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49 articles by Andrew Rogerson · showing 49

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By Andrew RogersonRecently published1 topic

5 Guaranteed Ways Not to Sell Your Business

Selling a business is not easy. Here’s a look at 5 guaranteed ways you will NOT be successful. 1. It is unclear exactly what is being sold. Make sure it is clear exactly what is being sold. For example, have a list of all the Fixtures, Furniture and Equipment. If any items are not being sold, make sure this is stated clearly and at the first meeting and why, or preferably remove the items completely from the business. If vehicles are included, make sure they are roadworthy and have smog clearances. 2.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Why Dr Jekyll would not be a good business buyer

We’re all familiar with the story about Dr. Jekyll and Mr. Hyde; the person with two completely different personalities. Just as there are different types of buyers with different motivations, there are also buyers with different types of personalities. If you’re planning on buying a business or if you own a business that you want to sell, here are some Dr. Jekyll “traits” that would discourage a seller revealing too much information about their business. 1. Job Seeker Try to establish this one early on as they are a complete time waster.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

10 Ideas to Make Your Next Business Plan Soar

A business plan is a critical document for any business. PERIOD SCORE – the Senior Corps Of Retired Executives lists the lack of a business plan as one of the top three reasons a business fails. Any creditable book on owning or running a business ownership states its importance. If you put a ...

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

5 More Guaranteed Ways NOT to Sell Your Business

This is the second of three articles that discusses what NOT to say or do if you own a business and are trying to sell. The first article was called “5 guaranteed ways NOT to sell your business.” The third article is called “5 things to avoid when trying to sell your business.” All articles can be read on my blog or simply searching the web. 1. Talking when you shouldn't. This may sound obvious but when you sell a business it’s more important to listen and ask questions than continually talk to try and “sell” the business.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

8 tips to consider when selling your business

Are you trying to sell your business, and quickly? Check out these tips as they may help you achieve your goal. 1. Have a reasonable listing price. 2. Be prepared to negotiate. 3. Have a folder of information readily available for a qualified buyer. 4. Run the business as usual. 5. Make sure the business presents well; give it a "spit and polish." 6. Get a current snapshot of the business financials and keep them up-to-date. 7. Put together a current list of Fixtures, Furniture, and Equipment (FF&E). 8. Consider counting all inventories so the value is known.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

5 more seller finance options to consider when selling your business

The need to use seller finance when trying to sell your privately held company has come back into vogue due to the lack of third party finance being readily available. Some techniques less known and used, however, are available but require a clear understanding between the seller and buyer and may then need good legal agreements to clarify, protect and define the responsibilities of each of the parties. Here are five options both a seller and buyer may want to consider.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Buying or selling your business in the New Year, how is your Communication Plan?

The life blood of what we do as human beings and the glue that keeps us all together as a society be at a local, regional, national or indeed inte ational level is the ability to communicate with one another. Many times that communication breaks down and many times this leads to unintended consequences. All entrepreneurs are familiar with a Business Plan and a Sales and Marketing Plan but not everyone has heard of a Communication Plan. So what is a Communication Plan? A Communication Plan is an attempt to standard the message that goes out from the business to its customers.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Understanding Add Backs when buying or selling a business

Small businesses are a critical part of the economic landscape. All the businesses on the Dow 30 started as small businesses, reached a critical mass that then led them to becoming a public company and grow to where they are today. Depending on whose statistics you use, small businesses make up 98% of all businesses in the US economy.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Importance Of Terms When Buying Or Selling A Business

In the initial stages of listing a business for sale, all the attention is placed on getting the business in shape so it presents as strongly as possible, sometimes doing a business valuation to arrive at the most appropriate listing price for the business and discussing the tax implications to the seller of the business. Tom West is the owner of Business Brokerage Press and he has a great saying that most sellers and buyers don’t understand until they get into the negotiations of the transaction and it is – You name the price and I’ll name the terms.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Buying or selling your business in the New Year, how is your Financial Plan?

One of the hardest aspects of being an entrepreneur is staying on top of some things you may not like to do because you either don't enjoy them or simply aren't good at them…or both. Doing math back in school just wasn't fun for me. I enjoyed almost every other subject except anything to do with numbers as there seemed too many rules and exceptions to remember.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

What do I want to know when buying a business?

