Blog

The Internet’s Turbulent Next Decade

The internet’s turbulent next decade from Pew Research Center's Internet & American Life Project

Why You Need a Business Valuation

The valuation of all or part of a private business is integral to the operation and the long-run survival of the business itself. Continue reading

6 Year End Steps to Ready a Business for Sale…

Whether you are ready to sell your business now or in the future, steps should be implemented now to make your business more salable. Continue reading

Timing Your Business Exit or Business Sale (Part 2 of 3)

In our first post on exiting business ownership timing, we highlighted how selling your business at the “right” time exists at the intersection of proper preparedness and these three timing conditions: Continue reading

15 Grammar Goofs That Make You Look Silly

I fight grammatical errors constantly and I found this blog from Brian Clark the founder of copyblogger.com to be a great reminder of what (not) to do. Enjoy! Continue reading

6 Tricks to Sell Yourself by Geoffrey James

A few months ago, we posted a blog about selling yourself to business buyers – Tips for Business Buyers: Sell Yourself – from Nick Rodites of Bankers Advocate.  Today, I will be sharing some ways to sell yourself to the … Continue reading

Entrepreneurs don’t care about Google, Facebook, Twitter or LinkedIn

The many ways an entrepreneur can spend money generating leads is infinite. Sadly, the return on those “investments” is not. Continue reading

The Magic of Doing Things One At A Time

Tony Schwartz, the president and CEO of The Energy Project and the author of “Be Excellent at Anything” shared in Harvard Business Review the magic of doing one thing at a time. Why is it that between 25% and 50% … Continue reading

Business Acquisition Checklist

“When you buy a company, you are not buying a building or the employees but you are really buying the customers.” Planning of acquiring business? There are a couple of things you definitely need to know before you sign that … Continue reading

5 Reasons Every Small Business Are Extending Credit

There is much debate over whether or not extending net terms to customers is a smart practice for small businesses. There is risk involved, with providing a service or product and trusting the customer to pay you back at a … Continue reading

Ways to Save Money on Business Travel

Travel is one of the most expensive line items on any body’s budget so here are a few tools to save key dollars that could be spent on your marketing and sales machines. Read more…

Tools to manage your business in the cloud

Since Bankers Advocate has Virtual Offices with teams members in Orlando, South Florida and the Philippines (Jessie and Rachael are our wonderful Virtual Assistance), we thought you would be interested in the tools we use to be in the “Cloud” … Continue reading

New Vistage Small Business Group in Miami

“I am such a big Vistage fan for my clients, I want those in Miami to know about my good friend Les’ new group” Chris Now Miami area small businesses have access to the advantages of Vistage Membership Veteran Vistage … Continue reading

4 Practical Succession Planning Tips

Matt Schaeffer, CPA, CVA, CFF, is a local partner with accounting firm Carr, Riggs & Ingram (CRI), the nation’s 34th largest. Contact him at mschaeffer@cricpa.com or 727-324-1223. 4 Practical Succession Planning Tips A successful company should have a future, and … Continue reading

Always bring a Condom by the 7L Guys

Here is a funny, irreverent but to the point blog on BEING PREPARED! by my friends at 7th Element. We recently set up a meeting between a company and one of our clients to see if the company might be … Continue reading

A better exit with marketing dashboards

Using Operation Manuals to Exit Business Ownership

Improve your chances of Exiting Business Ownership by utilizing operation manuals Continue reading

6 Simple Steps to Optimize Your LinkedIn Profile… by Hannah Pace

If you use LinkedIn, you are looking to make connections. Not only do you want to find people, you want others to find you. Once you’ve been noticed, what will compel someone to connect with you? To maximize your chances … Continue reading

Creating an Effective Social Media Profile

Your social media profile may be more valuable than you think. A well-developed profile can either make or break your brand’s online growth. Profile content that intrigues gains attention. It is the first crucial step to engaging your audience. Whether … Continue reading

Avoid These Social Networking Mistakes

Yes, social media is a platform that provides free marketing. Is that a reason to make its sole use self-promotion? Not if you want your venture into the digital realm to be successful. Continue reading

3 Steps to an Effective Presence in the Social Media World

The following steps will help you establish an effective presence in the social media world. Continue reading

Your Most Important Meeting of the Year: The Annual Business Review

With less than 60 days left until the end of the year, business owners are likely starting the process of evaluating the results of 2010 and formulating resolutions for 2011. We suggest using this opportunity to hold an “Annual Business … Continue reading

How to Know when to Sell Your Business… by Nick Rodites, AVA

As the in-house AVA and leader of the Central Florida Office for Bankers Advocate, business owners often ask me how to predict the right time to sell. I know from recent conversations, that many owners feel they missed their chance … Continue reading

The Best Way to Grow Your Business, Frank J. Gnisci B2B CFO

“The B2B CFO people do good work. Here is an article from one of their consultants, Frank Gnisci.” Chris Although every business wants to grow, some types of growth are certainly better than others. Consider the following 2 options: 1: … Continue reading

Business Success: Organizational Change and Culture By Doreen M. McGunagle, Ph.D.

