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Posts by Billy Richardson

Value Perceived May Not Be Value Received Or Vice Versa

money in a spilled trashcan

It was once said, “one person’s trash is another person’s treasure.”  This saying holds true to the value of one’s business.  I am not saying your business is trash, but often we have a misperception of what our business may be worth.  You may think your business is worth a lot but have no buyers. …

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Five Reasons You Need to Determine the Value of Your Business

fine tune value meter

I encourage business owners always to consider how they will get out of business when they start or acquire a business.  Most tend to ignore this advice because they are so caught up in the “beginning” that they don’t (or can’t) envision the “ending.”  What they fail to consider is that they inevitably WILL experience…

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Congrats on the sale of your business

man holding letter blox spelling sold

Congratulations on the sale of your business!  What??  You did NOT sell your business??? Well, if not now, it is likely that SOMEDAY you WILL want to sell your business.  When that time comes, you will want the experience to be one of satisfaction, not frustration or desperation.  To achieve a satisfactory outcome when you…

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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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