Starting a new business can be very exciting, and for many people it is a lifetime dream. Unfortunately, it can also be daunting, time consuming, expensive and a very risky endeavor. The reality is that 20% of all businesses fail within their first year, and 50%...

Taking a step back and allowing your business to run itself can be a big challenge, especially if you’re used to making all of your company’s decisions and solving all of its problems. In the first two parts of our “Getting Your Business to Run Without You” series, we...

Most entrepreneurs who start their own business or purchase one, do so with the full intention of having more freedom and independence. Unfortunately, many of these business owners get too caught up in the daily grind and trying to be involved in every aspect of their...

When a business is running smoothly, it can be incredibly satisfying. Not only is it profitable, but you can choose your own hours, who you do business with and the direction of your career. On the other hand, if it’s not running smoothly, you can find yourself at the...

Running a business can be difficult enough, without also having to track and prioritize your company’s financial metrics. While you may have a CPA or a bookkeeper tracking these things, it is important to understand which metrics are the most important, so you have a...

Selling a business is never easy, especially when you’ve spent several years, or even decades building it. This is not only due to the huge amount of preparation required to get it on the market, but also the personal connection you’ve developed with it over the...

As a business owner, you know how hard it is to build, grow and run a company. Why would you invest all that time and effort and then risk selling your business for less than it’s worth, or not realize its full potential? Nobody wants to do that, and yet many business...

Most business owners want to do whatever they can to reduce their tax liability. To achieve that, they do whatever they can to reduce their company’s cash profits including deducting several additional expenses. If you use this strategy, it is a perfectly legal and...

Selling a business is a daunting task that no business owner should try to do on their own. Running your own business is difficult enough without also having to simultaneously entertain potential buyers and deal with back-and-forth negotiations. Working with an...

The process of selling a business can be very intricate. A successful sale requires being in tune with what buyers are looking for and addressing any potential risk factors. Consulting with a professional business broker can help shed light on what your business needs...

Even if you aren’t ready to sell a business, you should have an exit strategy in place so you can plan for a  financial future when you are no longer part of your company. Part of creating this strategy is considering the role that taxes will play so that they don’t...

Many business owners operate their companies believing that they have to work a full-time schedule, or more, to be successful. The idea that this is necessary to run a successful business is a myth. You might feel like you must be involved in every decision, be...

When creating an exit plan for a business, whether you plan to sell it or groom a successor, you must prepare well in advance. If you’re planning to sell, you need to focus on how to effectively market your business to buyers. While you may have a specific type of...

Most business owners have dedicated a large portion of their lives towards growing their businesses. They have made countless sacrifices along the way. Even though many also get caught up in the day-to-day stresses of their companies and get burned out, their ventures...

Most people who start their own business are looking for freedom and dream of making their company run without them. Somewhere along the line, many of those same people start believing that they need to make all of the decisions and do almost all of the work, just to...

Most business owners plan to sell their company someday down the road. If you own a business, but don’t plan on selling for at least a few years, you are in a good position to start preparing it now. Getting a business ready to sell can take several months to a few...

Exit planning is an integral part of running any business. Ideally, your exit strategy should be in place from day one, so all big decisions help to not only build a successful business, but also a successful exit. For many business owners, exit planning isn’t just...

The process of selling a business can carry a lot of emotional weight. After all, you’ve spent countless hours of your life into building your business and it has probably become a big part of your identity. Because of this, it’s no surprise that many sellers suffer...

When it’s time to sell a business, many business owners attempt to do it on their own. This is usually due to the common misconception that it is both easier and cheaper than getting help from an M&A advisor such as a business broker. When they do, a common...

Preparing to sell a business is the most apparent reason why a business owner might need an business valuation. Whether you are attempting to sell or not, understanding the true value of your company can help you to see the progress you have made and make informed...