Blog
Practical insights for business owners — buying, selling, and everything in between.
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What Your CPA Won't Tell You About Selling
Your CPA is trained to minimize taxes. But when you sell, the goal shifts to maximizing net proceeds—and those goals can be in direct conflict.
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When Is the Right Time to Sell Your Business?
The right time to sell isn't about one factor. It's about three: personal readiness, business readiness, and market conditions. All three have to align.
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Customer Concentration: The Silent Business Killer
If your top customer is more than 20% of revenue, your valuation takes a 20-30% hit—if the buyer even agrees to buy. Here's how to diversify before you sell.
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How Your Commercial Lease Can Kill a Business Sale
Your lease is your second-biggest asset in a sale. A bad lease—or a landlord who won't cooperate—can derail an otherwise perfect deal.
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Document Your Business Systems: SOPs That Sell
A well-documented business can be worth up to 3x more than one where everything lives in the owner's head. Here's how to build the playbook buyers want to see.
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Building a Management Team That Survives a Sale
A buyer is acquiring a team, not just customers. If your key people leave after the sale, you've sold them a broken business.
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Reducing Owner Dependency: Why You Can't Be the Business
If your business can't run without you, it's worth 40-60% less. Here's how to build systems and a team that operate independently.
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Cleaning Up Your Financials: Making Your Numbers Tell a Clean Story
A buyer is writing a check based on your financial statements. If those numbers look messy, they'll either walk away or deeply discount your valuation.
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The 2-Year Runway: Your Month-by-Month Timeline to Sale
Selling a business well is a two-year project, not a two-month scramble. Here's the phase-by-phase playbook for getting ready.
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Is Your Business Actually Sellable?
Not every business is easy to sell. Here are the eight critical factors buyers evaluate—and how to fix the gaps before you go to market.
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Myth: The First Offer Is Always a Lowball
Not true. 65% of small business deals close at or near the initial offer. Time on market kills value faster than negotiation wins.
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Myth: You Need a Broker to Sell Confidentially
False. Online marketplaces have built-in confidentiality tools. A leaked sale can cost you 40% in value—here's how to prevent it.
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Myth: A Buyer Will Pay for the Potential
No, they won't. Potential is risk, and buyers pay only for proven performance.
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Myth: My Accountant Said It's Worth...
Your CPA minimizes taxes, not valuation. There's usually a 30-50% gap between what your accountant sees and what a buyer will pay for.
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Myth: I'll Sell When I'm Ready to Retire
That's exactly the wrong time. The moment you want out is when buyers will negotiate hardest.
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Myth: You Need a Broker to Sell Your Business
The industry default says you can't sell without an intermediary. The reality can save you $50K to $120K on your exit.
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Myth: I'll Just Sell to My Employees
The employee buyout sounds perfect in theory. Here's why it rarely works in practice.
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Myth: My Business Is Worth 10x Revenue
Revenue multiples are a dangerous shortcut. Here's why your business valuation depends on what you actually earn.
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Buyer's Rep vs. Seller's Rep (Who's On Your Side?)
Understand the role of buyer's reps and seller's reps, why representation matters, and when you might represent yourself.
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What Is a Holdback? (And How to Negotiate One)
Understand holdbacks in business sales—how they work, why buyers want them, and how to negotiate reasonable terms.
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What Is Working Capital? (And Why It's Often Disputed)
Understand working capital in business sales, how it's calculated, and why it's one of the most common deal disputes.
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What Are Reps & Warranties? (Legal Promises About Your Business)
Understand representations and warranties in purchase agreements—what you're promising, your liability, and how to limit exposure.
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What Is Escrow? (Protecting Both Sides at Closing)
Understand escrow, why it's held, how long it lasts, and how to negotiate escrow terms that work for you.
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What Are Valuation Multiples? (How Price Is Determined)
Understand how valuation multiples work—the formula that determines what your business is worth—and what drives them.
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What Is Recasting? (Adjusting Financials to Show True Profit)
Learn what recasting is, how it affects your valuation, and why you need to be careful not to be too aggressive.
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What Is a Transition Period? (How Long Do You Stay?)
Understand transition periods in business sales—what they involve, how long they typically last, and how to negotiate compensation.
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What Is Goodwill? (The Intangible Value of Your Business)
Understand goodwill, why it's the majority of what you're selling, and how to build it before you exit.
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What Is a CIM? (Confidential Information Memorandum)
Learn what a CIM is, why it matters in business sales, and how it helps you attract serious buyers and better valuations.
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How Are Small Business Sales Funded? (The Capital Stack)
Understand where the money comes from in a small business sale—SBA loans, seller financing, and buyer cash.
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What Is a Business Valuation? (And Which Type Do You Need?)
Understand the three types of business valuations, what each costs, and how to choose the right one for your situation.
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What Is EBITDA? (And When to Use It)
Learn what EBITDA is, how it differs from SDE, and when larger businesses use it as a valuation metric.
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What Is a Letter of Intent? (And Why It Matters)
Understand what a Letter of Intent is, which terms are binding, and how it sets the stage for the rest of your sale.
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What Is a Non-Compete? (And How to Negotiate One)
Understand non-compete agreements in business sales—what they cover, what's reasonable, and how to protect yourself.
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Asset Sale vs. Stock Sale (What's the Difference?)
Learn the difference between selling your business assets and selling your company stock, and understand the major tax implications of each.
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What Is Due Diligence? (And How to Prepare)
Understand what due diligence is, what buyers will investigate, and how to prepare your business so the process goes smoothly.
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What Is an Earnout? (And How to Negotiate One)
Understand how earnouts work in business sales, why buyers want them, and how to protect yourself when a portion of your payment is performance-based.
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How to Sell Your Business Yourself (The DIY Selling Guide)
Explore the six-step process for selling your business without a broker. Learn the real costs, what it takes, and when DIY selling makes sense.
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What Is SDE? (Seller's Discretionary Earnings Explained)
SDE is the metric that determines what your business is worth to a buyer. Learn how it's calculated and why it beats net income.
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