Having a letter of intent signed by both the buyer and the seller can be a very good feeling. Everything can seem as though it is moving along just fine, but the due diligence process must still be completed. It is during due diligence that a seller decides whether he or she is going to… Read more »
Far too many prospective business buyers and sellers overlook just how important negotiations can be. But they can also be tricky. In general, there are three approaches to negotiations. Thinking through your negotiation strategies well before the time to buy or sell is a savvy and prudent move. Negotiation Tactic #1 Take It or Just… Read more »
Jeffrey Feldberg and Stephen Wells founded Embanet to help colleges take learning online. Embanet provided hosting, tech support, course conversion, and then moved into helping universities and colleges fill the online programs. Despite their unorthodox management style, Feldberg and Wells built Embanet to 200 employees in just 7 years. When they decided to exit, they had… Read more »
Tevya Finger, President and CEO of Luxury Brand Partners, wanted to start a luxury hair product company and quickly raised $6M in capital from investors to begin Oribe Hair Care. Before they could really get their products off the ground, the 2008 economic crisis hit and $2M of their start-up capital were frozen by the bank…. Read more »
Some owners focus on growing their profits, while others are obsessed with sales goals. Have you ever considered making it your primary goal to set up your business so that it can thrive and grow without you? A business not dependent on its owner is the ultimate asset to own. It allows you complete control… Read more »
If you are an independent business owner, you are most likely also an independent business seller – if not now, you will be somewhere down the road. The Small Business Administration reports that three to five years is a long enough stretch for many business owners and that one in every three plans to sell,… Read more »
A great business is bought, not sold, so, if you look too eager to sell your business, you’ll be negotiating on the back foot and look desperate—a recipe for a bad exit. But, what if you really want to sell? Maybe you’ve got a new idea for a business you want to start or your… Read more »
Can two companies in the same industry have very different valuations? In short, the answer is a resounding, yes. Let’s take an example of two companies that both have an EBITDA of $6 million but with two very different values. In fact, Business One is valued at five times EBITDA, which prices it at $30… Read more »
Scott Miller grew Miller Restoration to a $3M business specializing in cleaning up the mess caused by floods and fires. When a new business idea caught his attention, Miller decided to sell his business. After two false starts, he ended up successfully selling for 3.5 times pre-tax profit. Miller knew telling his employees would be… Read more »
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