Improve Your Company's Exit Readiness

Came across a timeless blog post that should resonate with many small or medium business owners considering a sale:

• Where to start?…Prepare an exit strategy.
• What's next?…Organize key company information.  
• What kind?…Generally, the info falls into these categories:  Financial History, Intellectual Property, Regulatory Compliance.

>>Read more
Source:  Appfolio / Secure Docs

Should you Sell? Ask Yourself 10 Questions...

Selling a business is a “Big Deal”  for most small business owners and requires more than the "Luck of the Irish". As snap decisions are not encouraged, Curtis Kroeker, GM of several business-for-sale marketplaces, offers key questions to determine if selling is the right decision. 


1.   Is my business ready to sell?  Key:  2-3 yrs of tax returns, showing maximum profitability.
2.   How is a buyer going to value my business?
3.   Who should be on my team when I sell?  Engage the Experts, if needed, whether an Accountant, Lawyer, Business Broker...
4.   Is it the right time to sell?  Easier when business is on the upswing.
5.   Is the market right?
6.   Can I cope with the changes on the horizon?
7.   Can my business thrive without me?  
8.   Would I be willing to stay on if the buyer wants me to?  Transition flexibility could improve chances of a done deal.
9.   What are the potential deal breakers?  Resolve them before the deal nears closing!
10. Would I consider alternatives to an outright sale? 

>>Read more for greater insight.       

Source:  Entrepreneur.com

Happy St. Patrick's Day!

Selling Practice to a Hospital?...Read this First!

As with any business sale, it’s incumbent on the seller to think long and hard before signing on the dotted line.  In a recent article, "What Physicians Should Know Before Selling Their Practice to a Hospital," Lucia Francesca Bruno, J.D., LL.M., M.B.A. offers a rundown of critical considerations for physicians.

Source:  Physician News Digest