03 Jul Around the Web: A Week in Summary
A recent article from Divestopedia entitled “Hitting a Home Run When Exiting Your Business” explains how to navigate the ‘bases’ of creating an effective business exit strategy.
Selling or transferring your business can be a difficult and emotional decision. Putting an exit plan together before taking the leap can help to assure that your experience is a home run rather than a strikeout. Being clear on the business value, your values and needs as the owner, and what all of your options are creates a great foundation for determining the best strategy for you.
Use this five part plan to clarify your vision and make your transition as smooth as possible.
A recent article from BusinessBroker.net entitled “Indicators It Might Be Time to Buy a Business” discusses the reasons someone may want to start considering this major life decision more seriously. Given new tax cuts and deregulation, it is a prime time to become an entrepreneur. It may be a good time to give your local business broker a call if you:
- Feel a consistent dissatisfaction with your work
- Find yourself regularly job hopping
- Believe you need to make more money
- Want more recognition for your work
- Feel as though you have reached your potential within your company
There are infinite possibilities in the business world, is it time for you to find your ideal job as your own boss?
A recent post from Axial called “Big Players Love the Lower Middle Market” examines the effect larger firms are having on the Lower Middle Market by showing increased interest in companies purchased at lower valuation. These larger firms have resources that smaller, private firms do not and their presence in the market is raising the bar for competition. In response, many smaller firms are moving away from generalization and turning to specialization.
P.S. If you’re a business owner, it’s a great time to sell!