How to Double the Value of Your Business in Two Years

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How to Double the Value of Your Business in Two Years

As we approach the beginning of a new year I reflect upon our firm’s achievements and challenges over the past year. Celebrating accomplishments and monitoring progress towards goals are vital to your continued focus, commitment and motivation. How did your business do this year compared to your original goals? Are you on track to exit your business at a time of your choosing? Has your business increased in value over the past year? Would you like to double the value of your business within a two year period? It may be challenging, but it can be done. Smaller start-up companies […]

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The Key to Timing the Sale of Your Business

When is the right time to sell your business? This can be a difficult question to answer. In Deciding to Sell Your Business by Ned Minor, Mr. Minor suggests that you should sell your business “at the point when you achieve your definition of financial independence.” I encourage business owners to consider timing from the perspective of: i) the business owner; ii) the business; and iii) the market. In a perfect world, each of these will be in alignment when timing the sale of your business. Let’s consider each in turn. 1. The business owner – when will you be […]

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The Perfect Storm for Enhancing Value

Growth is a major value driver for many businesses. A well documented growth story with a positive outlook for continued future growth (i.e. a sound growth plan) is very appealing to a potential purchaser. Having a competitive advantage in your industry is another key value driver because providing something unique or proprietary is extremely attractive to a potential buyer. Together these two value drivers create the perfect storm for enhancing value. Researchers at the Sellability Score have recently studied the results from over 5,000 business owners who completed the Sellability Score questionnaire. For those companies that had received an offer […]

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A Must Read for Business Owners – Deciding to Sell Your Business

I recently finished an interesting book that all business owners should add to their reading list. “Deciding to Sell Your Business – The Key to Wealth and Freedom” by Ned Minor [1] explores the notion that all business owners must first decide to sell their business before embarking on the actual sale process. Mr. Minor is co-founder of a Denver-based law firm which focuses on designing and implementing exit strategies for privately held business owners. Minor has coached hundreds of business owners in this area for over 30 years. In Deciding to Sell Your Business, some of the fundamental questions […]

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The VSP Exit Starter Program – Your Wealth Transfer Survival Guide

Are you planning to exit your business in the coming decade? Have you started preparing for a successful internal transfer (e.g. family, management, employees, shareholders) or an open market sale to a third party? Do you want to maximize your net sale proceeds and achieve your goals when you exit? Do you want to be prepared in the event of a forced exit due to disability, divorce, dispute or death? If these questions don’t concern you then read no further – this program is not for you. If, however, these questions have crossed your mind and do concern you then […]

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Smart Business Owners Share a Common Goal

Are you on track to meet your business goals for 2013? What are your goals for 2014? How often do you actually write down your goals for the coming year? I find that business owners generally do have predetermined revenue and/or profit targets. While those are important, there is another goal that can have an even bigger payoff: building a sellable business. You may say that you are not ready to sell. That’s not relevant. Here are five reasons why building a sellable business should be your most important goal, regardless of when you plan to exit your business: 1. […]

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Do Not Forget Insurance When Planning Your Exit

All business owners will one day exit their business – voluntarily or involuntarily.  Insurance is a vital tool for ensuring you are prepared for an involuntary exit due to death or disability. Two of our recent files at VSP involve a shareholder death.  Our valuation expertise was required in connection with a buyout of the surviving spouse’s equity interest.  Thankfully life insurance was in place to provide income replacement for the surviving family members and for purposes of funding the buyout. Life insurance, disability insurance, critical illness and long-term care should be considered to ensure you are prepared for an […]

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Take a Picture of Your Business to Enhance its Value!

A few weeks ago a friend of mine was telling me about a new exercise routine he had been following to help him lose weight and improve his overall health. It was visually apparent to me that he had achieved success with this new program. When he showed me his progression through weekly photos of himself, however, I immediately bought into his exercise routine as well as his commitment and motivation to its success. More recently, my brother sent me a current photo of himself and one from one month earlier. He is currently training for a competition and I […]

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Why You Should Discuss Exit Planning With Your Accountant

According to a Canadian Federation of Independent Business (CFIB) study, nearly two thirds of companies consider their accountant (and lawyer) the most valuable source of information. [1] In 2009, the CEO of the Canadian Association of Family Enterprise (CAFE), Lawrence Barns, was quoted as saying “When family businesses are asked who their most trusted adviser is, 73% say it is their accountant.” [1] Does this include you? Is your accountant your most trusted advisor? Is he/she aware of when and how you plan to exit your business? When you meet with your accountant to review the annual financial statements and […]

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5 Ways to Increase Your Odds of Receiving an Unsolicited Offer

In any negotiation, being the person who makes the first move usually puts you at a slight disadvantage. The first-mover tips their hand and reveals just how much he/she wants the asset being negotiated. Likewise, when considering the sale of your business, it is always nice to be courted, rather than being the one doing the courting. The good news is, the chances of getting an unsolicited offer from someone wanting to buy your business are actually increasing. According to the Q2, 2014 Sellability Tracker analysis released in July 2014, 16% of business owners have received an offer in the […]

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