When working through the process of buying a business, the transaction will go through different stages. The first active stage is obviously when the buyer and seller come together for their first meeting. However, before that happens there are many other things that need to happen before that first meeting which, if it goes well, will lead to a series of follow up meetings.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

5 alte atives to Seller Finance when selling your business

The need to use seller finance when trying to sell your privately held company has come back into vogue due to the lack of third party finance being readily available. Some techniques less known and used, however, are available but require a clear understanding between the seller and buyer and may then need good legal agreements to clarify, protect and define the responsibilities of each of the parties. Here are five options both a seller and buyer may want to consider.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

4 personality traits to watch when selling your business

Just as there are different sellers with different motivations, there are also buyers with different types of needs and personalities. If you’re the seller of a business or looking to buy, understanding these different personality types may help you be more successful. 1. Unemployed This is the best type of buyer. But there are some catches. They need to have enough money as a down payment to buy the business. Zero down payment to buy a home hasn’t been successful.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Buying or selling your business in the New Year, how is your Business Plan?

Being an entrepreneur requires the need to constantly make decisions. Being a successful entrepreneur requires constantly getting most of those decisions right. No entrepreneur gets every decision right. Just ask Tiger Woods. Besides, if that was to happen it would be boring. However, being an entrepreneur does require bringing your A game to business as much as possible. One of the best tools that enable entrepreneurs to be successful is creating and working a business plan. In simple terms there are two types of business plan.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Tips to Successfully Buy or Sell Your Next Business

Selling and buying a business is rarely a simple and straightforward process. When I sit down and try to categorize each of those experiences, be it from my own personal experience as a Business Broker in Sacramento or the experiences I’ve heard from the 14 Business Brokers that are part of my office, the different experiences tend to fit into one of the categories below. The seller expects to: 1. Receive all cash up front; 2. Provide one week of training; 3. Provide the buyer with one day to do their due diligence; 4.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Starting a Business? Start with Your Business Plan

If starting your business is in your immediate future you and are not sure where to start, there are four major areas I would suggest you consider. This article is just about one of those, which is the need to create a solid business plan, but the four areas to help determine your fitness for business ownership are as follows. First, are you a self-starter? Second, how well do you connect with other people? Third, how good are you at making decisions? Fourth, are you physically and emotionally ready to start and build your business?

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Buying or selling your business in the New Year, then start with your Life Plan

Buying or selling a business is a major step for all entrepreneurs. It comes with obvious financial risk which everyone understands and prevents many would-be-entrepreneurs from starting their jou ey. However, an element not many understand is that the business ownership comes with many emotional risks that play a more important role than the money itself. Entrepreneurs are constantly challenged by many emotional risks. The obvious one is success or failure.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Starting a Business: Look Before You Leap!

The economy’s tough, unemployment is at a record high and growing and you’ve decided your best option is to start your own business, be your own boss and put yourself in control. Instead of working for someone who’s living their dream, work for yourself and live your American Dream. That was an easy decision; obviously not…but where do you start? My first suggestion is to take a deep breath.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Is Business Ownership Right for You?

The reality of the current downtu in the economy is that many companies will need to restructure to create the private sector jobs President Obama is talking about. At the time of writing this article there is 7.2% unemployment or the good news, 92.8% full employment. That’s good news if ...

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Eight Reasons a Business Does Not Sell

Selling a business is a complex and often contradictory process. For example, sellers normally don’t want customers, employees, landlords, suppliers, sometimes immediate family and others to know the business is for sale in case it damages the business. Yet they need everyone else to know it’s for sale so they can get the highest price possible. Here are 8 reasons why a business does not sell: 1. The seller starts off thinking he is serious about selling but gets into the process and sees how difficult it can be and then changes his mind. 2.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

What questions should I ask when buying a business?

Most business buyers don’t have a shortage of questions they want to ask when they are looking to buy a privately held company or business. There are obvious questions about the level of sales, qualifications and motivation of the employees, the relationship with the landlord, if payment to suppliers is up to date and many other good and appropriate questions. Apart from these questions, there are others that may help a buyer decide if the business is a good fit for them. These questions include the following:

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Understanding Purchase Price Allocation when buying and selling a business

One of the hidden and sometimes very surprising scenarios which buyers and sellers of a business experience, comes when there is a need for both parties to agree on the Purchase Price Allocation. The surprise comes into play as most buyers and sellers have not heard of the Purchase Price Allocation and when it needs to be agreed upon, both buyer and seller can find it emotionally challenging, especially if the negotiations have been long and difficult.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

How a business transition plan enhances selling your business

A transition plan that allows the business owner to sell the business for the highest price possible in the shortest amount of time to the most qualified buyer is generally the top of the wish list for most business owners. Because the business owner lives and breathes their business they become emotionally attached to their customers, employees, suppliers and other business partners as the business is a reflection of who they are.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Successfully Sell Your Business to the Right Buyer

