You might not realize it, but business owners have a lot in common with free agent athletes. Not physically, perhaps, but professionally! If you want to set yourself up for a lucrative end game a.k.a. selling your business, you need to plan far ahead - just like a free agent.Read More
Rock Around the Block - The Blog of Rock LaManna
Americans are retiring later in life than ever, says a recent study. The reason why may in part be due to the fact that baby boomers are pushing off retirement. If you’re a business owner trying to avoid a late or nonexistent retirement, prepare to sell your business early.Read More
Are you sure you’re ready to sell? Many owners think they are, but midway through the process, their feet grow cold. Suddenly, they’ve breached a buyer’s trust and their contractual agreements. That’s why you should be logistically and emotionally prepared to sell long before deciding to work with an industry expert.Read More
One thing’s for sure, I wouldn’t have ever sold my business - at least at the price I did - without help from the experts. Yet, business owners are constantly convinced they can tackle the process solo. Here are three comments I frequently hear, and why you’re really hurting yourself in each scenario.
Why don’t you sell your business with the same approach you used when you started your business? For some reason, all the business fundamentals go out the window with this all-important transaction. These eye-opening stats from Canada illustrate my point.Read More
If you’ve heard discussion about exit plans and succession plans, you may have thought they are just issues to be resolved outside your day-to-day strategy sessions. In truth, making an exit strategy for your business plan can set the tone for what you’ll be doing today, tomorrow and five years down the road.First, let’s consider a number of exit strategies used by printing owners:
You hear the terms “succession planning” and “exit planning strategies” bandied about all the time. But all too often, printing owners confuse the terms, which can be a critical mistake when you consider how important they are to your business.