Understanding the Odds of Selling a Business
When it comes to buying or selling a business, we often get asked two common questions: “How many businesses are for sale?” and “What percentage of businesses on the market actually sell?” To get a sense of the market, it’s important to break things down by business category. The industries that make up the majority of small to mid-sized business sales include: manufacturing, wholesale trade,...Read More
The Entrepreneur: Understanding Strengths and Weaknesses
Entrepreneurs are typically dynamic and driven individuals who play a critical role in driving innovation. However, to succeed, they must leverage their strengths while being mindful of their weaknesses. By understanding both, entrepreneurs can maximize their potential and build more sustainable businesses. Strengths of Entrepreneurs Flexibility and Positive Attitudes Entrepreneurs are highly...Read More
Does Your Company Have an “Orphaned” Product or Service?
Many businesses have a product or service that’s performing reasonably well, perhaps even thriving, but doesn’t quite align with the company’s core offerings. It’s often called an “orphaned” product—a good or service that is disconnected from the company’s main focus. If you find yourself in this situation, don’t panic. It’s more common than you might think. In fact, there are many buyers,...Read More
Resolutions to Reinvent: Transform Your Business Approach This New Year
Image via Pexels The New Year stands before you – meaning this is a perfect moment to set ambitious objectives and outline strategic plans for your business. Use this time to assess past performances and craft resolutions that will guide your company to heightened productivity and profitability. It’s an opportunity to refine old methods and adopt innovative practices that can significantly...Read More
Leveraging Customer Feedback to Improve Your Business
If your business interacts with customers, it’s inevitable that at some point, you will receive customer complaints or negative feedback. The key to turning these situations into opportunities is how you handle them. Ignoring or dismissing customer complaints can damage your brand’s reputation and customer loyalty. However, addressing these issues effectively can improve your operations,...Read More
3 Steps to Sell Your Business Quickly and Efficiently
Before delving into the specific steps that benefit business owners who are looking to sell quickly, it’s crucial to understand the buyer’s viewpoint. For many buyers, purchasing a business is a once-in-a-lifetime event, often involving significant personal and financial risk. Therefore, sellers must take proactive steps to ensure their business is as appealing and risk-free as possible....Read More
You Have a Buyer for Your Business – Now What?
While learning that you have a serious buyer for your business may feel like a cause for celebration, it’s important to hold off on the champagne. The journey from a buyer expressing interest to a finalized sale involves several steps, and your business broker or M&A advisor will play a crucial role in guiding you through the process. Step 1: Preparing the Offer Once a buyer is genuinely...Read More
How to Master Small Business Cash Flow as a Small Business Owner
Image via Freepik How to Master Cash Flow Management as a Small Business Owner Maintaining healthy cash flow is essential for success in the fast-paced world of small business operations. A strong cash flow can determine whether a business thrives or struggles. This article presents a variety of strategic approaches to help ensure your cash flow remains steady. From compelling accounts...Read More
Simple Tips for Being a More Efficient Business Owner
As a business owner, one of your ongoing priorities should be finding ways to save money. Ultimately, this will boost your bottom line and make your business more attractive to buyers. Let’s take a look at some strategies to run a more efficient and cost-effective business. 1. Consolidate Services for Better Deals There are many clever ways to save money, and some are easier than others. One...Read More
