Articles

A New Year’s Resolution for 2021

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Posted by Jennifer Smith on

It’s a new year! And while it may not feel that much different than the challenging one we left behind, it’s still traditionally a time to assess our current situation and make a resolution to change things that need to be changed. Often, we try to look at ourselves objectively and determine if ...
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Throwing Good Money After Bad

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Posted by Jennifer Smith on

“Know when to hold ‘em, know when to fold ‘em, know when to walk away, and know when to run…” Kenny Rogers may have been talking about gambling, but the lyrics work for business owners too. Over half of businesses in the US have been impacted by COVID this year to some degree and as we ...
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Marketing Blindly and Nationally

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Posted by Jennifer Smith on

If you’re a savvy business owner, you know that maintaining strict confidentiality is critical when selling your business. Only a handful of people should know you’re thinking of selling: your spouse, financial planner, accountant, and attorney. Often, this element alone will push a seller towar ...
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Murphy Business Of Cape Girardeau Announces New Endorsement

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Murphy Business of Cape Girardeau has announced a new endorsement. They are now an endorsed provider for Dave Ramsey’s EntreLeadership Toolkit. EntreLeadership helps business owners grow themselves, their teams, and their profits through online business coaching and live events. They have created ...
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The US Economy and Business Sales

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Posted by Jennifer Smith on

Three quarters down and one quarter to go for 2020…we can do this!  If you’re exhausted with running your business, think COVID is a dirty word, and you’re disenfranchised with all things related to our economy and this upcoming circus of a presidential election:  You’re not alone. There i ...
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Lending Posture

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Posted by Jennifer Smith on

One of the top questions we’re asked in this unprecedented COVID environment is “are you still selling businesses?” The answer is a resounding YES! The follow up question usually has something to do with how banks are supporting those transactions, so we thought we’d examine what we’re see ...
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Hope is Not a Strategy

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You probably have a financial advisor who is managing your money and will advise you as to whether or not you’re on track for retirement. That’s smart and, for most of us, essential. Even the most talented, worth-their-salt money manager will tell you that their financial models are “garbage-i ...
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Can Selling Your Business be a DIY Project?

Posted by Jennifer Smith on

Business owners often consider trying to sell their business themselves. For some people, this may be a viable option, but for most it isn’t a wise business decision. There is a lot that goes into the complicated, time-consuming process of selling a business. When you hire an experienced busin ...
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SBA Incentives for Business Acquisition and Sales

Posted by Jennifer Smith on

I hope this newsletter finds you and your family healthy and well. From a business standpoint, these are challenging times for business owners but also for business buyers (people in need of income). Many of our newsletters are related to exit strategies and particularly exit timing, and th ...
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When You Feel Tired

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Fatigue. A lot of us are feeling it right now. Life as we know it has changed drastically and frankly, it’s exhausting. As business owners, there are several things that can cause that oh-so-tired feeling as well as sleepless nights. The important thing is to recognize the feeling instead of just ...
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SBA Resources for COVID-19

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We hope you, your family, and staff are doing well and staying healthy. We wanted to make sure that you are aware of a few resources/options that you may want to take advantage of to help support your business as we grapple with the changing environment due to COVID-19. Apply for an SBA Disas ...
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Coronavirus and Business Brokerage

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Posted by Jennifer Smith on

[embed]https://youtu.be/VQFHdUgdgTc[/embed] Coronavirus. Yep, we’re jumping on the bandwagon. Why on earth are we, business brokers, talking about Coronavirus?! It has nothing to do with buying or selling business, right? Hang with us for a minute… On March 3rd, the Federal Reserve cut int ...
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Retaining Key Employees

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Posted by Jennifer Smith on

Think about the key employees in your business. The ones who understand how everything works: employee roles, client preferences, supply chain, cash flow, compliance, etc. When they take a well-deserved vacation, you FEEL it and so does everyone else. They might be in sales, support, administration, ...
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2020 Forecast

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Posted by Jennifer Smith on

2019 is in the books. In general, people are feeling pretty good right now. The S&P 500 was up 28.9% and the Nasdaq was up 35.2%. Unemployment is crazy low at 3.5%, optimism is high, and although there has been lots of turmoil nationally and globally, it has mostly impacted a few specific sector ...
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The Importance of Knowing Your Business’s Value

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Posted by Jennifer Smith on

How much is your business worth? How much is it actually worth to a buyer if you were to sell it right now? Even if you’re not ready to sell at this moment, knowing this number is very important for a few reasons: Planning: We know that most business owners work with financial planners and ac ...
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Competition

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Posted by Jennifer Smith Hendrickson on

Non-competes. You’ve probably been exposed to them at some point. Perhaps you have employees sign them or maybe you have signed one yourself at some point. Non-competes are also a very important component of a business transfer. Imagine this: You bought a high-end restaurant. Since you struck a ...
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8 Ways to Make Buying a Business Less Scary

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Posted by Jennifer Smith Hendrickson on

In addition to eating a ridiculous amount of candy corn, with Halloween around the corner, we’ve been thinking about all things scary. Here are some things that can make an entrepreneurial leap a little more comfortable. If you’re a business owner looking to sell, take note of these things too a ...
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Business FSBO

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Posted by Jennifer Smith Hendrickson on

With all of the online options at our fingertips these days, it is easier than ever to sell things. You can buy everything from a couch, to a car, to a house just by listing them online. In these days of the FSBO (For Sale By Owner) posts, wouldn’t it just be easier to try to sell your business th ...
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Should I Tell My Employees I’m Selling?

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Posted by Jennifer Smith Hendrickson on

The short answer: no. We have sellers all the time who ask us this and our answer is always the same: it’s a bad idea. Even if your team is small in number and a very tight knit group, we still recommend that you don’t take them along with you on the ride of selling a business. There are a few l ...
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Part Angel, Part Pit Bull

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Posted by Jennifer Smith Hendrickson on

Obviously we think that having a business broker when buying or selling a business is important; that’s why we do what we do. But why do our clients love us? Our broker, Jennifer, and our team are great at getting results. Just read this testimonial from a client whose deal we closed last month: ...
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