Many businesses have a product or service that’s performing reasonably well, perhaps even thriving, but doesn’t quite align with the company’s core offerings. It’s often called an “orphaned” product—a good or service that is disconnected from the company’s main focus. If you find yourself in this situation, don’t panic. It’s more common than you might…
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If your business interacts with customers, it’s inevitable that at some point, you will receive customer complaints or negative feedback. The key to turning these situations into opportunities is how you handle them. Ignoring or dismissing customer complaints can damage your brand’s reputation and customer loyalty. However, addressing these issues effectively can improve your operations,…
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Before delving into the specific steps that benefit business owners who are looking to sell quickly, it’s crucial to understand the buyer’s viewpoint. For many buyers, purchasing a business is a once-in-a-lifetime event, often involving significant personal and financial risk. Therefore, sellers must take proactive steps to ensure their business is as appealing and risk-free…
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While learning that you have a serious buyer for your business may feel like a cause for celebration, it’s important to hold off on the champagne. The journey from a buyer expressing interest to a finalized sale involves several steps, and your business broker or M&A advisor will play a crucial role in guiding you…
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As a business owner, one of your ongoing priorities should be finding ways to save money. Ultimately, this will boost your bottom line and make your business more attractive to buyers. Let’s take a look at some strategies to run a more efficient and cost-effective business. 1. Consolidate Services for Better Deals There are many…
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Most business owners fret about whether they are asking too much or not enough for their goods or services. This dilemma keeps many prospective sellers up at night. Ask too much, and you may fail to attract enough customers; ask too little, and you’re cutting yourself short. In this article, we’ll examine how to determine…
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For many business owners, deciding to sell their company is one of the most significant financial decisions they will ever face. This choice not only alters their financial situation but also impacts their lives as a whole. Life after selling a business can be vastly different, so it’s essential for owners to consider what their…
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Business owners are constantly seeking ways to cut costs and boost profits to make their businesses as attractive as possible to buyers. Fortunately, there are many surprisingly simple strategies to save money across various aspects of your business. 1. Embrace Digital Solutions One effective way to save money is by going digital. Just as you…
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If you, as the seller, want to receive the best price for your business, it’s essential to understand that your adjusted or normalized EBITDA will serve as the foundation for the purchase price. This EBITDA will be used as a multiple to negotiate the final price. Every dollar counts; for example, if your EBITDA…
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Selling a business is rarely as straightforward or fast as business owners would like. Unless you’ve sold a business before, there will be unforeseen obstacles. Even if you’ve sold a business before, you will likely run into hurdles along the way. The fact that every business is different, and this impacts the variables associated with…
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