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How much goodwill do you have in your business?
The term “goodwill” is often thrown around in conversation as though it is a subjective description of how much your customers like your business. In fact, when it comes to valuing your business, there is nothing subjective about the definition of goodwill. It is defined as the difference between what someone is willing to pay…
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5 Ways To Get Your Business To Run Without You
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 that is not dependent on its owner is the ultimate asset to own. It gives you…
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Finding A Path Forward: A Coaching Success Story
Even though Simalex – a good old fashioned die casting company – had decent cash flow and customers with brand names, the company had been mismanaged for a number of years and was in rough shape when Fred Lynn Jr. took over as CEO. Fred was essentially taking over a start up. Fred is extremely…
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When selling your business, how is a financial buyer different than a strategic buyer
Microsoft’s recent $26.2 billion acquisition of LinkedIn provides an illustrative example of a strategic acquisition – the type of sale that usually garners the most gain for the acquired company’s shareholders. You may be wondering what a billion-dollar acquisition has to do with your business, but the very same reasons a strategic acquirer buys a…
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Can Your Business Run Without YOU?
Making your business less dependent on you has a number of benefits: you can scale your company more quickly if you’re not acting as a bottleneck; you get more time to enjoy life outside of your business; and a business less dependent on its owner is much more valuable to an acquirer. Pulling yourself out…
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10 Things That Make Your Business More Valuable Than That of Your Industry Peers
The value of your company is partly determined by your industry. For example, cloud-based software companies are generally worth a lot more than printing companies these days. However, when we analyze businesses in the same industry, we still see major variations in valuation. So we dug through the data available to us from our partners…
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The hidden goal of the smartest business owners
What are your business goals for the year? If you’re like most owners, you have a profit goal you want to hit. You may also have a top line revenue number that’s important to you. While those goals are important, there is another objective that may have an even bigger payoff: building a sellable business.…
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Soon you’ll be thinking about New Year’s Resolutions…
The start of the New Year is often the perfect time to turn a new page in your life, which is why so many people make New Year’s resolutions. But why do so many resolutions fail? Well for starters, is it just coincidence that the most common New Year’s resolutions are to lose weight, get…
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When should you fire your client? A short case study.
Recently, I saw this post from someone on my social media feed: Question: I want to fire my client but a great deal of recurring revenue depends on this one account. What should I do? Here is their post: I need to “FIRE” a Client, but as one of my top 3, it forces me to walk…
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How to build a business that runs smoothly, profitably, and (mostly) without you
Feeling stressed out and overwhelmed with a business that is taking all your time - and not giving you enough in return?
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