A very successful business owner and mentor of mine used to say, “The path of least resistance is what makes men and rivers crooked.” In your business, the path of least resistance is using a credit card or some other form of borrowing. Before you know it, the amount of debt has piled up, the…
Sometime ago I read an article about Pete Maravich, former LSU and NBA basketball player and what made him so successful. When asked that question by the sportswriter, he answered “before I take the shot, I can’t see myself missing.” While it would be easy to interpret that comment as arrogant, the article stated that what he…
If you’re like me, you’re reflecting on 2015 and setting the table for 2016. What are you going to start doing, stop doing and keep doing? One of the ways of determining this is to look at the key metrics of your business to determine if you’re on the right track for success or what…
You’re busy running your business and all of a sudden you get a phone call from a potential suitor that is interested in buying your business. You’re flattered, intrigued, you might even consider selling. But what’s the value of your business? How do you structure the sale? What’s going to be your tax liability? What’s…
Two things have become increasingly apparent to me. If you’re a big company, you have good access to capital and can find the funding needed to finance your business. Small companies don’t have that access to capital and finding funding is difficult. Here’s why:
The baby boomer generation is retiring and those who are business owners are selling their businesses. So, where do you start? How much do you pay for the business? What’s it worth? How do I get if financed? Depending on your situation, you may only buy and sell one business in your lifetime, so you…
Success should not come as a surprise. It’s something you’ve planned for. You have the right people in place with good processes and execution.
The Great Recession is clearly a thing of the past. The economy appears to be expanding. Businesses are seeing sales, growth, and profits. Entrepreneurs are experimenting with new products and markets, starting new divisions and making investments in people.
There seems to be a lot of business acquisition activity in the marketplace right now. I have several clients that are in various stages of this process. Depending on whether you’re on the buy side or the sell side, here are three ways the acquisition can get financed.
Bankerese is a language understood by bankers, but is a foreign language to most business owners. Communication is happening, but the business owner doesn’t understand what’s being said or the implications it has for his or her business. Often, we step in and interpret. Here are three of the most important ones to know:
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