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Business owners say the funniest things

Business owners say the funniest things

Have you ever heard a business owner say something like the real-world quotes below? “I read an article that said my business is worth two times revenue.” (i.e., Sales are the real value of the business, not profits) “I never took a salary.” (My sacrifices must have...

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Are there only five business exit strategies?

Are there only five business exit strategies?

When you Google “exit strategies,” you will see the five standard methods below. Five Common Exit Strategies Sell the Business to Family or Friend Sell the Business to Management or Employees Mergers and Acquisitions Initial Public Offering Liquidation Sometimes, none...

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Things you will give up if you sell your business

Things you will give up if you sell your business

If you have ever owned a business, you have daydreamed about selling it for a large pile of cash. It’s not really about the money, right? It’s about flipping a switch and having all the stress and headaches turn off instantaneously. However, for many business owners,...

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Waiting for “C”

Waiting for “C”

I’ll be honest; frustration tends to set in when I see business owners hesitate to take the obvious course of action at the time it becomes obvious. It makes me pause and ask, “Why are some successful and savvy business owners so indecisive?” The answer is most...

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Guide to Understanding the 44% Rule

Guide to Understanding the 44% Rule

There’s an old saying, “Business owners don’t sell for money; they sell because they are frustrated.” The price tag to end that frustration can be millions of dollars. In a low-interest rate economy, a big pile of cash is worth far less than an income stream. So when...

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What is your business REALLY worth?

What is your business REALLY worth?

The oversimplified formula is 3X owner’s annual “take.” If you’ve ever had a formal business valuation and then tried to sell your business, you realize the business valuation is really only an estimate and indication of what a buyer might pay if all assumptions line...

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Hey You – Delegate More!

Hey You – Delegate More!

I was amazed when I did a web search for, “Why do executives have so much trouble delegating?” I saw some pretty amazing answers like: Stop trying to control everything. If someone takes more time than you to do the work, don’t worry about it. You don’t have a key...

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Is there ever a wrong time to sell your business?

Is there ever a wrong time to sell your business?

The short answer is, “Yes.” If you time the sale wrong, you could leave untapped value on the table. Do you recall the early days of your business? If you are like most owners, you worked very hard for very little pay, perhaps for several years, in order to launch....

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