Business owners have been known to refer to due diligence as "the entrepreneur's proctology exam."
It's a crude analogy but a good representation of what it feels like when a stranger pokes, prods, and looks inside every inch of your business.
Most professional acquirers will have a checklist of questions they need answered if they’re considering buying your company. They'll want answers to questions like:
· When does your lease expire and what are the terms?
· Do you have signed, up-to-date…
Small businesses stay small either by choice, or because they start chasing growth in the wrong places.
When you strip away the layers, it all comes down to darts.
Imagine a dart board with a bull’s eye and around it is a series of wider and wider circles. The bull’s eye is where the people just like you hang out. They are the people (or businesses) who feel the problem your company set out to solve. They are usually your first customers and raving fans.
The further you go outside of your bull’s ey…
Post-Traumatic Stress Disorder (PTSD) is a mental health condition triggered by experiencing a terrifying event. Although not at the level of enduring a war zone, the events of March 2020 may leave you feeling similar symptoms.
If you’re like most business owners, the first quarter of the year was progressing like any other.
A superbug started terrorizing the world. Professional basketball was cancelled. One by one, the world began to close its doors.
A significant blow impa…
Does your business offer a service or a product that you differentiate through a higher level of service?
If so, you're probably disproportionately impacted by the economic disruption caused by the coronavirus pandemic. Consumers are cutting back on services to avoid human contact and conserve cash, but we are still buying products that solve a specific problem.
Businesses are buying products like Zoom, and Slack for teleconferencing and consumers are dropping services in favour of product…
If you find yourself in a position where your customers always insist on speaking with you directly instead of your employees, then you might want to consider shifting your structure so you can improve the value of your business.
Here's why: a business that can thrive without the owner at the center of all its operations is more valuable because processes can run smoothly with or without you.
If you're too stuck in the weeds, you'll have a difficult time improving or evolving – and your employees…
Chicago Manufacturing Business for Sale
The current owner started the business in the late 1960’s with a family member. They’ve been a supplier to the U.S. Government for more than 40 years. They have approximately $1,400,000 in manufacturing machinery and equipment, including several CNC machines and a plating machine. The average annual cash flow for the last 3 years was $968,534.00 and the average gross annual sales were $3,192,640. Payroll runs about $20,000 per week, on average and the c…
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