Prepare for Sale of the Business
You have worked hard to build your business and now you want to sell it. Will you get fair value for your efforts? Determining the value of a business is often the first step in the process of selling a business. But it shouldn’t stop there. If your business has multiple segments do you understand how much profit is being contributed by each of these segments? This is a very important element of the strategy of selling your business. We can help you analyze your business to maximize its value. We can also identify sources of value and areas of your business that can be improved. For example, does the business have excess assets that can be sold before the sale of the business without impacting the value of the business?
Planning Most business owners do not plan ahead for the time when they will decide to sell their business. Often when they make up their mind to sell, the business isn’t worth what they had hoped. Don’t wait until a few months before you plan to retire to plan your exit strategy. Your succession planning should begin well in advance of your planned exit from the business. Your planning should actually begin on day one! A formal plan for a transfer of ownership should be high on your priorities. Don’t leave your spouse or heirs in the position of having to make the biggest business/financial decision of their lives without a comprehensive plan.
Cash Flow Problems
Probably the number one reason for businesses needing assistance. Counter to many people’s intuition, a growing business normally requires more cash than a dying business so there is no shame in asking for help.
Obtaining Loans & Financing
Applying for bank loans or financing for your business can be frustrating and time-consuming. Through our preferred partner program we have Commercial Loan Consultants who work with you to navigate the SBA, Patriot Express or Conventional Loan Processes.
A common issue in these difficult times. Many companies are seeing higher prices for raw materials and labor at the same time as customers are resisting any price increases. We can help you develop and implement a strategy to return the profitability to your company.
Desire to Grow the Business
We can help you analyze your business to determine which segment of your business is the most profitable and thereby determine the best and most profitable path to growth. We can develop a Sales and Marketing plan. We can even help you get your company listed as a vendor to the Federal Government under the Small Business Set-Aside Program.
Are you running your business or is your business running you? How do you motivate employees so that they become self-managing and self-directing work teams with their goals aligned with yours? We have experience developing Employee Motivation Plans for hundreds of companies.
We have the experienced managers and contacts in many different industries. We can help you with interim management whether it is to fill a short-term need or for an employee illness or for a longer-term need such as while you search for a candidate to fill a permanent position.
Competition Are your margins being squeezed by your customers or your competition? Are your competitors outsourcing overseas? Are there more competitors moving into your business.
Strategic Planning/Business Plan Development
As the old phrase goes “If you don’t know where you’re going it doesn’t matter how you get there.” Every business needs a plan and, increasingly, lenders require a business plan prior to approving a business loan or a credit line. Every company should have a Strategic Plan that is reviewed regularly. Our consultant can help you develop a plan including performing relevant market research for your industry in your marketplace.
Frank Chebalo, the Managing Member of the Hampton Roads Office of Murphy Business & Financial Services LLC is a Certified Business Intermediary as well as a Certified Business Consultant and has assisted numerous businesses navigate difficult challenges. Give Frank a call for any Business Related or Consulting needs… (757) 524-6032 or email at: firstname.lastname@example.org