A topic that continuously piques the interest of business owners (and something we enjoy talking about) is how to elevate the value and salability of your business. While most are adept at influencing financial statement line items like revenue and expenses, unraveling the complexities that genuinel
READ MORE »If your business exit strategy is to sell your business now or in 3-5 years, please read on. I consider myself blessed to work with successful entrepreneurs. I love to hear “the story”. How they started in a spare room or a garage with little or no money, grinding it out 80-90 hours a week.
READ MORE »You’ve owned your business for many years. You’ve built it from nothing to where it is today. You enjoy going to work each day and receive a great sense of satisfaction from the daily accomplishments of the business. But now it’s time to sell, or at least develop an exit strategy. The problem
READ MORE »This month's article was written by Ron Buck, Regional Director, Murphy Business & Financial - Carolinas If you are considering selling your company in 2023, there are 5 things you should be doing (or not doing as the case may be) between now and year-end, as well as over the next few months.
READ MORE »You’ve decided you are ready to talk with a business broker about buying or selling your business. It wasn’t an easy decision; there is a lot to consider! You’re a little nervous about making the call and starting the process, but you’re even MORE nervous about making sure you select the rig
READ MORE »How do you know when it’s time to sell your business? To some it might seem like a silly question, but for a business owner (and particularly for a family-owned business), the decision can cause some sleepless nights. Since we work with a lot of sellers, here is a list of some of the tell-tale sig
READ MORE »It’s no secret that businesses are having labor troubles. Everyone is hiring. Hourly wages are going up. Restaurants are reducing hours and days of operation. Supply chains are interrupted. It’s EVERYWHERE. If you own a business, this might be what is driving you to consider selling. Or perha
READ MORE »I consider myself blessed to work with successful entrepreneurs. I love to hear “the story”: How they started in a spare room or a garage with little or no money, grinding it out 80-90 hours a week. Now, after several decades, they have a very nice business. They are all extremely competent and
READ MORE »Have you ever wondered HOW people sell their business when that time arrives? You may know intuitively that it’s not like selling a car or a piece of real estate, but most people don’t know where to begin when they’re ready to sell their business. At Murphy Business, we guide clients through t
READ MORE »If we had a dime for every time a business owner told us they wanted to get a million dollars, five million, or even ten million dollars for their business…well, we’d have a LOT of dimes! Often times there is more of a psychological component to this “magic number” than anything rooted in
READ MORE »Even though most business owners have approximately 85% of their net worth attributed to their business, most run their business day after day, month after month, year after year, and have no idea what their business is worth. They may think they know, but often the price they have in mind is not re
READ MORE »If you own a business, at some point you’ll probably need to know what your business is worth. It might be for estate planning purposes, a major life event, or perhaps you’re thinking about selling your business. Whatever the reason, there are some “valuation traps” out there, so we want
READ MORE »“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
READ MORE »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
READ MORE »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
READ MORE »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 can be “garbag
READ MORE »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… Last week, the Federal Reserve cut interest rates by 50 basis points (0.50
READ MORE »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
READ MORE »With all of the online options at our fingertips these days, it is easier than ever to sell things. You can sell 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 t
READ MORE »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
READ MORE »Congruence explains how things correspond or agree with each other and it has EVERYTHING to do with selling your business. Many buyers mystery visit your business before they make an offer on it. They want to see how your website, collateral materials, products, and staff interact with them as a
READ MORE »Is your business gaining value each year? Are there issues in your business that are reducing the value? Are you counting on the proceeds from the sale of your business to help fund your retirement? In business there is one certainty: At some point every privately held business will be sold
READ MORE »Businesses grow in one of two ways: organically or by acquisition. Growing organically means that you grow slowly but surely over time as the demand and money allows. When you grow by acquisition, you buy another company and absorb them into your organization. Growing by acquisition can be a great b
READ MORE »In an academic setting, a discounted cash flow model sounds like a completely reasonable form of valuing a business. You project out the anticipated cash flows for 5-10 years, use a discount rate and look at what those future cash flows are in present day dollars. The formula for this is usual
READ MORE »If the business is not priced correctly, it will most likely continue to sit on the market. This frustrates you and turns away possible buyers. Most businesses are sold at a price based on current performance. All businesses have future potential that may be much greater than the current numbers, bu
READ MORE »You’ve owned your business for many years. You’ve built it from nothing to where it is today. You enjoy going to work each day and receive a great sense of satisfaction from the daily accomplishments of the business. But now it’s time to sell, or at least develop an exit strategy. The problem
READ MORE »At some point, every privately held business will be sold, transferred to a relative, or closed. Some business owners operate their business without ever considering an exit plan. Then something unfortunate occurs and the business is not prepared to sell, but must be sold quickly – and us
READ MORE »There is an inherent rub when a buyer and seller are trying to negotiate the sale of a business. The buyer wants the lowest price and the most favorable terms possible. The seller wants the highest price and to protect themselves while minimizing their tax bill. Here are a few ways you can help y
READ MORE »One of the questions I’m asked most often is: How does one go about selling a business? The short answer is this: Carefully, and with help from several places. The starting point for selling any business is to engage a trained business broker who will examine and value your business, find a su
READ MORE »Change hurts. Changing our businesses with the times is difficult and we can be forgiven for wanting to avoid anything that’s both difficult and painful. Still, the ways in which businesses connect with their customers has changed and is continuing to do so because those customers’ expectation
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