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Posts by Billy Richardson

Know when you want to transition out of your business

a bunch of white doors in a flat grassy field

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 what you want for and from the business

business man looking at wall of chart drawings

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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Know and understand what affects the value of the business

woman writing lots of words on glass

Cash is king. Value lies in a business’ ability to generate cash flow now and into the future. Having a business that does this requires that the business process is firing on all cylinders. The business is only as strong as its weakest link, thus requiring attention of each function of the process. Sales and…

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Ensure operational viability of the business

Every business must have a vision statement – a strategic foundation that defines success. Without this idea of what you want your business to grow to be, the chance of success is greatly minimized. Another part of this foundation is the culture of the business or its personality. Without it, you will not be able…

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Are your lights on?

When TBSI Consulting first launched, I could not understand why no one was calling to use our products or services. We had a website, social media, and all the right marketing collateral, but no one was calling. How could this be? After all, we had a great business and provided services that every business needs.…

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There’s No Time Like the Present

tree bridge

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

value of your business scale with money

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…

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Whom Do I Sell My Business?

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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Why We Do What We Do

On occasions, I have had interesting conversations with business owners about why their employees just go through the motions only to get a paycheck, and it brought to mind how easy it is for our staff as well as ourselves as business owners to forget why we do what we do. With the employees, it…

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