If you plan on selling your business, it will help you to understand the different types of buyer. Each buyer who inquires will have their own unique reason to want to buy. By talking with the buyer, understanding their needs and then placing them in one of the categories below, will help you understand what they are looking for so you are better prepared to discuss and negotiate the transaction.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

5 Tips for a Successful SBA Loan

There are five critical areas an SBA lender considers in detail when deciding whether to underwrite an SBA loan. These five areas are Cash-flow, collateral, credit, management experience and liquidity. If you plan to apply for an SBA loan make sure you consider each of these areas. You don’t need to be perfect in all these areas but if you are weak in one area you will need to be so much stronger in another. Let’s have a look at each of these in a little more detail. 1. Cash-Flow This is one of the most important areas.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Buying or selling the Perfect Business

If you are looking to buy or sell your business, perhaps your starting point is perfection. But what is perfect? As they say, beauty is in the eye of the beholder. However, if you are considering buying or selling a business, the following items would probably feature in the “Perfect Business.” The perfect business is one with the following attributes: 1. A reasonable price. 2. A reasonable down payment (hopefully about 20% of the full price). 3. Some seller financing. 4. Reasonable sales (hopefully increasing each year). 5.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

7 tips for a successful business loan

Money tends to rate high up on the list of needs for people planning on starting or moving into business ownership. Here’s 7 tips if you need start up financing for your business. 1. Clearly identify how much you have available. The best place to start is yourself. If you have some capital available to invest in a business this is a great start as other parties you approach will take you more seriously. They will take you more seriously as they want to see that you have “skin in the game.” Once your position is clear, family and friends are the next to approach.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

9 strategies to successfully sell your business

Selling a business comes with a huge number of variables. The following consider 9 important areas you need to work through if you want to successfully exit the business you own. 1. Do I need to create and use a team? Putting together an exit strategy and then executing it is a team sport. Don’t try and do it on your own. Members of your team to consider include: Accountant or tax agentr Personal financial plannerr Psychologist or Business Coach Insurance expertr Atto eyrnBusiness Broker Worried about the cost?

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Caveat Emptor – Let the “seller” beware

If you own a business and receive an unsolicited offer to buy your business please be careful. If your business is currently for sale be even more cautious. There are con artists that have developed a clever process of taking your business from you and leaving you not only with absolutely nothing, but totally destroying your business and leaving you in debt.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

5 Tips When Selling A Business

A business that is available for sale is often handled like selling a residential property or house - except they are totally different. In some states in the United States, for a professional third party or a broker to represent the seller of the house they are required to have a real estate license. That real estate license allows that person to sell a house, a commercial property, and in some cases, provide mortgage loans and assist in the transaction of selling a business.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Avoid these 5 mistakes when trying to sell your business

There are many things you need to do when planning to sell your business. There are also things to avoid and here are 5 things to avoid so you successfully sell your business. 1. Talking when you shouldn't. This may sound obvious but when you sell a business it’s more important to listen and ask questions than continually talk to try and “sell” the business. Often there is more information in hearing the type of questions being or not being asked and the follow up comments.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Why You Need An Appraisal To Get An SBA Loan

Getting finance to buy and sell a business from an independent third party such as an SBA lender since August 2008 has been very difficult. As part of the Federal stimulus plan in 2009, money was allocated to the SBA to try and kick start lending and this included the elimination of a number of buyer fees to obtain an SBA loan. However, one of the recent changes to the SBA loan program has seen the introduction of the need for a business valuation if the loan is going to be approved.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Buying or selling your business in the New Year, how is your Productivity Plan?

So you’ve made your New Year’s resolutions which included building a business plan. This includes setting your personal and business goals. You also did a budget to make sure you can afford to do what you’ve planned. You are therefore all rested and dressed up and ready to go. Bring it on you say. My question is therefore, you know WHAT you want to do but HOW are you going to do it? Chances are you have a list of projects and tasks you want and need to do.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Thinking of buying or selling your business in the New Year, how is your Transition Plan?

The process to sell a business is not a quick and easy matter. At the moment it is taking about 8 months to sell a business, if it sells. This means the business sits on the market for about 6 months before finally getting an offer from a buyer. Once the negotiations finish, due diligence commences and closes and escrow opens and closes we arrive at the 8 month period. And this applies if the business sells. Depending on which statistics you read, approximately 75% of businesses never sell.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Helping business owners understand their financial statements

There is no doubt that the current recession is as long and as hard as we’ve seen for many years. And hopefully we will not get to see again for quite some time. If you are a business owner whose business is not making a profit and you don’t have the capital to invest and keep the business going, you may be wondering about your options.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

If I am thinking of selling my business, where do I start?

