It is that time of the year when we take stock of what we accomplished, what we did not, and plan for next year. But chances are, you may be too focused on tasks you can check off when they are done and not the big picture goals or where they are leading you towards—or not. This article discusses the importance of taking-in the big picture—the goals, strategies, and tactics—as one develops and/or reviews the marketing strategy. It is that time of the year when we take stock of what we accomplished, what we did not, and plan for next…
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Time to Check-in and Frankly Address those Emotional Issues Seller’s remorse is real and not being emotionally prepared to transition the business is as dangerous as the value and financial matters. The emotional component of the sale/transition is worth considerably more than the money you will receive for the business. In this article, Edwin Mysogland shares the importance of addressing the emotional issues that arise when small business owners transition out of the business.
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By Understanding Entrepreneurial Business Owners Better An estimated seven million baby-boomer business owners will exit their companies over the next 20 years. How can valuation advisors assist these entrepreneurs’ transition? When you are ready to exit from your own company, how can you transition most successfully for both your maximum financial outcome, as well as your personal satisfaction? In this article, the author describes the process of personal transition planning and shares his thoughts on how to become a trusted transition advisor.
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Increased Transparency, More Automation, and More Access to Capital Rod Ebrahimi, a columnist for the Entrepreneurs section of Forbes, writes that “Thousands of miles away from Wall Street, some David-sized companies in Silicon Valley are cultivating new trends that will change people’s relationship with money.”
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The 7 Biggest Financial Mistakes Businesses Make Running a business should earn you an honorary degree given all you will learn, writes Brian Hamilton, co-founder and CEO of Sageworks, over at Inc. We live and we learn. In the time it’s taken me to build two companies, I have learned and more importantly, lived, these mistakes. I hope these pieces of advice can help both aspiring and existing entrepreneurs succeed in starting and running their own businesses. Here are the CliffNotes, the mistakes you should hear now and avoid. 1. Hiring in advance of revenue. There is a common expression: “Don’t…
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Business-For-Sale Market Heats Up So writes Angus Loden at The Wall Street Journal blog In Charge: On the challenges of entrepreneurs managing their businesses. Sales of small businesses rose 8% in the second quarter over the same period last year, hitting the highest level since the closing months of 2008, with a growing number of smaller firms finding buyers, according to business-broker data. Getty Images From April to June, sales of 1,198 small businesses on the market closed, up from 1,106 in the second quarter of 2010, according to BizBuySell.com, an online small-business marketplace based in San Francisco. The median sale…