Many factors go into the success of a company. You’ve got to offer high-quality products or services, provide outstanding customer service, and manage your inventory or supply chain. But there’s at least one other success factor that many business owners often overlook: ...
The decision to work after “normal” retirement age is one that more and more of us are facing these days and for a variety of reasons. Here at BB we are asked the “should I retire question” frequently as more of our clients are facing possible retirement. We counsel ...
Every business with more than one owner needs a buy-sell agreement to handle both expected and unexpected ownership changes. When creating or updating yours, be sure you’re prepared for the valuation issues that will come into play....
Some business owners — particularly those who founded their companies — may find it hard to give up control to a successor. Maybe you just can’t identify the right person internally to fill your shoes. While retirement isn’t in your immediate future, you know you mus...
Please join us on May 30th for "Plan Today - Exit Tomorrow". This event at the Metropolitan Ballroom & Clubroom will focus on key strategies for a smooth transition. Complimentary registration is available for business owners and executives who are considering pursuing an ...
Many business owners who inquire about business valuations have a very limited understanding of what the valuation process entails. I’ve had well-meaning but unknowing clients hand me a couple years of Quickbooks P&Ls and say “call me when it’s done."...
For some business owners, succession planning is a complex and delicate matter involving family members and a long, gradual transition out of the company. ...
Often when we talk to clients, attorneys, or other professionals about business value, they want to think in terms of EBITDA multiples. It is, after all, the standard valuation metric in the M&A world, and for good reason....
1. Liquidity: The owners want to ensure a ready market for their ownership interests (in the event of death, disability, retirement, etc.). A mandatory buyout provision provides liquidity to the family of a deceased or disabled owner....
There’s an old saying regarding family-owned businesses: “Shirtsleeves to shirtsleeves in three generations.” It means the first-generation owner started in shirtsleeves and built the company up...
Any business owner developing a succession plan should rightfully assume that regular business valuations are a must. When envisioning the valuation process, you’re likely to focus on its end result: a reasonable, defensible value estimate of your business as of a certain ...
A buy-sell agreement is a critical component of succession planning for many businesses. It sets the terms and conditions under which an owner’s business interest can be sold to another owner (or owners) should an unexpected tragedy or turn of events occurs....
