Are you finally pushing profit margins into the green? Great! But do not jump on the expansion wagon just yet… Take a breather, reassess and make sure that your business ticks the boxes (or at least most of them) that signal you are ready for growth.
Written By: Teresa Shefer- BusinessExit.com
Business owners who are considering exiting their businesses within the next 5 years should become acquainted with the Offering Memorandum. The OM, also known by other industry names, is a data rich marketing document designed to highlight your company’s positive attributes to a prospective buyer. Businesses are rarely sold without the exchange and review of the OM or a version of it.
Stephen Reisler, BusinessExit.com
What happens to your business tomorrow if something were to happen to you today? Life happens and we cannot stop it – accidents, sickness, disease, and death happens daily. None of us are protected against ‘life’ but you can take the necessary steps to protect the business by creating a documented CONTINUITY PLAN.
In looking back at the transition process – I am convinced that we would not have made the progress in transitioning to the next generation as smoothly or as effectively. It was not an easy journey but with your wise counsel, Terry, we were able to view the right things in the proper priorities and execute. Thanks for the help on the journey.
Eric, Business Owners - CT