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Wealth Management: An Overview

Before even asking questions about what wealth managers do and where to find one, most people will want to know if wealth management is even relevant for their business. Below are common questions, and answers, about wealth managers. DO YOU NEED ONE? You don’t have to have to be a Rockefeller to secure the services of a wealth manager. Any business owner who is about to have a “liquidity event” should seriously consider retaining a wealth manager. WHAT DO THEY DO? Wealth management... Read more »

When is the Right Time to Sell Your Company?

Most business owners have a thought in back of their minds that they will at some point (hopefully), sell their business for lots of money. Who can blame them? After all, isn’t this part of the allure of getting into your own business? While there are drastic differences between selling a business and a piece of property, there are certain common fundamentals with “market timing” being the most critical. The good news is that unlike real estate when there are cycles of seller and... Read more »

Sell the Business: Need a Business Broker?

Most company owners sell the company themselves. Whereas homeowners use brokers (Realtors) 90% of the time, sellers of companies use brokers only about 30% of the time. When is it a good idea to use a broker? If the seller thinks that it will be difficult to run the company AND put in the time and effort to sell the company, then retaining a business broker is a good idea. This is the most compelling reason we know. Other reasons to hire a broker: 1) The seller recognizes that selling is not... Read more »

Your Company: To Sell or Not to Sell

Personal events involving the owners or senior management are what usually raise the question: is it time to sell the company. For the most part, the decision to sell is made for personal reasons. We discuss the most common reasons for a sale and goals of a sale below. 1) Fatigue: the owner-CEO wears several hats. After many years, some parts of the job remain enjoyable, but others are a burden. Many CEOs would like to stay active in the business, but want to devote energy only to the tasks that... Read more »

Sell the Business: What Price?

With so many other things to keep track of when selling a business it’s hard to keep in mind all of the factors that will affect purchase price and deal terms. Below I highlight and discuss some of the most important factors. Recent Performance: Over the past 2-3 years is the business growing, flat, or declining? For example, “Business A” made $200,000 last year and $100,000 the year before. “Business B” made the same $200,000 last year, but $300,000 in the year prior.... Read more »

Sell the Business: Financing Basics

Most small business sales are financed, at least in part, by the sellers themselves. Offering seller financing puts the seller in a stronger position to get a better price and a faster sale. Buyers nearly always need seller financing. Their advisors strongly recommend it. Seller financing acts like a bond for performance to assure that the seller will live up to the promises made to the buyer during the sales process. Seller financing is seen by most buyers as an indication that the seller has... Read more »

How to Choose a Business Appraiser

Like everything else in life, the answers to these two questions are more complicated than most people expect. The principles of selecting a business appraiser, however, are fairly straight forward. Both sellers and buyers need business appraisals. There are many varied reasons for needing to know what a business is worth. They range from selling to divorce, from tax planning to partnership disputes. Chances are that you already need a business appraisal, or you wouldn’t be reading this article.... Read more »

Do You Really Need Excel VBA Training?

Recently there has been a tremendous outcry in the Office community swirling around the rumour that Microsoft is removing Visual Basic for Applications from future versions of Office. Business managers are wondering if they should bother with Excel VBA training programs if the macro language is on its way out. To paraphrase Mark Twain, the rumours of VBA’s death have been greatly exaggerated. Office 2008 Ships Without VBA The controversy began when the latest version of the software suite for... Read more »

How to Experience Business Growth through Employee Satisfaction

If you want to experience business growth, you will need to foster employee satisfaction. Happy employees equal loyal laborers. When your employees are happy, your customers are more likely to be happy, and you will be happy with your business. So, how do you make an employee happy, especially if you are just starting out? Unless you have a wealthy uncle, you are not yet in a position to offer much in the way of employee incentives. Fortunately, fostering worker loyalty does not have to cost money. First,... Read more »

Tips For Running An International Business Company

International business company owners face one common challenge in their organizational structure: language barrier. While it is true that transport links and globalization of business have made the world a smaller place, language barrier still exists, and it doesnt look like its going to go away soon. So how does an international business company owner overcome such a major hurdle in business? The key of course is translation. If you want effective global operations for your international business... Read more »

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