Category : selling a small business

Accepting the Need to Change

Posted on May 5, 2013 by Michael Podolny 1 Comment ↓

I have been writing about and supporting a thesis discussed by others –that we are not merely in normal cyclic economic downturn.  Rather we are going through a reset of the conditions and rules under which the economy will operate

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The Impending Business Owner Crisis

Posted on February 6, 2013 by Michael Podolny No Comments ↓

The Impending Business Owner Crisis – The Reasons Why Most Business Baby Boomer Business Owners Will Be Crying In Their Beer The Coming Crisis Not all economic implosions are crashes (such has happened recently with the real estate market in

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Driving Profitability by Understanding Which Expenses Are Truly Fixed and Which are Truly Variable

Posted on February 5, 2013 by Michael Podolny No Comments ↓

Profitability is a mandatory requirement for long-term operating success and the building of shareholder (owner) wealth. A key to profitability is having a pricing model that accurately accounts for both fixed overhead and variable expenses. The use of traditional accounting

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Closing the Sale – Selling Your Business

Posted on September 12, 2012 by Michael Podolny No Comments ↓

And now, the exciting conclusion of my business sale series. Be sure to read parts 1, 2, 3, 4 and 5. You’re finally at the stage you’ve been dreaming of, the closing. Now is not the time to be complacent, many a deal has been

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Negotiations – Selling Your Business

Posted on August 14, 2012 by Michael Podolny No Comments ↓

Welcome to part 5 of my 6 part series on the process of selling your business. Click on the numbers to read parts 1, 2, 3 and 4. It is a mistake to try to do the lead negotiating yourself. Hiring

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Initial Visits – Selling Your Business

Posted on July 30, 2012 by Michael Podolny No Comments ↓

This is part 4 of my 6-part series on the business sale process. Please view parts 1, 2, and 3. This is the critical moment to get a buyer beyond rational evaluation. When a buyer develops a positive feeling about

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Presenting the Opportunity – Selling Your Business

Posted on July 18, 2012 by Michael Podolny No Comments ↓

This is step 3 in my 6-step approach to the business sale process. See step 1 here and 2 here.  On average, you can expect to have a list ranging from one to four hundred buyer candidates. Only a small

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Researching Buyers – Selling Your Business

Posted on July 10, 2012 by Michael Podolny No Comments ↓

I have a six-step approach to the business sales process. Step One (outlined here) is creating a document that attractively packages your business for a potential buyer. Step Two is locating appropriate potential buyers. Based upon events occurring in your

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Packaging- Selling Your Business

Posted on June 27, 2012 by Michael Podolny No Comments ↓

Before going to market you should create a document that conveys to buyers the significant facts about your business. This allows the buyer to learn much without having to be in direct contact with you. It should communicate the logical

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The Sales Process – Selling Your Business

Posted on June 20, 2012 by Michael Podolny No Comments ↓

Over the past few months, I’ve been discussing just about everything involved in selling your business. It all starts with your personal definition of success. Then you must consider the fundamentals of pricing your business. Lastly, you must plan in

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