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What pitfalls or issues did you look for if you bought your company?

Speaking to the owners out there, did you buy your business? If so what were some of the primary... read more

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Yee Trinh Co-founder at SavvySME
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What is the use of bearings?

hey friends can you please tell me the actual use of thrust bearings for different-different... read more

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Buying and selling businesses

Top Ways to Increase the Value of Your Business and Make it More Attractive to Buyers

When selling your business you will want to get the best possible price. You have put blood, sweat... read more

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Buying and selling businesses

How to Find a Bargain When Buying a Business

When buying property they say buy the worse house on the best street. When purchasing a business... read more

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Lina BarfootEditor at SavvySME
Very interesting, great article!
Buying and selling businesses

Business Exits: How Earn Outs Work in Detail - Part One

Investment banks and corporate advisors use earn outs as a way of bridging the gap between what you... read more

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Buying and selling businesses

Selling Your Business: How to Get Agreement on Price Using an Earn Out

Forbes Magazine said recently that the number one reason businesses fail to sell is because the... read more

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Buying and selling businesses

Business Exits: How Earn Outs Work in Detail - Part Two

This is the second part of the article I've written before. You can read the first part of the... read more

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Buying and selling businesses

Roll Ups as an M&A Technique to Rapidly Create Value in Your Business

When your company is looking for growth, a roll up might be the answer. A "roll up" or... read more

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Buying and selling businesses

How to Avoid Being “Pushy” in Sales

Open more conversations with respect The other day one of the General Managers of a company I’ve... read more

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Jef LippiattOwner at Startup Chucktown
I totally agree with the respect angle (especially as a potential client as no previous relationship has been established). Also, I would bring up the mantra, "The User Is Not Like Me". This could be modified as, "A Client Is Not Me". You could also look through the lens of potential client. If you were a client, would this entice you to take action or would you be annoyed? From this self evaluation you can learn quite a lot.
Hitesh MohanlalDirector at WOW! Advisors & Business Accountants
Great article Jenny. Sometimes we write things without really realising the effects it has those we are trying to work with.
Buying and selling businesses

How to Sell a Business

"Start with the end in mind."  That’s the key to selling your business for its maximum... read more

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Brent Szalay Owner at SEIVA
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Brent SzalayOwner at SEIVA
Thanks for your comments Jeff. I agree to maximize the value everything must be documented. This should be a practice that every business should undertake whether they are looking to sell the business in the short to medium term or not.
Jeff GordonPrincipal at Prestige SME Business Solutions
One major mistake business owners make is not documenting everything such as Processes, Procedures, Job Descriptions. If management keep most of the IP in their brains and not documented it will make it more difficult to sell a business and get a higher price!
Buying and selling businesses

How to Buy an Existing Business: A Comprehensive Guide

Many people dream about owning their own business. However, few convert that dream into a reality.... read more

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Buying and selling businesses

Understanding Small Business CGT Concessions: The Complete Guide

Small business is hard. Ask any small business owner and he or she will tell you about the hard... read more

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Buying and selling businesses

Business Brokers: Who They Are And What Do They Do?

As a business person who wish to buy or sell a business, you might be wondering if it’s really good... read more

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Buying and selling businesses

Small Business Brokers: Do I Really Need One?

Do I really need small business brokers to help me? Let us begin the discussion this way:  Now... read more

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Buying and selling businesses

Important Things To Consider When Buying A Small Business in Australia

When one thinks of buying a business that is already up and running, there are certain points to... read more

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Buying and selling businesses

1 in 10 of us own a business……..surely not

Here are over 2 million registered businesses operating in Australia, according to the most... read more

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Hardly surprising though Huang...Just shows that small business is the backbone of this country
Wendy HuangFull Time Blogger and YouTuber at A Custom Blog in 4 Minutes
Wow that some interesting stats Bill!
Buying and selling businesses

Cyber Monday: It's The Most Wonderful Tax Evasion Day Of The Year!

Keyboard (Photo credit: cheetah100) Today is Cyber Monday. Chances are, if you’re sitting at your...read more

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Questions

How do I sell a business without using a business broker?

A friend of mine wants to sell his small Japanese restaurant, however, he doesn't have the money to... read more

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Ling Lee Director at Japanese Sword Auctions Australia
Hi Ling, From my experience i think it varies a little from industry to industry but there are a few websites such as Seek Commercial which seem to cater for just about all types. There may also be specialised websites specifically to the food industry. The owner should also engage their accountant or other people they know in the food industry to determine what a fair and reasonable valuation method is for the restaurant to ensure they don't sell it for under its true worth. If listing on websites is unaffordable then perhaps just having a chat with people they know run similar small businesses would be a good option. You never know who might be looking at trying to find exactly what they are trying to sell. Stuart.
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Buying and selling businesses

Online fraud - simple rules to reduce your risk

Fraud can be a very emotional for most people, having something stolen from you is never a nice... read more

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Richard Brock Founder at Online Business Consulting
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Buying and selling businesses

Small Businesses, Hold Them or Sell Them?

At some stage in your business life you will encounter the situation of whether to keep your... read more

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Hi Phil, well said. Great strategy.
Phil JoelDirector at SavvySME
Hi Anthony, Great article. I'd like to add that depending on the type of business you are in and the conditions of the Sale that you can realistically achieve, you may want to aim to sell your business before it hits its peak otherwise you may not be able to satisfy the conditions of the sale and therefore not able to maximise on the full financial potential of the deal. For instance, if you are expected to continue to work in the business for a further 2-3 years after the sale and are expected to grow the business in that time as a condition of the sale then it is obviously going to be easier if the business was still growing at the time of the sale. You could also attract more interested parties and potentially multiple offers if the business is deemed to have bright prospects. You will then be in a much stronger position to negotiate a favourable outcome.