Selling your business (Part 3)

By: Olivier Barbeau – regular contributor

In the third part of this six-part series on selling your business, we look at finding the right buyer

You’re mentally prepared and your advisor is on board. But what’s your target market?

Selling your business is like dating. To be successful, you need to be clear about what characterises Mr or Ms Right. Once you know, you can dress up your sales pitch to appeal to these buyers, advertise wherever they hang out and present your business in a way that attracts them.

Read more: Selling your business (Part 3)

Selling your business

By: Olivier Barbeau – regular contributor

Part 1: Getting ready to sell

Do you want to get top dollar when you cash in your business chips? Then think ahead.

Are you older than 45? Will you be selling your business over the next ten years? If so, you are not alone. The majority of small-medium enterprise (SME) owners are from this age group and they are all thinking like you.

Read more: Selling your business

Surviving in challenging times

By: Olivier Barbeau – regular contributor

On a daily basis, I deal with businesses experiencing four key challenges: liquidity; cost; risk, and growth. How does one deal with these?

Dealing with these challenges is crucial to success – and the real winners are likely to be the people who make tough decisions now, deal with difficult issues today, but are thinking ahead to the opportunities tomorrow.

Read more: Surviving in challenging times

Keeping score is key to the survival and success of your business

 

Bad record-keeping is really bad for business.

 

As a small business owner, it is important to stay focused on the basics of business success. One of the most fundamental components of achieving business success is keeping good financial records. The importance of keeping good financial records cannot be overstated.

Imagine watching a rugby or cricket match and only being told after the game what the score was. Sound absurd? Yet I regularly encounter businesses with poor or inadequate accounting records. It comes as no surprise that these businesses are generally not as profitable as they should be.

Read more: Keeping score is key to the survival and success of your business

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