When the owner of a business makes the decision to sell, he or she is taking a giant step that involves the emotions as well as the marketplace, each with its own set of complexities. Those sellers who are tempted to undertake the transaction on their own should understand both the process and the emotional environment that this process is set against. The steps outlined below are just some...Read More
An outsourced or fractional VP of Sales is an expert – experienced in selling and sales management – who can help an organization improve its sales strategies, sales processes, sales tools, and sales systems in order to drive revenue growth. They are a proven sales leader who dedicates a portion of their time each week to a client. They bring a depth of sales management experience and build...Read More
Buyers, as part of their due diligence, usually employ accountants to check the numbers and attorneys to both look at legal issues and draft or review documents. Buyers may also bring in other professionals to look at the business’ operations. The prudent buyer is also looking behind the scenes to make sure there are not any “skeletons in the closet.” It makes sense for a seller to be just as...Read More
There is no doubt that the times are definitely changing. The COVID-19 pandemic has caused a shift across many industries, and the simple fact is that many industries will never return to the old normal. Success in the 21st century will require a good deal of adaptation and the ability to evaluate where you stand today and where you need to be tomorrow.
One of the...Read More
There can be no doubt that selling your business stands as one of the most complex and important decisions you’ll likely ever make. It is quite often the case that a business represents decades, or even a lifetime, of dedicated work. In this article, we’ll examine some of the key steps that you should take when it comes time to sell.
One of the most important steps that any seller can take is...Read More
Companies of all sizes frequently fail to handle customer complaints appropriately. In the digital era, where complaints can be seen by hundreds, thousands or go viral to millions, it is essential that customer complaints, especially serious ones or ones backed by considerable emotion, are treated seriously and dealt with in a timely manner.
If you are failing to provide good customer...Read More
When the goals are to improve performance or enterprise value Key Performance Indicators, or KPI’s, are one of the first places to look.
How do owners measure progress? Besides the big 3 indicators of revenue, profit and cash flow, one should look at how the departmental goals contribute and are connected to the big 3. The key here is that “What gets measured gets improved”.
When developing...Read More
Finalizing a deal is usually a complex process, and there is a good deal of room for error, misunderstandings, miscalculations, and good old-fashioned wild cards. That is why it is critical to carefully think through the deal process well in advance. In this article, we’re going to explore the top ten steps you can take to avoid wrecking a good deal.
Confidentiality – At the top of our...Read More
If you think your business is worth $2 million just because your annual revenue is $2 million, you are wrong. This is the most important asset you own and you need to understand its value.
If you plan to use the value of your business to:
Reinvest to grow
Buy another business
Send your kids to college
Cash it out so you can retire
You need to watch this webinar!
Our panel of experts...Read More
Just as people will form judgments and ideas about you as a person based on first impressions, the same holds true for your company. It is always best to put your “best foot forward,” and this is true whether we’re talking about your personal life or business. Periodically, it is prudent for every company to step back and evaluate its initial point of communication with customers and...Read More