Before you begin your business, you should be thinking about how you will hand that business over to someone else. No one runs a business forever. Whether you sell your business or let a relative inherit it, at some point you will need to step away. When you finally do separate from your business, it… Read more »
Darby founded customer software consultancy Matched Pattern in 2017 but had become exhausted by the hamster wheel of constantly chasing new business to keep his consultants busy. As a project-based consultancy, Darby’s exit options were limited so he decided to swap his equity in Matched Pattern for shares in Matched Pattern, a company with a… Read more »
There is no denying the fact that life is much, much easier when one can find the right buyer for his or her business. Buying or selling a business can be a stressful affair, but much of that stress can be eliminated by getting the right support. The Concept of the “Right Buyer” In the… Read more »
Warren Buffett invests in companies with a “competitive moat” which he defines as a durable competitive advantage. Most founders start with a unique idea for their business which becomes diluted as the owner chases revenue at the expense of their original vision. Take Mitch Durfee for example. Durfee started Grunts Moves Junk, a junk removal… Read more »
Does your business have real, long-lasting longevity or is your business a temporary entity that will vanish the second you stop working on it? In his insightful article in The Business Journals entitled, “Are You Living for Today as a Business Owner or Building Value?” author Kent Bernhard asks a very important question of readers,… Read more »
Kristin Delwo co-founded Stacks, a software used by librarians. Though the software was still early in its life, Delwo wanted to scale quickly and decided to look for a deep-pocketed acquirer. Delwo was too early in her life-cycle to attract an all cash offer so agreed to sell her business putting much of her consideration… Read more »
Would you consider selling your business to an employee? They’d probably fit the bill – good understanding of the business, passionate about your mission, and more likely to continue your legacy – but, they likely won’t have the cash to front such a large transaction either. When Lori Moen decided to step back from her… Read more »
Jim Brown had been running TerrAlign, a software company that helps clients optimize their sales territories, for more than two decades when he decided to promote Ken Kramer to run things as the company’s President. Kramer was so good at leading the business that Brown ultimately asked him to manage the process of selling it…. Read more »
Jessica Tindel and her partner started Dream Enrichment Classes, a business offering after school programs in math and art 13 years ago. Tindel built the business to 60 part time instructors and 5 full time office staff when a new business caught her attention. Stretched thin and drawn to the potential of her new idea, she… Read more »
The first step towards successfully selling a business is finding a qualified business broker to work with. Sellers should also ask themselves an array of important questions. A recent article, “7 Questions to Answer Before Selling Your Business,” published by Good Men Project, has a great overview of questions sellers should answer before moving forward…. Read more »
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