“I enjoy Doreen’s work and writings. Here is an article from her. CC” For firms to compete today, they must change to meet the demands of the business environment. In fact, change can be used to create a competitive strategy … Continue reading

The Delayed Gratification of 2009 and 2010

In my talks with business owners and their advisors throughout 2009 and early 2010, I see one common theme – Survive. Business Owners who back in 2007 planned to fund their retirement by selling their business in 2009 were hit … Continue reading

McGwire Returns to Mudville, by Tom Reilly

“I enjoy Tom’s newsletter and this article on being humble and making time to learn hits home” , Chris By Tom Reilly, the guy who wrote the book on Value-Added Selling Former St. Louis Cardinal, Mark McGwire, is returning to … Continue reading

Seminar this Thursday at Stetson’s Celebration Campus…

In these tough economic times, it is more important than ever to plan ahead. That is why it gives me great pleasure to invite you and your clients to a seminar on Planning Your Exit from Business Ownership. This seminar … Continue reading

How the Stimulus Package of 2009 Can Help Your Small Business, Diana Fitzpatrick

(This is a great article by the legal editor of www.nolo.com, Chris) The economic stimulus package (Recovery and Reinvestment Act) includes tax, loan, and investment provisions for businesses. The American Recovery and Reinvestment Act of 2009 (commonly called the “stimulus … Continue reading

Business Owners Land the Whales

I was taking a prospective buyer on a client tour recently. The principal of the buyer’s group is a serial entrepreneur who has started or bought numerous companies and taken each to the next level. We were talking about sales … Continue reading

Using Technology to Increase Business Value Before a Sale or Merger

“My friend Norman Katz contributed this great article” Chris  Improvements in information technology and business processes can make an important difference in not just the perceived value of a business, but the actual value too.  Technology improvements that are visible … Continue reading

All Buyers Are Liars – Dave Rothfeld

“I enjoy Dave’s newsletter and this caught my eye” Chris A group of prospects were meeting with a sales representative at a Colorado steakhouse, and all were complaining that their steaks were overcooked. When the waiter came and asked whether … Continue reading

A Tax Warning for Buyers, Sellers and Investors in Businesses

I was talking to a friend at a Private Equity Group today who found out that a company they own a portion of is behind on federal withholding taxes. He does not know how big the problem is, but he … Continue reading

Employee Theft: is it Happening to you? by Tom Comollo

“Tom had this insightful article that I wanted to share, Chris” It is not a nice thing to think about but employee theft is rampant in small to mid-sized businesses. It never ceases to astound people that a trusted employee … Continue reading

E-Myth: Delegation vs. Abdication

This article http://www.e-myth.com/cs/user/print/post/delegation-vs-abdication does a a wonderful job fleshing out my last post on on The Cult of Personality No-No. Letting go of your ego and taking the time to build great systems and procedures is the only way to build … Continue reading

The Cult of Personality No-No

Many entrepreneurs are do-it-all, take charge types who cannot delegate any business duties. Their argument is that no one can do it better than them. The problem with this scenario is that the owner has created themselves a job, not … Continue reading

Price Cutting, A Race to the Bottom

In this tough business environment, it is tempting to cut prices to pick up or hold onto sales. However, margin erosion has to be monitored carefully.   See the following chart:     As you can see, small changes in … Continue reading

SBA Urges Lenders to Offer Loan Deferement Relief

Note: “I found today’s press release from the SBA very interesting.” Chris WASHINGTON – In response to the financial crisis, the U.S. Small Business Administration today announced it is strongly encouraging its participating 7(a) lenders and Certified Development companies to work with … Continue reading

Prime rate drops to 4.5%

“Note: Since this was written, the prime has dropped to 4% and furthur rate cuts are possible.-Chris”  One item not receiving a great deal of attention through the financial crisis is the fed’s action causing the prime interest rate to … Continue reading

