There’s a difference between being rich and being enriched. Being rich is to be abundantly ...
The number one challenge for baby boomer entrepreneurs is building a valuable, sellable company for ...
The value of your company is partially determined by your industry. For example, these days ...
Baby boomer entrepreneurs can have a lifetime of hard work result in disappointment and financial anxiety when they go to exchange the keys to their business for money. The following are four reasons why entrepreneurs fail to sell their business. Fear of the unknown. During buyout negotiations, selling owners come to realize that they have […]
Baby boomer entrepreneurs who say, “It’s my way or the highway.” can harm their business growth and value. Here’s why differences and disagreements make a business more valuable. Having differences among key employees is generally healthy and constructive. It brings diverse capabilities to discussions, decisions, and the work to be done. In building my business, […]
Here are five reasons why most baby boomer entrepreneurs won’t have a valuable business: 1. No planning and positioning for the oncoming demographic tsunami. During the next five to ten years, a huge wave of retiring boomer business owners will be overwhelming the merger and acquisition market place. This means that there’s going to be […]
Business valuation is a “subjective science” at best, and using the wrong method could deprive you from receiving millions of additional dollars for the rewards of your life’s work as a baby boomer entrepreneur. Strategic acquisitions usually produce the highest buyout price because the value is based upon what it’s worth in the acquirer’s hands. […]
Most baby boomer entrepreneurs will not successfully build sufficient equity value to ensure a lifetime of financial security beyond the business. The following are four psychological reasons why entrepreneurs fail to maximize business value. 1. Denial of mortality Nobody plans to fail, but most people fail to plan. Most especially, nobody wants to plan for dying before […]
A research analysis of over 14,000 businesses has identified eight key drivers, which add business value as well as increase potential sellability. Here are three reasons why you should score the eight key value drivers of your business now: 1. Make your business more valuable than that of your peer’s. 2. Discover your business’s particular hidden value […]
Are you a baby boomer entrepreneur trying to decide when and how best to move on from your business, and enjoy the financial freedom and personal happiness you’ve earned and deserve? Here are six reasons why you might want to cash in your business chips NOW. 1. You’ve lost your original entrepreneurial passion and enthusiastic […]
“Don’t hang on too long and don’t let go too soon.” Boomer entrepreneurs often struggle with relinquishing control, and delegating and empowering others. When building a strong and motivated business team, the benefits of delegating and empowering key employees usually outweigh the risks. However, there can be risks to letting go too prematurely, which when they […]
How Pure is Your Financial Advisor? The Question: Why are so many financial firms morally suspect? The Answer: Because their cultures are self-serving, arrogant, and greedy. A creed is “a guiding principle”. All too often the creed of the financial services industry is greed, which leads to grief for many people. While the words “fiduciary […]
Being the owner of a business encompasses certain rights, responsibilities, and risks, which extend beyond those of the non-owner “management ” of the business. This is particularly the case for a founding business owner who invested and risked personal capital for the firm to survive, operate, and grow. In exchange for risking capital, the entrepreneurial […]