Tuesday, April 11, 2017
If you think you have the chops to be an entrepreneur, but would rather not start with a new idea -- or just plain don’t have a new idea worth starting -- you may be a great candidate to buy an existing business instead.
While buying an existing business typically involves more upfront cost, it also presents less risk than starting from scratch. Financially, you’re looking at actual profit and loss records rather than rough estimates, and there’s a clear history of sales to point to. You may also acquire valuable patents or copyrights, or have the opportunity to drive a stagnant business in an exciting direction with your expertise.
Monday, March 27, 2017
In the days before the Internet, selling a business was a slow but straightforward process: The buyer would drive across town, view the business in person and “kick the tires” before signing on the dotted line. The seller would then sign over real estate deeds, transfer inventory, provide in-person training and hand over the keys.
Since the advent of online businesses, however, what used to take weeks now happens in a matter of hours or days. But while selling an online business typically means less paperwork than selling a brick-and-mortar business, the logistics can be confusing from a seller’s perspective.
Here are a few things you should do once you find a buyer:
Friday, March 24, 2017
I recently spent time working with several entrepreneurs selling their companies. They were all deep in the negotiation process, and each of them had a slightly different approach. In working together, we discovered that while no two buyouts are completely alike, there are seven key factors we identified that all companies should consider to position themselves well for acquisition: