Many business owners seem unable to let go of their company and wait too long.
Some lose their entrepreneurial drive and the business starts sliding. Or the market starts to change and the company loses value.
To get the maximum price, owners need to do some serious planning to prepare selling the business at its peak.
 Michael Marks, creator of […]
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Not all businesses need to have cutting edge technology, but a company can’t fall too far behind.
Buyers will be concerned if they must make a large investment in the latest technology to get the company to a competitive level.
A business owner should do the necessary research and purchase the technology to keep the company on par in its industry or be prepared to accept a lesser value for the business.
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The statement “with a little sales and marketing, a new owner could make a fortune with my business” has been heard over and over by prospective buyers.
The question of course is: “Mr. Business Owner, why haven’t you made that effort?” Buyers are not willing to pay the business owner for their future efforts and investment necessary to grow the business.
Business owners must take those steps themselves, which not only will increase their revenues and profits in the short term, but will greatly improve the value of […]
Some businesses can’t survive without the owners trying to do everything themselves. And there are no key employees in place to help manage the operations.
Buyers for businesses like these may be concerned if they themselves can’t replace the skills and experience of the owner. As a result, these businesses may have very little value to anyone else.
Business owners who don’t delegate need to make a strong effort to have experienced key people in place before they ever try to sell their companies.