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Why Do Companies Need an Annual Checkup?
Focusing on urgent customer, employee, or supplier demands often prevents business owners from planning for the future. You may want to enlist the help of an outside business coach or business advisor if you’re simply thinking about what you’re doing “in” your company and not what you’re doing “on.” What you’ll want to do is…
Insurance Implications When Selling Your Business
The majority of entrepreneurs and most people in general dread talking about insurance. They are unclear on if they have enough or how much coverage they need, and it always seems to cost more than what you were anticipating. However, there are some important things that you should keep in mind when it comes to…
7 Reasons to Avoid Signing a Letter of Intent
Edison Avenue, a M&A Advisor, has had enough of witnessing entrepreneurs giving away their net worth to private equity groups, family offices, and other sophisticated investors. The unspoken truth is that many former business owners don’t talk about out of embarrassment that they fell into one of these costly traps. 1. Invisible Ink: Frequently a letter of…
CEO’s Who Don’t Sell Company Increase Biz Value by 53%.
In an analysis of more than 12,000 businesses, a new study finds the most valuable companies take a contrarian approach to the CEO doing the selling. Who does the selling in your business? I’d guess that when you’re personally doing the selling, your business is more profitable than the times when you leave the selling…
Thoughts on Failure
Failure is an essential element of being a successful entrepreneur. An excellent book I’ve been recommending for years on the topic is Failing Forward by John C. Maxwell. A few years ago a wonderful renaissance man from Boston Ben Zander’s told me “You can’t play great music until your heart has been broken. The same applies to your career, business and…
Top 10 List Making Your Business More Valuable
We all need to plan for the future whether you want to sell your business next year or in 10 years. The reality is the value of your company will be partly determined by your industry. For example, cloud-based software companies are generally worth a lot more than printing companies these days. However, when we…
How to Make Your Company More Attractive to an Investment Bank
There are many factors that influence how attractive your company is to an investment bank or a Private Equity Group or (PEG) for short. Below is a list of 8 of them for your consideration as you plan your business strategy. Create an Exit Plan Strengthen your Contracts – Employees/Customers/Vendors Secure your Intellectual Property Complete…
Value Based Pricing
Just recently I read an article by Duct Tape Marketing about value based pricing. Their summation below is an excellent overview of the key elements to successfully bill for the value you create for your clients/customers. We all know there is only so many hours in a day so hourly billing has it’s limits. The…
Three Key Considerations When Selling Your Business
If there is one thing I’ve learned about the marketplace for small to mid-size business it is that it is both very opaque and inefficient. Because you take great pride in your business and feel you have a great operation, you might be tempted to believe anybody in their right mind would seize the opportunity…
How to Buy an Insurance Agency Successfully
If you are looking to buy an insurance agency in Florida or anywhere else in the United States there are some very important factors that you will need to take into account. Awareness of these factors can increase the probability that you will end up with a great buy and be completely satisfied with your…
"Edward was there for us every step of the way coaching us through and helping us understand the process. He continually encouraged us to keep our efforts focused on running the business while he took care of the sales process. He negotiated the sale of the business and 4,000 sq. ft. office building as a package deal!"
– Debra Stuckey, Information Technology Co.