Selling A Business

July 30, 2019

Turning Over Your Business? 5 Steps To Know

Whenever we start a business we hope to make it big, earn profits and expand a lot. But doing these are not easy. While we all expect the maximum return from our businesses turning over your business requires the implementation of some essential steps. So if you, like many are trying to know and understand the steps that will help you to turn over your business, this article will surely be of much help. Increasing your turn over Increasing your turn over is what all business men tries to do but to actually be successful in doing this requires some steps. Here are a few of them: Lowering costs Lowering costs of the company will inevitably result into higher turn […]
June 25, 2019

Transfer Your Business to a Family Member

There may come a point when a business owner will want to turn over their business to one of their family members. This could be due to a variety of reasons. Perhaps they are going to retire and wish to entrust their business with a family member who they know will run it well. Either that or the business owner may just want to sell their business to a family member or give it to them as a gift. Whatever the reason is, it is important to understand how to transfer your business to your son or daughter so you incur the least amount debt and tax liability possible. Furthermore, you must consider how much money you want to take […]
June 25, 2019

Is It Time to Sell Your Business?

“Quitters never win and winners never quit.” —Vince Lombardi In small business, it’s not that winners never quit. Rather, winners know when and how to get out at the right time. Making a change is always tougher than the status quo. Most owners hang on too long and delay a decision when their businesses are either wildly successful or just plain not profitable any longer. A fading business. When a business is fading, owners often keep waiting for that the next prospect, the next big customer or a new employee who will make the difference and finally propel the business out of its financial mess. They believe that they can grow their way out of whatever financial difficulty the business […]
June 19, 2019
bouncing back after selling a business

How to Bounce Back After Selling a Business

Small business owners may sell their businesses for several reasons, such as retirement planning, estate planning or the desire to move on to new challenges. Owners also may sell because adverse economic conditions have reduced profitability. If you have sold your business recently and are not yet ready for retirement, you can bounce back and reignite that entrepreneurial spirit. However, there is no need to rush. Slow down and take the time to plan your next venture. 1.Work with the new owner to facilitate a smooth transition. The selling agreement may stipulate that the previous owner will stay on for a few months to help the new owner sort out operational details and customer relationships. Depending on the complexity of […]