Too often, the shareholders of businesses wait until they are ready to sell their business to start planning for an exit. However, a lack of planning today may cause you to lose value when you ultimately are ready to go sip margaritas on the beach. Here are six best practices to follow before you want [...]
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Got an idea that you just can’t shake? That idea could manifest itself as a business or a book. I have spent a lot of time talking about how entrepreneurs should approach a new business and have found that there are a lot more parallels between starting a business and launching a new book than [...]
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Many of us fall into business because of passion, circumstance or perhaps an exciting idea, forgetting about the end game. However, goal setting- making tangible, definable goals- is critical to get you to where you want to go. To illustrate this, I wanted to tell you a bit about my mother, Sheri, and her adventures [...]
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I am a little bit tired (and by a little bit, I actually mean really tired) of hearing about how you should create a business from your greatest passion in life. Well, you can really screw up your passion for something by having to earn a living from it. So, here’s the other side of [...]
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Financial buyers (aka private equity firms and guys that look like them) have billions of dollars to purchase companies, making a sale to a financial buyer one of the top ways for mid-size business owners to get liquidity in their business (liquidity is a fancy way of saying cashing out / getting the benjamins / [...]
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Four-letter words often get a bad rap. And one of those four-letter words that has made me very uncomfortable in the past is “Help” (not the direction that you thought I was going, huh?). Progress doesn’t happen solely on the back of one person, so why are so many of us afraid of asking for [...]
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Whether you are in a professional or personal relationship, setting authentic expectations up front can really create a foundation for the relationship’s longevity. If you do something when you first interact with a prospective customer (or partner), they will expect that to be the norm. If you decide you no longer can or want to [...]
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There are a couple of truths related to getting help in business: (i) it is very hard it is to ask for help and (ii) we can’t build our businesses (or our lives) alone. So once you are ready, how do you get the help that you need? Here are three quick steps to getting [...]
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My dad can’t spell banana (literally, he spells it “banna”), but he can negotiate a mean deal. Sometimes this is by annoying the hell out of the other party, but in this story, it was something different… In the early 1990s, when my parents got divorced, my father had to sell our house. Because the [...]
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[Note: I’m proud to welcome Carol Roth as a guest author here. This post was originally posted on Carol Roth’s Blog and is re-posted here with her permission. It’s another very fitting response to the problem I posted about here yesterday. Tim] This is a tough post for me to write, because I think of [...]
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