We’ve said before how important it is to cultivate a relationship with your banker. Such a relationship will be important not just throughout the lifespan of your business but particularly when you want to craft an exit. That said, sometimes market conditions, or the conditions of your business, call for alternative forms of […]
This is the first in a new series for the blog: stories from our own clients about their experiences selling with us. We hope you enjoy them! Roger was the third generation owner of a contracting business that had been operating since 1954. He entered management of the company in 1997. In 2006 he took […]
Jim McManaman owned Solution One, an accounting and tax firm that handled business and personal accounts. At its peak, he had six employees and had just added a fee-only financial planning practice to the company. The company was very much a “main street” business, and for Jim, apart from tax season, it was a […]
There is an inordinate level of romance associated with building a business from scratch. Shows like Shark Tank and The Profit only exacerbate the issue. Though such shows do show the struggles that these business owners face, the very appearance on television creates aspiration: “I want to do that too.” First-time entrepreneurs looking […]
There are some books out there that can tell you the financial side of how people exited their businesses, but there’s not too much literature on the emotional process of selling. Bo Burlingham often refers to a sale as just another “phase” of the business. Dan Andrews and his business partner experienced a seven-figure […]
In a previous article, we discussed various signs that it’s the right time to sell your company. What so many people see as ultimately mostly a financial transaction is possibly going to be one of the most emotional things they ever experience. So, even clicking through to read an article with such a […]
In 2003 Jill Nelson founded Ruby Receptionists to help small businesses provide a great first impression to new potential customers by providing an answering service. This could help the business who just needed one person to provide skeleton phone coverage or a growing firm that needed scalability over time. She’s still in charge of […]
However a business owner makes it to that critical moment when he or she decides to sell, it’s important to realize that this is the beginning of an entirely new process. Whatever amazing expertise he/she may possess in running a business, selling a business is something entirely separate. More than anything, emotion can get […]
Many of our brokers are involved in giving back to our community. We will occasionally share some of those stories with you. “It’s important to take care of where you live, not just your own street…but your neighborhood. You naturally want to improve it in every way.” With an attitude like that, it’s easy to […]
Earlier this year, Todd Edwin Rood was sentenced in federal court for lying about the assets and liabilities of a company he’d sold just the previous year, Rood Machine & Engineering, in Kearney, Missouri. In addition to a jail sentence of four years without the possibility of parole, he’s been ordered to pay $1.3M […]
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