Tag archives for entrepreneurship - Page 3
Quality of Earnings
During the final stage of your search, while under LOI, you will need to verify what the seller has provided as to their financial health. This level of accounting diligence is best done by an…
Getting to Closing
Getting to the closing date is a lot more challenging than most searchers think. Many things can happen that cause deals to fall apart. Just knowing what to expect during the closing time-frame is helpful…
Why deals fall apart
Much of the company search process is about failure; deals will fall apart, and the more you understand why, the better prepared you will be to recognize the warning signs, anticipate them, and even avoid…
Reaching out for help
The quest to become an entrepreneur by purchasing a business is about learning and continuous improvement. No search is the same, nor is any searcher, therefore you have to seek out solutions to the challenges…
When to stop searching
No searcher wants to be a quitter, especially after "sacrificing" so much to head down the path to become a CEO. However, it is important to assess your progress, the impact you are having on…
Seller After Closing
Successfully transitioning the seller from being the "Most Important Person" (MIP) to a "Previously Important Person" (PIP) can have far reaching consequences on the success of the business you acquire. Anticipating this transition during the…
Early Years as Searcher/CEO
How do searcher/CEO's feel 2 years after closing their acquisition? You may be surprised to learn from over 2 dozen searchers surveyed that 2/3 of them reported feeling significantly worried about their business years from acquisition.…
Board of Directors
Recruiting and working with a Board of Directors once your search process is complete can be one of the more significant learning opportunities as a new business owner. CEO's find that a well-constructed and managed…
Managing a Blue-Collar Workforce
Hiring and retaining a “blue-collar” workforce rapidly rises in importance once the challenges of taking over the business after closing are dealt with. Searcher/CEOs report that managing a direct, nonexempt, hourly labor group is much…
IT Systems
When you take the CEO position of the business you purchase, you are likely to find inadequate and antiquated IT systems supporting the business. After all, you have purchased a "good" business and a "great"…