Business people sometimes have a tendency to overcomplicate things — whether you’re onboarding new customers, checking vendor shipments, doing quality checks, or whatever else you spend your day-to-day time on, your day is really just a series of processes and procedures. When you’re done with the day’s procedures, your business is a little bit better off and you can be home at a reasonable hour.
Valuation is one of the most important aspects of any business — we’ve talked before about how you should be conducting a business valuation at least once a year, not just when you’re buying or selling.
Selling your small business is a serious undertaking. You want to get the best deal you can out of your business, but finding a buyer for your business can be difficult, especially if you’re in a niche industry.
There are several ways of integrating mergers and acquisitions into your business strategy, but one of those strategies is the rollup — when you plan to buy multiple businesses within one industry to integrate into one larger company.
Owning your own supply chain, also known as vertical integration, is a step that a lot of companies consider — but it’s not right for everyone. There are many pros and cons to consider when it comes to cost, benefits, and management of you’re newly integrated assets.
Topics: Business Tips
Selling a business can be an exciting prospect — it can fund your next project, your personal passion, or your early retirement. But it’s also financially complicated, and it’s not a venture you should get into without some serious consideration first.
To hear the experts tell it, an economic downturn is right around the corner. We can’t predict the future, but we can tell you that downturn or not, it’s never a bad idea to be prepared for uncertain economic times. Markets rise and fall based on a thousand different factors beyond your control, and you never know when you’ll need to weather a decline in your business. Here are some things to think about.
Topics: Business Tips
When you start your business, it’s easy to focus on just one goal: survive. Make enough money to pay the bills and keep the lights on for another week, or another month, or another quarter. That’s a good goal, obviously. But it’s also incomplete.
Any business is a constantly evolving web of incomes and expenses — it can be hard to keep track. But which ones are the most important? Identifying your key value drivers — the factors that make the biggest difference in the performance of your specific business — is critical to boosting your profitability.
You made it through another year! That’s no small feat, especially if you’re running a new or small business — up to 50% of small businesses fail in their first five years of business. For you to be on the right side of that coin flip, you must be doing something right.