Articles
Exit Planning
Articles for owners who are two to five years from a sale: what makes a business sellable, how to get yourself out of the middle of it, and what to fix before a buyer ever sees a number.
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The System Is the Star
Companies where the owner is the hub are 20% less likely to get an acquisition offer at all. Cameron Passmore built an…
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How Not to Be a Buridan’s Donkey When Selling a Company
A hungry donkey set between two identical piles of hay starves because it cannot see a difference. Owners do the same thing…
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How to Fix Customer Concentration Without Shrinking
Murray Kent bought a four-person business with one customer at 40% of revenue. A decade later a buyer paid 6.2 times EBITDA,…
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Customer Satisfaction Doubles Your Multiple. Owner Dependence Gives It Back.
Businesses where more than 75% of customers are very satisfied sell for 4.1 times earnings. Below 25%, the multiple drops to 2.2.…
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A Sellable Service Business in Four Moves
Gavin Bell was “the Facebook ads guy,” making good money and completely unsellable. Four moves turned a personal brand into a company…
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How to Protect Your Equity When Your Business Is Thirsty for Cash
Selling shares costs you equity. Bank debt costs you interest and a personal guarantee. Brad Lorge chose a third option and still…
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Four Reasons It Is Better to Own a Big Chunk of a Small Company
A small slice of a big pie worked out for Musk and Bezos. For most owners, selling part of the business comes…
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A Blood Pressure Test for Your Business
One number tells a doctor a lot about your health. One number can tell you a lot about what your company is…
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What a Study of 14,000 Businesses Reveals About How You Should Not Be Spending Your Time
Owners who know every customer by first name get offers of 2.93 times profit. Owners who rarely get involved with individual customers…
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Successful Entrepreneurs Can Be the Doer and the Dealmaker
Some owners run the plan. Some are always chasing the next deal. Jonathan Jay’s story shows what happens when you tilt too…