Top 5 Reasons to Sell Your Business
What You’ll Learn Five basic but smart reasons you should sell your business How to sell your business to the right buyer and get the most out of your decision …
Team Acquira
What You’ll Learn Five basic but smart reasons you should sell your business How to sell your business to the right buyer and get the most out of your decision …
What You’ll Learn How to perform an initial assessment of a business to buy How to estimate the market value of a business The important steps in performing your due …
For your business to function in a unique way that brings value to the company and its customers, you need to establish core values. They serve as binding principles for your company’s culture, identity, direction, and goals. Before you tap into the benefits of core values for your business, it helps to understand what they are, why you need them, and how to create them.
Becoming a small business owner can be rewarding and challenging at the same time. If you’re prepared to take the plunge into business ownership in 2021, you’ll want to know what you’re getting into. We’ll explore in detail the pros and cons of owning a small business. You’ll learn what to expect from business ownership so you can position yourself to succeed better in your next entrepreneurial steps to financial freedom.
Financial due diligence is just not for security brokers. Anyone looking to make an investment, such as purchasing a business, should perform due diligence with the highest standard of care. Due diligence is an audit or investigation of the potential business you want to acquire. Besides reviewing financial statements, any interested party should do their best to confirm any stated facts by the seller.
A lot of people think that when you own a company, it needs to be built from scratch - pulled by the bootstraps from the ground floor up to the executive suite. But the reality is that many business owners end up acquiring a company after it’s already been operating for some time. This comes with its own pros and cons, but buying an existing company is a great way to step into an ownership position right away. You may also be looking to expand a business you already own, or acquire a company that can complement your offerings in a unique way. Whatever the reason, our business buying guide should help you on your journey.
Many of the entrepreneurs that we work with come as a package deal with their spouses. Going through the process together can serve as a great comfort during the sometimes stressful experience of buying a business. However, it can also create unnecessary bottlenecks. Fortunately, there are ways to approach a business acquisition and eventual ownership as a couple that are both efficient and won’t ruin the relationship.
When you enter the business as the new owner, you know that the seller is leaving. Whether they’re retiring, pursuing a new opportunity, or devoting all of their time to learning the lost art of close-up magic, they’re not going to stick around forever. You need to learn every aspect of what the seller does and you don’t have the luxury of time.
Because of that, the number one thing you need to do after taking ownership of a business is make sure you know what the owner did day-to-day, identify their key relationships, how many roles they hold, and anything else they do that helps the business run. Then you need to teach that knowledge to someone else and assign those roles to other people.
This is what we call a succession management plan.
The entrepreneurial urge is a powerful one. Entire tomes have been written about people who have started their own businesses and risen to the heights of success. But the simple fact is that not everyone has the time, dedication, or wherewithal to build a business from the ground up. Fortunately, there's another way. One of the more common ways to scratch the entrepreneurial itch is to acquire a company that already exists. There are actually a number of advantages to buying an existing business.
Whether you’re the owner of a business or a shift supervisor, learning how to identify high performers in the workplace is a key responsibility for any manager.
High-performing employees can be the difference between success and mediocrity. Sometimes they are the owners, sometimes they are employees. Either way, it’s vital to understand them.
But how do you recognize which workers are outperforming their compatriots and how do you use that knowledge?
In this article, we discuss how to identify high-performing employees, how to define success, and how to turn that knowledge into a system that can help you grow your business.