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As a business owner, you know what it’s like to lie awake at 2 a.m. Maybe it has happened when you are excited and full of new ideas for your business. More often, it’s because you are worried about issues you will face the next day. Sometimes, it’s because you just woke up with the solution to a problem. I’ve experienced all those emotions about my businesses over the years. Awake at 2 o’clock? is where I share them with you, and hopefully help with answers that will let you sleep.
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Tag Archives: Exit Options
Exit Planning – Maintaining Control
For many owners, their biggest concern in an exit plan is maintaining control. Whether they seek to sell to employees, family or a third-party, there is a fear that, once started, the process will have its own rules and momentum. My colleague John … Continue reading →
Posted in Exit Options, Exit Planning, Exit Strategies
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Tagged Baby Boomers, Boomer Bust, business, business ownership, business planning, business strategy, entrepreneurship, Exit Options, exit planning, exit strategies, leadership, management, selling a business, small business, small business advice
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Internal Transfers: Legacy vs. Lucre
Lifestyle vs. Legacy Why would I refer to the results of an internal transfer as “lifestyle vs. lucre?” Lucre is a pejorative term. While it is technically just a synonym for money, most dictionaries draw the parallel to its use in … Continue reading →
Posted in Entrepreneurship, Exit Options, Exit Planning, Exit Strategies, Leadership, Management
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Tagged Baby Boomers, Boomer Bust, business, business brokerage, business ownership, business planning, business strategy, employees, entrepreneurs, entrepreneurship, Exit Options, exit planning, exit strategies, leadership, management, small business, small business advice
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Quality of Earnings Part 3: Cash Flow
In the past few weeks we’ve discussed how quality of earnings audits look at your income and expenses, and their impact on company value. Since Revenue less Expenses equals Profit (P=R-E), you could be forgiven for thinking that we have picked … Continue reading →
Posted in Building Value, Exit Planning, Exit Strategies
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Tagged Baby Boomers, Boomer Bust, business, business ownership, business planning, business strategy, entrepreneurs, entrepreneurship, Exit Options, exit planning, exit strategies, financial, leadership, management, marketing, selling a business, small business, small business advice
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One Response to Quality of Earnings Part 3: Cash Flow
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Marsha Kelly says:
Great detailed advice. Cash flow can make or break a small business. I know from my own experience and that of my clients. Run rates are a complex but necessary calculation.
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Quality of Earnings Part 2: Hidden Expenses
In my last post we discussed quality of earnings audits from a revenue perspective. Customer concentration, marginal lines of business and contracts are the three most common revenue traps. If you are comfortable with your company’s strength and stability as … Continue reading →
Posted in Exit Options, Exit Planning, Exit Strategies
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Tagged Baby Boomers, banks, Boomer Bust, business, business ownership, business planning, business strategy, entrepreneurship, Exit Options, exit planning, exit strategies, leadership, management, selling a business, small business, small business advice
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Exit Planning: Telling Secrets
Planning your exit from a business is a process of telling secrets. For many owners, it is the most terrifying part of selling. A rancher in South Texas once said to me, “I’m going to tell you a secret, and you … Continue reading →
Posted in Exit Options, Exit Planning, Leadership
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Tagged Baby Boomers, Boomer Bust, business brokerage, business ownership, business planning, business strategy, employee performance, employees, entrepreneurs, entrepreneurship, Exit Options, exit planning, leadership, management, selling a business, small business, small business advice
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John,
I have seen this happen in leveraged ESOP transactions which is so sad.
Yes Ed, That’s clearly why the Department of Labor is so much more likely to find issues in ESOPs where an employee is the trustee. It is often a warning sign of influence on valuation by the seller.