Category Archives: Exit Planning

How Can You Sell a Business to a Buyer Who’s Broke?

According to a recent report from the Federal  Reserve Bank, over half (52%) of Americans could not pay for a $400 car repair without borrowing. We can assume that most of these folks would not be legitimate prospects to purchase … Continue reading →

Posted in Exit Planning, Thoughts and Opinions | Tagged , , , , , , , , , | 3 Comments

The Luxury of No Resources

Among the Baby Boomer business owners who are beginning to plan their retirement, there are millions who founded the companies they plan to sell. Many of these were technicians when they started. They began as employees, and then used their … Continue reading →

Posted in Exit Planning, Thoughts and Opinions | Tagged , , , , , , , , , , , | Leave a comment

Key Man Policies May Not Cover a Buy/Sell Agreement

Over the last few weeks, I’ve had a number of conversations with clients about key man insurance. Let me say at the outset that I don’t sell insurance, and have no financial stake in whether any client has coverage or … Continue reading →

Posted in Entrepreneurship, Exit Options, Exit Planning | Tagged , , , , , , , , , | 7 Comments

Where Will All the Small Businesses Go?

What would the small business landscape look like if over one million small businesses disappeared? Get ready, it’s about to happen. I write and speak frequently about the passing of the entrepreneurial generation. Driven by competitive pressures to succeed, the … Continue reading →

Posted in Entrepreneurship, Exit Planning, Exit Strategies, Thoughts and Opinions, Top Blog Posts | Tagged , , , , | 1 Comment

Who’s Picking Up the Tab?

When a small business is sold, the total price of the business includes not only the cash paid, but any obligations assumed by the buyer on behalf of the seller. Transfer of a loan balance, accrued vacation pay for employees or … Continue reading →

Posted in Exit Planning | Tagged , , , , , , , , , | Leave a comment