Stetson University & TMA Present the Business Renewal Series…

Business Renewal Series: Survive Hard Times, Navigate the Economy and Control Your Own Destiny…  The Stetson University Family Enterprise Center in partnership with The Turnaround Management Association presents a unique group of seminars, The Business Renewal Series.    http://www.turnaround.org/Events/Calendar.aspx?objectID=9647 Survive Hard … Continue reading

Upcoming Seminar in Orlando

Topic: “Planning Your Exit from Business Ownership” Presenters: Frank Mock, Lowndes, Drosdick & Chris Curtin, Bankers Advocate Sponsor: The Law firm of Lowndes, Drosdick, Doster, Kantor & Reed, P.A. Location: Lowndes, Drosdick, Doster, Kantor & Reed, P.A., Orlando Date: December … Continue reading

Selling One Location or Part of your Business?

We are getting more calls from potential Exiting clients wanting to sell part of their business; two stores, one clinic, a manufacturing plant, etc. A big road block to this is that many times the books and records are not setup to … Continue reading

IRS Increases Mileage Rates through Dec. 31, 2008

IR-2008-82, June 23, 2008 WASHINGTON  The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2008. Taxpayers may use the optional standard rates to calculate the deductible costs of operating … Continue reading

Two Exit Planning Seminars this Thursday & Friday

Later this week on June 19th in Ft Myers and June 20th in Ft Lauderdale, I am participating in two Planning Your Exit from Business Ownership Seminars. BB&T, Ruden McClosky, and Richard Hall CPA are my gracious sponsors. Whether you want to Exit … Continue reading

Government Contracts May Put Struggling Companies on Road to Recovery by Robert Koehler

Establishing a plan for sales to the government may be the business opportunity a company needs to turn around lagging sales or expand the scope of its marketing footprint. In the most recent Journal for Corporate Renewal (The official magazine … Continue reading

Being on a Non-Profit Board: “Give, Get or Work”

Like me, you probably serve on a few non-profit boards. Giving of yourself can be very rewarding, but sometimes frustrating in the non-profit arena. A key difference between your business and the non-profit is that when you serve a client, … Continue reading

Protect Your Accounts Receivable….

In these tougher economic times, collection of your AR needs monitored more closely. The credit worthiness of your clients has probably degraded and their ability to pay you may be at risk. There is only one thing worse than no … Continue reading

Thoughts On Dealing With Price Objections from Tom Reilly

I received this email today from www.TomReillyTraining.com and in this market it is easy to fall into the “sell by price” trap (which is not selling, your just an order taker). It also got me to thinking of one of my … Continue reading

Why Didn’t My Business Sell? Part Two…

Here are seven more reasons that your business did not sell or sold at a steep discount: 6. Bad Location or Lease: A great franchise in lousy location makes for a failing business. Also, too high a rent as a percentage … Continue reading

Why Didn’t My Business Sell? Part One…

If you have tried to sell your business on your own or it was listed with a broker for over a year and the contract lapsed and you have given up in frustration, let us talk about what might be the problem. … Continue reading

Uses for a Business Appraisal

The majority of the time Bankers Advocate employs a certified business appraisal, it is for use when our Client is Entering or Exiting Business Ownership. However, recently we were asked for a certified business appraisal, where the shareholders were not happy with … Continue reading

16 Red Flags for Fraud in Your Business

Fraud is rampant in business today. According to the Association of Certified Fraud Examiners, U.S. organizations lose 5 percent of their annual revenues to fraud — about $652 billion a year. The median loss is $159,000, but one-fourth of the … Continue reading

What Prospective Business Buyers look for:

Provable & Timely Books & Records Reasonable Price backed up by an Appraisal Satisfactory Borrowing Leverage & Terms Sufficient Free Cash Flow FF&E  (Current FMV,  Not Overstated) Good Appearance & Lack of Environmental Issues A Scalable Platform that can be … Continue reading

It’s All About Control

You have built a great business. You control your labor & material costs, AR turn, cash flow, etc. Your not even afraid to “fire” a client occasionally if they don’t meet your standards. Now that you are ready to exit from … Continue reading

Keys to a Great Business

Great businesses have two things in common: Culture and Cash FlowCulture: Those of you who fly, compare SouthWest Airlines to the non discount airlines. At SouthWest, the pilots help the attendants clean the cabin after a flight lands. No one … Continue reading