Business Tips And Advice
Tips and advice from Jim
Financial Fraud: How it Can Cripple Small Businesses
Today’s post comes from my friend and guest blogger Eric Williams, a business broker with Codiligent, LLC. Eric wrote the following: “I'd like to share a cautionary tale about financial fraud - something that is more prevalent than many people believe. I have a friend...
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Four More Key Metrics to Measure and Manage
This post continues our discussion of key metrics that business owners should focus on to increase profitability. The information in this post comes from a newsletter published by Bill Billingsley, a business broker and owner of The CBB Group, Inc. Below the Line...
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If You Don’t Measure It, You Can’t Manage It: Key Metrics for Every Business Owner
Management consultant Peter Drucker famously said “If you can’t measure it, you can’t manage it.” Bill Billingsley is a business broker and owner of The CBB Group, Inc. After years of working with small business owners, Bill has found that owners often get caught up...
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More TSA Considerations
In addition to the information about Transition Service Agreements (TSA) in the previous two posts, here are three more important points that you should discuss during the transition process. Major Projects The seller should identify major projects that are in...
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What Are the First Steps to Prepare for a TSA?
The seller and buyer should start talking about the Transition Service Agreement (TSA) early in the deal process. Ideally, the seller and buyer would involve a wide variety of people in early deal discussions. However, this is often not possible due to the need for...
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Do You Need a Transition Service Agreement?
When selling a business, one issue that often is overlooked is whether any post-closing services need to be provided under a transition services agreement (TSA). This is particularly true when the sale is of a portion or division of a business rather than the entire...
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Learn What Motivates Your Employees & Maximize Your Profits
(Guest post from Eric Williams, business broker and consultant with Codiligent, LLC) Does your business struggle with unmotivated employees and high turnover? Are you concerned that if you were to try selling your business a buyer would object to your personnel...
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Why Sellers Should Pursue a Strategic Buyer
As we discussed earlier, sellers should be prepared to deal with either a financial buyer, who views the acquisition purely for its potential return on investment, or a strategic buyer, who views the acquisition as having potential to enhance an existing business....
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Additional Due Diligence Preparation
Continuing from our previous post last week, here are some additional areas of due diligence preparation that sellers should anticipate in their pre-sale planning. CUSTOMER BASE PROFILE The buyer will likely want to know about your customer or client base. To protect...
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Do Your Due Diligence Homework
Getting ready for due diligence requires the seller to plan ahead, but the investment of time can pay off in several ways. First, anticipating the types of information that a buyer may want will help minimize delays that can lead to a loss of momentum in negotiations....
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