Blog

Planning Your Escape (from business ownership)

There are different types of exit strategies to choose from. Most entrepreneurs who start businesses set their goal with an initial public offering. While this is a respectable and admirable goal, for most it is not likely to happen. Most exits from business involve an acquisition or sale of the business. Continue reading

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

Timing Your Business Exit or Sale (Part 1 of 3)

You want to sell your business at the “right” time and that requires being properly prepared to enter the market when three conditions exist: 1. The economy is expanding 2. Your business is growing 3. You are ready personally and … 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

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

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

Exit Strategy Seminars in Fort Lauderdale & Clearwater

Whether you want to exit your business in six months or six years, the proper strategies need to be formulated and executed. This factual and hard-hitting 4 hours will give you the information you need to successfully Exit from business ownership after a lifetime of hard work. Continue reading

A better exit with marketing dashboards

Unlock Your Client’s Business Value to Create Investment Liquidity

“71% of small and mid-sized enterprise owners plan to exit their businesses within the next ten years…however, the challenge is that few organizations genuinely understand what actions they must take to achieve this goal.” Continue reading

Using Operation Manuals to Exit Business Ownership

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

Chris Curtin talks about Exit Strategy Seminar | May 5 Orlando, FL

Whether you want to exit your business in six months or six years, the proper strategies need to be formulated and executed. This factual and hard-hitting 4 hours will give you the information you need to successfully Exit from business ownership after a lifetime of hard work. 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

Is it Time to sell your Family Business?

Deciding whether to sell your family business is a once in a life time event. Should you sell the whole or part of the company to outsiders? Are the 2nd or 3rd generation family member’s good options? Are the family … 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

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

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

Acquisition Multiples Trend Down

I received this in an email from Rich Goeldner of FairValue Advisors. My take on the reduced multiples paid for the smaller mid-market companies is that sales/ebitda trended down for many of them in 2008/2009 and financing dried up. I … 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

SBA delays limit on goodwill financing

“Note: This article is from the Orlando Business Journal – by Kent Hoover Washington Bureau Chief, but it is being reported in numerous publications. The SBA 7-A program is the key lending product to buying/selling a business worth less than $4 … 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

The Structured Sale, A different method of tax deferral

The Structured Sale is a unique type of installment sale whereby specific installment payments are secured by an annuity   issued by a major, well-known life insurance company.  The Structured Sale is established pursuant to Internal Revenue Code 453, Installment Sales. … 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

Why get a 3rd Party Business Appraisal before going to Market? An Exiting Perspective…

1.The Buyer’s lender will demand one and there is a good chance yours will match the one subsequently ordered by the Entering buyer’s bank. Do you only want an appraisal from the buyer’s and lender’s perspective? 2. Pre-financing can be arranged … Continue reading

Banks Tightening Credit brings Business Exiting Preparation Front and Center

SBA backed loans are down 31% in South Florida. The new SBA SOP (standard operating procedures) have made the rules more onerous for Entering clients and prospects. A constant refrain we hear from banks is we would have done this … 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

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

What are the risk factors that are taken into consideration in a business valuation?

In AccuVal’s (a global leader in valuation, advisory and asset management services) most recent newsletter, the above question was asked. Here is their answer: A: In addition to the appraisal approach, business risk, financial risk, and liquidity risk should also … Continue reading

What is a Hypothetical Appraisal and why would you Need One?

Whenever we take on a new Exiting client, we get a 3rd party business appraisal done by a reputable company (one that the banks will take, hold up in court, etc.). We also utilize a business appraisal in our targeted … 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

How is the Credit Crunch affecting Smaller M&A Deals?

I get asked by potential Exiting Clients how the tighter lending environment is affecting the market for their company. I see a couple of things happening in the market place: Deals are still getting done- Fairly priced companies under $10 million … Continue reading

Selling to Family Members or Employees? Ask Question #1

If you are contemplating selling to the next generation or to key employees as part of an Exit Strategy, Question #1 is: Do you need money from the sale to fund your retirement? If you retirement needs are already met, you can … 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