No Regrets?

Published on 04 March 2012 by in News

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It may surprise you to learn that over 70% of former business owners regret selling their companies less than a year after the sale.  What accounts for this seller’s remorse? The main reason is lack of preparation on the part of the business owner.

Case in point – Roger Elkhart sold his commercial construction company a little over a year ago.  His revenues and earnings had suffered over the last few years.  Roger decided it was time to sell.  He was 56 and had run his family’s business for the last 25 years.  The last few years had been tough and Roger was burned out.  He felt he needed a change.  Now 18 months later, Roger is depressed and lost.  He’s tired of playing golf and isn’t sure that selling his business was the right decision.

A recent survey showed that the number one reason business exits fail is due to a lack of planning on the part of the owner.[1] A separate study showed that most business owners spend more time planning their family vacations then they do planning how and when to exit their business! Rather than [...]

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9 Ways to Leave Your Business

Published on 04 March 2012 by in News

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Determining how and when to start a business is hard.  Deciding how and when to leave it can be even harder.

As many of you may remember, singer Paul Simon said there are 50 ways to leave a lover.  If you are a business owner thinking about how to leave your business you really only have nine options to consider. Here’s a brief summary of these options.

  1. Sell or give your company to a family member;
  2. Sell your business to one or more key employees;
  3. Sell to your employees (ESOP);
  4. Sell your business to other shareholders;
  5. Sell to an outside third party;
  6. Bring in an outside investor and keep a minority interest;
  7. Go public;
  8. Hire a management team to take over and become a passive owner; or
  9. Liquidate your business.

Determining exactly which option is right for you is a challenge that many business owners put off until it is too late.  Opportunities pass with time.  If you wish to “leave your business on your terms and on your time table,” you need to be proactive about understanding your exit options.

We recommend that you follow a four-step process to determine which exit option is best for you. [...]

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CAUTION: DO NOT POKE THE GIANT

Published on 03 March 2012 by in News

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By: Marsha Golgart & John Warrillow

On June 1, 2011, both Floyd’s Coffee Shops in Portland, Oregon were busier than usual. The regulars were elbowed out of the way by new customers visiting the store for the first time to redeem their coupon and get $10 worth of coffee for $3.

This tempting offer was made because Floyd’s had been picked as the first-ever Google Offers “deal.” Google Offers is the company’s first baby step into the world of “social buying” style promotions where a special, limited time offer is made by a business hoping that the deal will spread virally and thereby introduce a new legion of customers to their business.

Google, of course, did not invent the deal-of-the-day category; they were goaded into it after their generous $6 billion dollar offer to buy Groupon was turned down. [...]

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