18 May Around the Web: A Week in Summary
The following information has been sourced by Business Brokerage Press for the benefit of the business brokerage community. The views of these articles do not necessarily represent the views of Business Brokerage Press. We hope you find this information helpful.
A recent article from Startup Info entitled “7 Things You Can Do When Your Business Value Is Not What You Expected” explores what business owners might be able to do when their business valuation comes in lower than anticipated. This can be problematic for those who are looking to sell their business, but the good news is there are steps you can take to help turn things around.
The following actions can help improve the value of the business or put you in a better overall position:
- Increase revenue
- Increase profitability
- Develop accurate asset records
- Improve financial records
- Consider a sale to an employee
- Build a team of highly skilled employees
- Sell the assets
Click here to read the full article.
A recent article from JD Supra entitled “Key Considerations on How to Sell Your Business” offers helpful advice for business owners who are seeking to sell their company. Proper planning is key to a successful sale. There are a couple of major steps you can take when preparing to sell.
First, assemble your deal team. This typically consists of an attorney, accountant and business broker. These professionals will guide you to a successful sale.
Second, conduct seller due diligence. This involves analyzing the business to identify any issues that exist so that they can be addressed before a potential buyer finds them.
Click here to read the full article.
A recent article from White Mountain Independent entitled “Looking for the exit? How to develop the right strategy to sell your business” discusses the importance of exit planning. While you might not be thinking about selling your business right now, someday you very well may need or want to sell. When that day comes, it’s important to be prepared.
When developing your exit strategy, consider the following steps:
- Get a business valuation
- Make sure your accounting is in order
- Choose which type of exit strategy makes sense for you
- Market the sale
- Invest in a lawyer
