Improve the Odds for a Successful Third Party Sale
Before you put your house on the market, you might fix a broken step or clean out your garage. Before buying a car you might research the horsepower, gas mileage or long-term value. Before you take on your largest order for products or services in the history of your company, you might give some thought…
Fighting Threats That Diminish Business Value
When preparing an exit strategy, many business owners focus on operations and profitability, certainly two key areas. But in many industries, external factors can pose a threat to business value that the best-run company may not be able to overcome. In a rapidly changing, volatile marketplace, it is critical to understand and proactively respond to…
Can You Afford To Sell To Your Employees?
Business owners often tell us that, in an ideal world, they would sell their businesses to their best, most loyal and/or most ambitious employees. Business owners frequently dismiss this option because their employees don’t have enough money to buy the business. Is this the right decision? Is there a secret ingredient that might allow you…
Charitable Giving Hit Record Numbers in 2014
Charitable giving is up – way up, according to the new Giving USA yearly report released in June. Charitable giving increased 7 percent to nearly $358 billion in 2014, more than any year in the 60-year history of the organization’s Annual Report on Philanthropy. The total slightly surpassed the previous high of $355 billion in…
8(a) Certification and Sole Sourcing – What Does it Mean and Do You Qualify?
If you are a small business, you have heard of contractors receiving a sole source contract because they are 8(a) certified. What does this mean and is it something your firm can participate in? First, you must go through the 8(a) certification process, which is getting increasingly difficult because the SBA has been cracking down…
Microchip Fraud Deterrent Now in U.S. Credit Cards
Credit cards containing microchips that have been deterring crime in Europe for years will finally make a widespread appearance in the United States beginning this fall. By the end of 2015, nearly 600 million microchip credit cards should be issued in the United States, with 60 percent of retail locations ready to accept them, according…
Approach Crowdfunding Investments with Caution
Crowdfunding is a method of funding ventures, projects or good causes through contributions from a large number of people. Typically, contributions are solicited via the Internet using a “platform,” a third party that brings the project initiator and the investors or contributors together. If you Google “crowdfunding,” you will find a host of such platforms….
Difficulty Finding Capital Still Hampers Growth
In 2015, small business credit is again a key factor hampering growth and expansion. Businesses at all stages cite lack of credit availability as a top concern, according to the 2014 Joint Business Credit Survey administered by the Federal Reserve. While startups perennially have difficulty because of not having a track record, the reporting of…
Run Your Law Firm Like a Business
Most attorneys have one primary focus: serving their clients. Whatever their branch of law – be it criminal, civil, family or real estate – they typically choose a field that peaks their passion and interest. They keep up to date with changes in law and find solutions to client woes. Like many entrepreneurs, attorneys learn…
Avoiding Common Roadblocks to a Successful Exit
Some owners make a choice not to sell their companies for very legitimate reasons. Among them are: They still have enough fire in the belly to fuel their investment of time and energy in the business. They are grooming interested family members or employees to one day assume the reins. Some owners, however, have businesses…