07 Apr 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 Dallas Business Journal entitled “11 reasons you should have started thinking about your exit yesterday” discusses the importance of having an exit strategy. A strong exit strategy prepares your business for selling at a high price, improves the performance of the business today, and prepares you for the worst.
Reasons why you should start thinking about your exit strategy sooner rather than later include:
- Your business probably carries more risk than you think
- Your business likely needs to be more valuable than it currently is
- You can involve your employees without them fearing they’ll lose their jobs
- You’re probably not ready for the unthinkable
- You may not have your most important priorities aligned
- You probably don’t realize how many options you have
- You won’t be able to sell easily and quickly the moment you’re ready
- You probably don’t know what buyers really want
- You probably have an unrealistic idea of how many buyers are interested in your business
- You probably need a lot more time than you think to build your business’ value
- You’re unlikely to prepare to sell without support
Click here to read the full article.
A recent article from BizBuySell entitled “Is a Business Broker Worth the Cost?” discusses the value that a business broker bring to selling a business. Sure, a business broker will likely cost a 10% success fee. But it is worth it for several reasons.
Selling a business is difficult and complex. It involves preparing the business, determining an accurate sale price, vetting buyers, negotiating, due diligence and more. While all of this is happening, the business needs to continue operating at peak performance.
A good business broker has experience, knows how to manage the process, and knows what to look for along the way.
Click here to read the full article.
A recent series of articles from Viking Mergers & Acquisitions entitled “M&A Deal Killers” explores the top 5 business deal breakers in business sales and how you can identify, prevent, and resolve them.
Deal Killer #1: Client Concentrations – https://www.vikingmergers.com/blog/2023/deal-killer-series-1-client-concentrations/
Deal Killer #2: Unresolved Issues – https://www.vikingmergers.com/blog/2023/deal-killer-series-2-unresolved-issues/
Deal Killer #3: Human Capital Concentration – https://www.vikingmergers.com/blog/2023/deal-killer-series-3-human-capital-concentration/
Deal Killer #4: Overvaluing Assets & Inventory – https://www.vikingmergers.com/blog/2023/deal-killer-series-4-over-valuing-assets-and-inventory/
Deal Killer #5: Inaccurate or Poor Bookkeeping – https://www.vikingmergers.com/blog/2023/deal-killer-series-5-innacurate-or-poor-bookkeeping/
