Simple answers to frequent questions

Any rational approach will involve an owner-centric situation assessment, goal definition, a view of the viable options, a chosen course of action, and implementation discipline.  We offer a proven, systematic approach. We help owners focus on maximiz...

The key indicator is when you feel yourself losing energy / interest in taking your business to the next level. The single biggest mistake owners make is waiting too long to take steps toward selling. A rule of thumb is plan on a year to sell, and a year o...

This is very likely to be the most significant financial (and personal) decision of your life. There are three smart things to do:  1) Get smart / do some reading. What you don’t know about selling a business can literally cost you a fortune. Here are...

Hugely important question – a full answer is beyond this immediate scope. However, recognize that you will inevitably transition out so your perspective should shift from your business as a job/profession, your baby, to your business as an investment. That...

Few buyers can simply pay all cash – most seek to leverage some financing (including perhaps some from the seller) to acquire a business. This has important consequences- it adds time, complexity and impacts due diligence. 

Due diligence is often where deals derail. To an owner, it can feel like financial proctology. To a buyer, it’s how they identify and manage risk. Since it’s future cash flows they are buying, they’ll want relevant insights, evidence of predictability and ...

Virtually all owners overestimate what their business is worth. There are actually several data-based methods and thus valuations, outlined in the kind of books noted above. Generally it’s some multiple of revenue or EBITDA, and reflects estimates of futur...

It’s common for owners to write off expenses that benefit just them, not the larger business. (cars, insurance, memberships, etc.) These need to be pulled out to get a true picture of the business’ financials, called a recast. This is an important thing to...