH THE EMOTIONAL FALLOUT
Dealing with the Emotional Fallout of Selling Your Business “Congrats on selling your business,” a longtime mentor said the day after I signed the paperwork. “Now get ready for a depression.” That was seven years ago. At the time, I was confused by this remark. I had just made what felt like a pile of […]
SO YOU JUST SOLD YOUR BUSINESS, NOW WHAT?: PLAN FOR YOUR FAMILY’S FUTURE
Plan for Your Family’s Future Now that you have made some money from the sale of the business, you should scrutinize any plans you have made for your family’s future and for your estate. Although you may have already taken care of some of the following items, you will want to revisit these eight: Make […]
SO YOU JUST SOLD YOUR BUSINESS, NOW WHAT?: MINIMIZE YOUR TAXES
Minimize Your Taxes on the Sale One of the major considerations connected with the sale of your business concerns minimizing taxes that result from the disposition. Here are 10 ways to do this: Structure the Transaction Beneficially If you are getting stock instead of cash from the sale of the company, you should be able […]
SO YOU JUST SOLD YOUR BUSINESS, NOW WHAT?: PROTECT YOUR PROCEEDS
Protect Your Proceeds The most important step you should take after successfully selling your business is to protect the proceeds. Here are three ways to do that: Diversify Your Holdings If you received cash from the sale, immediately consider a diversification plan for the proceeds. Think about a combination of mutual funds, municipal bonds, money […]