Buying and Selling Businesses in a Pandemic: GABB Feb. 23
Despite the challenges posed by the pandemic in 2020, many Georgia business brokers continued to sell more than a million dollars worth of businesses. GABB board member Tanya Nebo and six members of the GABB Million Dollar Club offered a wide variety of advice on Tuesday, Feb. 23, during a panel discussion of how to buy and sell businesses during a pandemic. To view their comments on how they...Read More
3 Steps for Achieving Pricing Power
The simple fact is that most of us want to control our own fate. This fact is especially true for entrepreneurs and business owners. However, the truth of the matter is that for most business owners, their fate isn’t completely in their own hands. For example, a variety of forces can prevent businesses from establishing their own prices. Knowing whether or not your company has pricing...Read More
John Warrillow’s The Art of Selling Your Business
Business owners should skip trying to find the perfect “magical time” to sell their business, advises John Warrillow in his latest book. In The Art of Selling Your Business: Winning Strategies and Secret Hacks for Exiting on Top,” Warrillow strongly recommends that “the best time to sell your company is not during some mysterious macroeconomic environment. It is when...Read More
Why Businesses Get Into Trouble
No two companies are quite alike, and this also means that there are many reasons why companies can fall into trouble. While the number of variables involved in operating a company are practically endless, there are a handful of reasons why companies can fall on hard times. Let’s take a closer look. Lacking Focus Companies that lack focus can often run into considerable...Read More
Maximizing Your Time by Rating Buyer Seriousness
Your time is your most valuable commodity. So you don’t want to waste your time with people who aren’t serious about buying a business. Unfortunately, many “buyers” are not truly buyers. They are often window shopping or acting out a fantasy of buying a business. In other cases, they would only plan to buy if they were to find the “deal of the century.” So how do you avoid...Read More
Ownership Transition Survey Results on feedback and answers from family-owned businesses
Mass Mutual Life Insurance produced an ownership transition survey back about a decade ago. The survey results were based on feedback and answers from family-owned businesses. It produced some very interesting results, and is worth examining even today. While the survey at this point is quite outdated in terms of the timeline, there are still many valuable nuggets of information to be...Read More
Ownership Transition Survey Results
Mass Mutual Life Insurance produced an ownership transition survey back about a decade ago. The survey results were based on feedback and answers from family-owned businesses. It produced some very interesting results, and is worth examining even today. While the survey at this point is quite outdated in terms of the timeline, there are still many valuable nuggets of information to be...Read More
The Importance of Owner Flexibility
You shouldn’t expect to sell your company overnight. For every company that sells quickly, there are a hundred that take many months or even years to sell. Having the correct mindset and understanding of what you must do ahead of time to prepare for the sale of your company will help you avoid a range of headaches and dramatically increase your overall chances of success. First, you must...Read More
Getting the Most Out of Confidentiality Agreements
When it comes to buying or selling a business, a solid confidentiality agreement is a must. A key way that business brokers and M&A advisors help buyers and sellers is through their extensive knowledge of confidentiality agreements and how best to implement them. In this article, we will give you an overview of what to expect out of your confidentiality agreements. A...Read More