-
Helping business owners grow their companies and transition with confidence, added value and complete control.
Category Archives: Exit Options
Investing in Your Own Business: Will It Pay Off?
A few months ago a business owner asked me to evaluate an acquisition offer for his small business. It was from a larger company headquartered in a different region of the country. They had a branch operation in his city, and wanted to expand … Continue Reading →
Posted in Building Value, Business Perspectives, Economic Trends, Entrepreneurship, Exit Options, Exit Planning, Life After, Selling a business, Strategy and Planning
|
Tagged Boomer Bust, business ownership, business planning, business strategy, entrepreneurs, entrepreneurship, exit planning, exit strategies, financial, selling a business, small business, small business advice
|
Leave a comment
Key Man Policies May Not Cover a Buy/Sell Agreement
Over the last few weeks, I’ve had a number of conversations with clients about key man insurance. Let me say at the outset that I don’t sell insurance, and have no financial stake in whether any client has coverage or … Continue Reading →
What is Your Company Worth? II
Last week we discussed how business owners frequently use hearsay or incomplete information to estimate the value of their companies. They give the number to their financial planner, or include it on a personal financial statement for their banker, neither of … Continue Reading →
The Gen X Business Buyer
Generation X’ers aren’t mini-Boomers. Raised in a rapidly growing economy by parents that approached child rearing as a competitive activity, they saw more, did more, and were given more than their parents could have dreamed of. I took my first … Continue Reading →
The X Factor
There are two sides to every business transaction, a buyer and a seller. For most of the last 50 years in America, the Baby Boomers have been the biggest buyers in history. They bought homes and cars to spur the … Continue Reading →
The (pen)Ultimate Hire
Every sane business owner will acknowledge that there is a point at which his or her own skills are no longer sufficient to grow the business beyond its current level. The revenue point where that happens differs by industry, but it frequently begins at … Continue Reading →
Another Lost Generation?
I had the opportunity to present “Beating the Boomer Bust” twice this week, one of which was recorded for a Texas Public Radio show this weekend. For those who aren’t familiar with the piece, it discusses the massive changes that … Continue Reading →
Three Circles of Family Business
What is a “Family Business?” A large percentage of small companies have some family involved. For most, it is simple a case of providing employment to family members. If the founder of the company is also the principle revenue generator, … Continue Reading →
Posted in Entrepreneurship, Exit Options, Exit Planning, Leadership, Strategy and Planning
|
Tagged business ownership, family business, small business advice
|
3 Comments
Lifestyle or Legacy – Part 4
Last week a client told me “You are wrong. I have a lifestyle business that is ALSO a legacy business.” Sorry, but that doesn’t fly. He has built a good company, and continues to improve it. Be he is not driving … Continue Reading →
Posted in Exit Options, Exit Planning, Exit Strategies, Leadership, Life After
|
Tagged business ownership, business strategy, leadership, small business
|
Leave a comment
Lifestyle or Legacy – Part 3
Let’s turn to the Legacy Builders.They are the business owners who have achieved Lifestyle status (as defined in the last posting) but continue to work hard to build their businesses. Their objective is a company that does far more than … Continue Reading →
Posted in Exit Options, Exit Planning, Leadership, Life After
|
Tagged business ownership, business strategy, entrepreneurship, leadership, small business advice
|
1 Comment
Lifestyle vs. Legacy – Part 2
Let’s define a lifestyle business. For our purposes, I’ll start with what it isn’t. It’s not the small retail store being run by someone who doesn’t need the money. A few years ago I was on a judging panel for a … Continue Reading →
Posted in Exit Options, Exit Planning, Leadership, Life After
|
Tagged business ownership, entrepreneurship, small business advice
|
Leave a comment
Lifestyle vs. Legacy – Part 1
There are three types of business owners. The first, which encompasses the vast majority of small businesses, is the one who simply wants to make a living from running his or her business. They dream of the day that they … Continue Reading →
Posted in Entrepreneurship, Exit Options, Exit Planning, Leadership, Life After
|
Tagged business ownership, business strategy, entrepreneurship, small business advice
|
Leave a comment