Exit: Exit Options

Should you be targeting a specific segment of the buyer market? How can that be accomplished? What technical issues will you face with taxation, negotiation and contract structure? The specific and unique challenges of Family, Employee and Third-Party sales.

The (pen)Ultimate Hire

Every sane business owner will acknowledge that there is a point at which his or her own skills are no longer sufficient to grow the business beyond its current level. The revenue point where that happens differs by industry, but it frequently begins at …
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Another Lost Generation?

I had the opportunity to present “Beating the Boomer Bust” twice this week, one of which was recorded for a Texas Public Radio show this weekend. For those who aren’t familiar with the piece, it discusses the massive changes that …
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Three Circles of Family Business

What is a “Family Business?” A large percentage of small companies have some family involved. For most, it is simple a case of providing employment to family members. If the founder of the company is also the principle revenue generator, …
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Lifestyle or Legacy - Part 4

Last week a client told me “You are wrong. I have a lifestyle business that is ALSO a legacy business.” Sorry, but that doesn’t fly. He has built a good company, and continues to improve it. Be he is not driving …
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Lifestyle or Legacy - Part 3

Let’s turn to the Legacy Builders.They are the business owners who have achieved Lifestyle status (as defined in the last posting) but continue to work hard to build their businesses. Their objective is a company that does far more than …
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Lifestyle vs. Legacy - Part 2

Let’s define a lifestyle business. For our purposes, I’ll start with what it isn’t. It’s not the small retail store being run by someone who doesn’t need the money. A few years ago I was on a judging panel for a …
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Lifestyle vs. Legacy - Part 1

There are three types of business owners. The first, which encompasses the vast majority of small businesses, is the one who simply wants to make a living from running his or her business. They dream of the day that they …
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Small Business can Sell in a Recession

This was an article I had published in the San Antonio Express News yesterday. Guest Voices: Small businesses can sell in recession Many business owners think that the current recession has ruined their exit strategy. While the climate may be …
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