If you are thinking of selling your business, one of your first questions to answer is more than likely; where do I start? One of your first starting points is to be clear exactly what is being sold. This may seem obvious but many Sellers think they will deal with it when they get an offer. So let’s break this down and look a little more closely at it.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Thinking of buying or selling your business in the New Year, how is your Exit Plan?

A business should be a constant ball of energy moving in different directions as the economy changes, new tools and innovations come to the market, the stress and strain from competitors and the ever changing demands of customers. This is what gets an entrepreneur out of bed every morning; the chance to do something different, learn something new, to see the rewards of hard work, to plant new ideas and watch them grow or to help someone do something they thought they may not be able to do.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Does your New Year’s resolution include buying or selling your business?

Everyone is familiar with the Christmas song, the 12 days of Christmas. Without going into every verse of the song, the carol works forwards with the first day of Christmas being a partridge in a pear tree, the second day of Christmas two turtle doves and so on. The song is full of optimism and hope that the giver and receivers of the gifts will be thankful for life, the opportunity to share and hope for the future. From researching the origins of the song, I came across something interesting.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

5 traits of a successful entrepreneur

If you brought ten entrepreneurs together to ask them to make a list of the five most important traits of a successful entrepreneur they would probably finish up with eleven lists. Entrepreneurs don’t like predictability and arriving at simplistic answers. However, if you read each of those eleven lists, I think you would find the following traits on a lot of those lists. 1. Vision One of the first attributes of all successful entrepreneurs is having a clear vision.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

5 tips to use when selling your business

To successfully sell a business requires a lot of preparation, attention to detail and organization. Most sellers badly underestimate both what needs to be done and what to do if a buyer comes along. A good rule of thumb is that it takes 10 buyer inquiries to reach a potential and qualified buyer. There is not a shortage of buyers; there is a shortage of qualified and motivated buyers so if you find one; you need to have you’re “A" game ready.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Starting a Business...Let's Start with You

A lot of new business owners like to move quickly. They work through their decision to move into business ownership, do a little research, decide how much money they have, how much they can borrow and then start doing “it”…whatever “it” means for them and their business. There’s no ...

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

11 reasons to reject the recession and grow your business

Many economists are predicting that with GM filing for bankruptcy on June 01, 2009 that the economy has hit bottom and will start to improve. With this being the longest recession since the Great Depression and many “green shoots” in the economy starting to appear, it’s now time to prepare for future growth and not sit back and wait for it to happen.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

How to sell a business

How to sell a business? That simple question explodes with so many variables. Do you want to sell to family, an employee or a friend? Do you want to sell today or in a month or sometime ‘soon’ with no firm date on when ‘soon’ will start or finish. What about the question that relates to ‘how to sell a business’ and that is ‘how much do you expect or want for your business?’ Do you want all cash up front or are you willing to carry some of the finance? So that simple question, ‘how to sell a business’ all of a sudden comes with a few more complications.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

Ethical Expectations You Should Expect From Your Business Broker

If you own a house and decide it’s time to sell, you have a choice. You can choose to handle the process on your own in which case you would be a For Sale By Owner (or FSBO) or you can choose to have a real estate agent represent you. If you own a business or are a potential buyer of a business you can choose to handle the transaction on your own or you can choose to have an agent or Business Broker represent you.

Primary topic: Business Consulting
Business Consulting
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By Andrew RogersonRecently published1 topic

6 questions to ask when selling or buying your business

There are two critical things a buyer of a business is looking for and these are cash flow and potential. They may be willing to compromise on almost any other thing but if the cash flow’s not there to provide an income to sustain their family and livelihood, service the debt of the business and include a buffer in case they need time to re-establish upward momentum in the business and the industry the business is in is declining, then it will be a challenge to close the sale.

Primary topic: Business Consulting
Business Consulting
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What are my options if I cannot sell my business?

This current recession in 2008 and 2009 is marked by how low the economy has gone, the increase in unemployment, but most frustrating of all, how long it has taken before the “green shoots” appear. If your business is struggling and you think your only option is to close the door and hand the keys back to the landlord, here are some things to consider.

Primary topic: Business Consulting
Business Consulting
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Benefits of a transition plan when selling your business

For most owners of a privately held company, when the time is right they want to sell their business for the highest price possible in the quickest time possible and live happily ever after. There is nothing too complicated in that and at a basic level, that’s perfectly fine. However, a question to ask is whether the business owner wants to sell the business or is their preference to transition the business?

Primary topic: Business Consulting
Business Consulting
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