Done is better than perfect

Did you miss the perfect time to sell your business?

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August was a rollercoaster ride for stockholders. Triple digits wins followed by even larger losses left the average investor reeling and were a good reminder that markets move in both directions. Valuations of privately heldp business have…
I can make you a gob of money

4 Steps To Finding Your Sell-By Date

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Most business owners think selling their business is a sprint, but the reality is it takes a long time to sell a company.  The sound of the gun sends blood flowing as you leap forward out of the blocks. Within five seconds you’re…
mount fuji

How To Scale Up Your Service Business

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Increase the value of your company by training others in your area of expertise. It can be tough to grow a service business. Clients are typically buying your expertise, and if all you have to sell is time, the size of your business…
spider web

4 Traps To Avoid When Selling Your Company

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Business owners have been known to refer todue diligence as "the entrepreneur's proctology exam." It's a crude analogy but a good representation of what it feels like when a stranger pokes, prods, and looks inside every inch of your business. Most…
Sunlight

Business Valuation

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Business valuation goes beyond simple mathematics, but to get some idea of what your business might be worth, consider the three methods below.  Your business is likely your largest asset so it's normal to want to know what it is worth.…
hour glass time

What a Study of 14,000 Businesses Reveals About How You Should Not Be Spending Your Time

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In an analysis of more than 14,000 businesses, a new study finds the most valuable companies take a contrarian approach to the boss doing the selling. Who does the selling in your business?  My guess is that when you’re personally…
Blood Pressure

A Blood Pressure Test for Your Business

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When was the last time you had your blood pressure tested? Taking your blood pressure is one of the first things most doctors do before treating you for just about anything. How much pressure your blood is under as it courses through your…
flowers diversified

6 Reasons Not To Diversify

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Diversification is a sound financial planning strategy, but does it work for company building? How does Vitamix get away with charging $700 for a blender when reputable companies like Cuisinart and Breville make blenders for less than half…
Bugatti

What’s so special about the million-dollar mark?

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If you're wondering when is the right time to sell your business, you may want to wait until your company is generating $1 million in earnings before interest, taxes, depreciation, and amortization (EBITDA). The million-dollar mark is a…
treasure chest

The Hidden Goal of the Smartest Business Owners

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What are your business goals for the year? If you’re like most owners, you have a profit goal you want to hit. You may also have a top line revenue number that’s important to you. While those goals are important, there is another objective…