Monthly Archives: June 2016

In some areas an NDA requirement preventing hiring any your employees have been found not legal because of is effect on freedom to find new employment for the employee. EG where there are limited opportunities for certain skill sets in the geographic area.

One of the biggest mistakes too many searchers/buyers make entering the buy/sell playing field is not getting their own NDA signed by brokers, owners and sellers of companies. (Not to mention some of the horrible NDAs foisted on searchers.)

• What about protecting the fact that you want to buy a business . . . and you don’t want your employer to know about it?

• How about the content of your financial statement and borrowing power?

This is why the advisory teams of savvy buyers and sellers include experts with a proven record of facilitating win-win deals that should occur.

• I, for example, won’t collaborate with buyers unless they hire the right kind of attorney and tax advisor at the right time and then properly engage those specialists. It’s good for all of us.

BTW, it’s 2 a.m. right now at home in Florida and I’m awake reading John Dini’s excellent website (awakeat2oclock.com) while awaiting a call from someone I’m helping in the UK.

• “Awake at 2 o’clock” . . . I wish I had thought of that title!!!!

John,

I agree with your premise, what the question should be is “Are you maximizing value?”

The very choices made by business owners include many of the above that lead not to short term profits but “hopefully” sustainable value.

I think that a good question is: Are you happy with your business?
Then ask: What in your business would make you happier?
Then, decide if you want to do it.

John,
Thanks, I have a small chocolate wholesale/retail business. I started 6 years ago and after growing from 3 part time employees and lots of self employment expenses, remakes etc. I have been just me myself and I. I work almost 24/7 and multi-tasking is the name of my game. Now, I am thinking of relocating out of state and downsizing because I love what I do, but to consult with my accounting person about planning for a closing of this business and starting the same business in a different state that I will eventually retire in. I feel I have learned what to do and what not to do, so I have about 1-2years to schedule the move.
Thanks, always enjoy your posts..

Great reminders. Falls under the category of continuity planning which is vital for most family businesses…at least mine.