In my conversations with prospective sellers, I regularly encounter two repeating mindset mistakes that cause big problems when trying to sell a firm or business. Selling the Whole and the Parts The first mindset mistake is when the owner wants to get paid for the business, and then paid again for some or all the […]
Seller Mindset Mistakes Read More »
After helping professionals and business owners exit their firms over the past 29 years, I’ve found there is one thing that, above all, can destroy firm value. This thing is often hidden to the owner, but something that every buyer looks for. Most people don’t appreciate the impact this thing has until it’s too late
The Hidden Destroyer of Business Value Read More »
Lawyers have before them today a lucrative opportunity not available to other business owners. And I’m certain this opportunity won’t last long . . . The opportunity is buying a law practice. A properly run law practice will generate between 25% and 40% of gross fee revenue in owner benefit. A firm grossing $1MM should
Legal Gold Rush: Seizing the High ROI Opportunity of Buying Law Practices Read More »
As a broker member* of the International Business Broker’s Association, I receive its Market Pulse report each quarter. This report provides insights into main street (less than $2MM) and middle market ($2MM to $50MM) transactions and sentiment. The most recent report for the second quarter of 2020 has some interesting insights: For main street transactions
What’s Going on in the Small Business Transaction Market During the Pandemic Read More »
Guest Author, Matthew FitzGibbon, CBI, ASA Matthew FitzGibbon has a diverse background in business operations, transactions, and commercial real estate. He has a Certified Business Intermediary (CBI) designation from the IBBA and is an Accredited Senior Appraiser (ASA) in the American Society of Appraisers. He is also the President of FitzGibbon Alexander, Inc., a Central
How Will the Coronavirus Pandemic Affect the Value of My Business? Read More »
Update: April 3, 2020 New regulations have come out detailing how to apply for loans under the Paycheck Protection Program, a provision of the CARES Act. Learn more below! In times of real economic turbulence, businesses need to hunker down and take stock of what resources are available to them. I don’t only mean the
Small Business Resources to Survive the Impact of Coronavirus Read More »
Businesses across Florida and the United States are trying to figure out how to respond to the outbreak and spread of the coronavirus pandemic. Numerous public safety guidelines have been issued, and, although they will benefit the health of the larger community, there is an economic trade off. Global supply chains have been disrupted for
Creating Company Resilience to an Economic Downturn Read More »
Think about the last seminar you attended or business book you read. I bet you walked away from that seminar inspired and ready to put that knowledge into action in your business. But did you? You spent hours (and possibly a large sum of money) to acquire this knowledge, but despite recognizing its benefits, how
The Most Productive Way to Waste Time Read More »
Employees are absolutely necessary to build and grow a profitable business. Often, in fact, they are considered a business’ most valuable asset. But—whether at the hiring, management, or firing stage—poor employment practices can have disastrous financial or legal repercussions. Proper hiring and training practices are essential to ensure that you bring on qualified employees who
Three Costly Employment Mistakes Read More »
In business there is one timeless rule: you will leave your business at some point. Business owners should always prepare for their business exits well in advance. In my experience, an unplanned exit will usually be an unprofitable one. Great care should be taken when you’re considering selling your business to a third party buyer.
7 Easy Steps to Improve the Salability of Your Business Read More »
