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Many of the upcoming buyer generations can’t or won’t run Baby Boomer businesses. This is (or should be) of concern to sellers everywhere. Generation X and the Millennials are not attracted, as a group, to many of the businesses run by Baby Boomers. We’ve discussed the macroeconomic trends, demogra Read More

In most businesses, employee retention is a material factor in valuation and transferability. The ability of a buyer to assume control of a fully-functional organization has substantial influence on his or her perception of a company’s value. Read More

For many owners, their biggest concern in an exit plan is maintaining control. Whether they seek to sell to employees, family or a third-party, there is a fear that, once started, the process will have its own rules and momentum. Read More

“If someone offered me the right price, I’d sell in a minute!” Exit planners and business brokers hear it all the time. “Anything is for sale if the price is right!”

What is the “right” price? Of course, you can fantasize about a windfall from a buyer who has far more money than brains Read More

In my last post we discussed quality of earnings audits from a revenue perspective. Customer concentration, marginal lines of business and contracts are the three most common revenue traps. If you are comfortable with your company’s strength and stability as regards to revenue, it’s time to look at Read More

If you're handing down a family business you should consider these questions: What will your role in the company be? Is your successor ready, willing and able to handle change? Does the company have the financial strength to thrive without your personal signature? Read More

“Nothing will change.” It is almost de rigueur for an acquirer to include that in his or her opening comments to the incumbent staff of a just-purchased business. Sometimes it is the seller’s attempt at making folks feel better. “Don’t worry. They promised me that nothing will change.” In the momen Read More

“The purpose of middlemen in the marketplace is to provide time and place utility.” I remember the light bulb going on in Economics 101 when my professor said that. Suddenly, I understood the concept of added value. Someone had to get the product to the customer. Read More

Planning your exit from a business is a process of telling secrets. For many owners, it is the most terrifying part of selling. Most business owners are very cautious about with whom they share their exit plans. The logic is intuitive. The more the information is shared, the bigger the chance is th Read More

A substantial number of business owners are still resisting technology. Clearly, they can’t be doing so in the expectation that it will go away. The only possible rationale is that it could hurt their business. One laggard in adopting technology was professional sports. For decades, sports teams tr Read More