Tag archives for entrepreneurship - Page 3
Bank Financing
The most substantial source of financing for your acquisition will be bank financing. A quick survey of two dozen searchers finds they have raised between 35% to 75% of their transaction price through bank debt…
Seller Financing
Seller Financing is one of the most significant source of funds that a searcher uses to finance their purchase. It demonstrates the seller's confidence in the future of the business under new leadership, and gives…
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…
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…
Hiring and Retention
One of the common myths in business is that the "Customer Comes First". While this may be what you tell your customers, in reality, without an effective team of employees, you will never be able…
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"…