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Know when you want to transition out of your business

By Billy Richardson | September 13, 2018

One thing is for sure, we all will transition out of our business. The questions are how and when? While none of us have the foresight to know for certain, your plan should include a transition that you desire instead of a transition you have to take. A date certain transition is the most common…

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Know and pursue the transition alternative(s) that meet your needs

By Billy Richardson | August 16, 2018

Being prepared for a transition event is vital to meeting your needs for life after business. Knowing when you want to get out of business is important but more importantly is knowing how you get out of business is what will provide peace of mind. While there is no checklist to determine which is the…

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Know what you want for and from the business

By Billy Richardson | July 5, 2018

What you should want for and from your business is a return on investment. Over the years, you have received compensation for working for your business and hopefully you have received some forms of compensation for owning your business. The compensation you receive for owning your business comes in two different forms: the first is…

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There’s No Time Like the Present

By Billy Richardson | April 10, 2017

I’ll figure it out when I’m ready to retire, which is the day after never …. That is the response we get from small business owners when we ask how much their business is worth.   The wealth of more than two-thirds (70%) of all small business owners is tied up in their business. For…

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The Real Value of Your Business

By Billy Richardson | January 4, 2017

The real value of your business is what you can get for your business.  The trick is being able to command what you want for your business instead of taking what you must take for your business.  This value demands discipline not to be in a position of having to sell your business because you…

Whom Do I Sell My Business?

By Billy Richardson | August 26, 2016

While a business owner may think their business would be attractive to everyone, this can only occur when you position the company to be so. Depending upon the culture and the structure of the business, not all buyers are the same. The business owner should determine early on who the best buyer of the business…

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My Business is Worth What!?

By Billy Richardson | November 3, 2014

The calculation is simple. It is an adjusted net income divided by an adjusted discount factor. However, while the calculation is simple, knowing how to come up with the numbers that represent net income, and the discount factor is where the complexity enters in. I am not going to get into how to come up with…

is your business saleable are you ready

Is Your Business Saleable?

By Billy Richardson | October 15, 2014

“I am not interested in selling my business.” These are words I hear with surprising regularity from business owners. I advise against this frame of thinking and encourage clients to “run it like they’re selling it”. Selling the business is always happening. You sell it every day to your customers – through product quality, variety…

Are You Spending More Time Working In Your Business than Working On Your Business?

By Billy Richardson | September 5, 2014

Who’s minding the store? If the answer is you, then you may need to do some soul searching on just what you want from your business. If you are the one “minding the store”, you are only managing what you have and you may not be creating the value your business warrants. Working in your…

When Building the Value of Your Business: Is Bigger Really Better?

By Billy Richardson | August 8, 2014

Bigger is not always better. For some businesses, bigger can be deadly. New business owners often aim to be the biggest. To them this means making the most money, succeeding in multiple markets, and growing faster than the competition. However, not all entrepreneurs are prepared for what a big business requires. With tunnel vision set…