Training your employees is ultimately good for your business. Not only can it improve performance and staff morale, investing in the development of employee's increases profit. The best part is, you get to choose what skills you want you workforce to gain by identifying the needs of your busin...
Keeping on top of your finances and sticking to a set budget is one of the most important things new businesses will have to do. For most start-ups, money is tight, so accounting for every penny is an absolute necessity. No matter what industry you're in, a strict and well thought out budget w...
Training your employees is ultimately good for your business. Not only can it improve performance and staff morale, investing in the development of employee's increases profit. The best part is, you get to choose what skills you want you workforce to gain by identifying the needs of your busin...
Selling a small business is a complicated process that requires the help of a broker, accountant and an attorney. Contrary to popular belief, the sale of a business isn't necessarily a profitable one. If the business is taking a downturn or you sell at the wrong time, you may walk away empty-handed.
These six considerations will help you navigate the selling and negotiations processes.
Why are you selling your business? This is one of the first questions buyers will ask, and your answer will almost certainly affect the buyer's interest.
Maybe you want to enjoy an early retirement, or you feel you're overworked. Maybe you're bored with the business or a dispute with your partner has made it impossible to work together. In some cases, business owners sell because of an illness or a death in the family.
Of course, some businesses are put up for sale because they are no longer profitable. In this case, finding a serious buyer can be a challenge. Taking steps to increase profits before you sell may improve your chances of finding a buyer.
Mistakes are easily made. Streamlining your entre business' processes is near to impossible but you can prevent errors and delays. Achieving this is easy. By simplifying or obliterating unnecessary steps by reviewing the process, your business will see an automatic improvement to the flow of w...