How to raise capital for your business
Before you go down the path of seeking capital from outside your business, identify any other ways of raising capital. For example, do you have any savings (either in the business or you personally) that you could use? If you have unused assets in the business (machinery that’s not used very often, buildings or excess […]
The power of cash flow forecasts
At some point in its lifetime, every small business suffers from cash flow problems. The trick is to think ahead and figure out when these problems are going to arise, so you don’t have to unexpectedly postpone a purchase or hurriedly seek out additional finance. This is where cash flow forecasts come in. To effectively […]
How to value a small business
If you’re buying or selling a small business, it’s critical to know what the business is worth. The challenge is that what you think a business is worth, and what the person on the other side of the fence thinks it is worth, are usually two different figures. In the end, the motivation for both […]
How to succeed at succession planning
A succession plan is something every business owner needs to prepare for the inevitable – the day you’ll transfer assets and control of your business to a family member, business partner, employee, or outside buyer. Many business owners put off succession planning for any number of reasons – they’re busy, they don’t like thinking about […]
Choosing how to value your business to prepare it for sale
Knowing the value of your business is vital should an unexpected buyer come along, and the timing is right for you to sell. You’ll want to get the best price you can so make sure you have an accurate idea of your business’s worth. A business’s value is taken from both tangible and intangible factors, […]
Finding the right successor for your business
Putting a succession plan in place helps ensure the future stability of your business when you step aside or if unforeseen events happen. Succession plans should be made well in advance if they are to be executed properly, and legal battles are to be avoided. Further benefits of a succession plan include a smooth transfer […]
Organizing your business for sale
It’s important to start organizing your business for sale as early as possible. Business owners often think about selling during a downward trend but the best time to sell is when your business is in good shape. If you plan ahead, you’ll be readier when the time comes. Decide whether you’ll continue to help the […]
Planning your exit strategy
Whether you complete your business objectives in a year or 20 years from now, or you just feel like you need a change of scenery, leaving a company you built with your own two hands is never easy. You’ve got to consider your employees’ futures, commitments to financial partners and even family – not to […]
Ten steps for a financially successful exit
Successfully exiting a business is a dream for many owners. Follow these ten steps and you’ll be in great shape to make your dream become a reality. Many entrepreneurs desire to build and sell a thriving business. A financially successful exit is certainly achievable, but it requires several years of hard work and planning. Many […]
Weighing up succession planning options
Planning for the succession of a business is an important and sometimes overlooked part of a business plan. It’s an inevitable period in the lifetime of all successful businesses – so it’s best to weigh up the options early. Keeping your business in the family The most obvious progression is to keep your business in […]