Todd Cushing’s Post

Contemplating the closure of a business evokes a significant moment. It represents more than a mere change in ownership; it encompasses months of steadfast dedication and unwavering persistence. Successful closures underscore the importance of careful planning, negotiation, and meticulous attention to detail. #BusinessClosure #Dedication #Perseverance #sellmybusiness https://lnkd.in/g3xZ_GYe

𝐘𝐨𝐮 𝐒𝐡𝐨𝐮𝐥𝐝 𝐊𝐧𝐨𝐰 𝐓𝐡𝐞𝐬𝐞 𝐅𝐢𝐫𝐬𝐭 𝐁𝐞𝐟𝐨𝐫𝐞 𝐘𝐨𝐮 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐚 𝐒𝐦𝐚𝐥𝐥 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬. A recent Forbes article shared some insights and outlined the initial steps and crucial factors involved in acquiring a small business. Small business acquisitions involve sensitive information; understanding and signing a Non-Disclosure Agreement (NDA) is a customary first step. Legal intricacies in acquisitions make a knowledgeable business attorney crucial to navigate the complexities and protect the buyer. It is essential for the buyers to assess and address risks, including business dependencies, liabilities, and the transferability of critical contracts, to ensure business continuity and minimize potential losses. 🔔 Here are 12 crucial factors to evaluate before making a purchase: - 𝐍𝐃𝐀 𝐒𝐢𝐠𝐧𝐢𝐧𝐠 - 𝐋𝐞𝐠𝐚𝐥 𝐂𝐨𝐮𝐧𝐬𝐞𝐥 𝐒𝐞𝐥𝐞𝐜𝐭𝐢𝐨𝐧 - 𝐄𝐧𝐭𝐢𝐭𝐲 𝐒𝐞𝐭𝐮𝐩 - 𝐓𝐞𝐫𝐦 𝐒𝐡𝐞𝐞𝐭 𝐏𝐫𝐞𝐩𝐚𝐫𝐚𝐭𝐢𝐨𝐧 - 𝐊𝐞𝐲 𝐓𝐞𝐫𝐦 𝐈𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧𝐬 - And more! 𝐓𝐡𝐢𝐧𝐤𝐢𝐧𝐠 𝐚𝐛𝐨𝐮𝐭 𝐚𝐜𝐪𝐮𝐢𝐫𝐢𝐧𝐠 𝐚 𝐒𝐦𝐚𝐥𝐥 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐛𝐮𝐭 𝐮𝐧𝐬𝐮𝐫𝐞 𝐰𝐡𝐞𝐫𝐞 𝐭𝐨 𝐬𝐭𝐚𝐫𝐭? Click this link to learn more: https://smpl.is/8s6rv #BusinessAcquisition #SmallBusiness #LegalGuidance

The business owner selling his or her business often finds it surprising to learn how much time, money, and energy it takes to endure the buyer’s due diligence process. Here's how to prepare for the due diligence process when selling a business. https://buff.ly/3A1ulJ4 #

How to Liquidate a Commercial Business in Texas? Liquidating a commercial business in Texas involves several key steps to ensure the process is handled legally and efficiently. If your business is a corporation, your first step to liquidate a commercial business in Texas is to convene a board of directors meeting to vote on the decision to liquidate the business. You should document this decision in a formal resolution. You should also obtain approval from any shareholders as required by the bylaws or articles of incorporation. 

#companylaw #denmark As a business owner, it may become necessary to close your business. Depending on the type of business entity you have, there are various ways to shut down a business.  

Lets explore the fundamentals of deal structures, common types of deal structures, and the importance of structuring your deal correctly. #dealstructuring #businessowners #businessfundmentals

Here's a great article for business buyers! Once the deal is done and you’re officially in charge, having a solid plan is the key to success. While most business buyers have a strategy in place, this article offers valuable tips to ensure you’re fully prepared for the journey ahead. If you have questions about financing your dream business, email me dennis.tynes@voyagerlending.com 📥 #SMB #SmallMidsize #500Employees #MainStreetBusiness #SBA #SBA7a #SBALending #WorkingCapital #BusinessGrowth #ScaleUp #ExpansionCapital #CommercialRealEstate #BusinessAcquisition #SBA5Million #SmallBusiness

Attn Business Owners: The SBA added a nice benefit for you to acquire a business with no money down, as long as it is the same type of business. Contact me when you are ready to grow rapidly through acquisition. Here is my latest blog post about due diligence. https://lnkd.in/dvc2hEza

The number one thing you need to do in order to sell your business is... DRUM ROLL PLEASE... Create recurring revenue in your business! Yes. It's true. Before listing your business for sale, you need to step into a potential buyer's shoes, and think about what would make buying your business an easy "Yes." When a buyer is considering whether or not to purchase your business, they are going to receive your financial history - P&L reports, balance sheets, IRS docs - but the business history is only 1 piece of the puzzle. They are going to want to see future profit potential, and nothing says "profitable future" more than recurring revenue. When a buyer can see a year's worth of guaranteed payments on the books, it makes the purchase a No Brainer! And we want to make it a No Brainer for buyers to acquire our business. So if you are thinking about maybe selling your business within the next 3 to 5 years, and you are not on a recurring revenue model yet, you need to make this change ASAP. Because the longer you have recurring revenue on the books, the more likely it is that you will sell your business for your desired asking price. This is just 1 of the topics that I will be covering in my upcoming masterclass. POSITION YOUR BUSINESS TO SELL Wednesday, May 22nd, at 12pm ET Co-hosted with Sankeetha Selvarajah, Managing Attorney at Zensei Law and strategic advisor for mergers & acquisitions. During this masterclass, you'll learn 🏷️ How to emotionally prepare yourself for the sale of your business 🏷️ The 5 steps you must take now to position your business to sell 🏷️ How to price your services to make a business acquisition most enticing 🏷️ How to set the highest asking price and walk away with the most 🏷️ The legal side of an Exit Plan DM “sell” for the registration 🔗 *Disclaimer: This workshop/seminar is for informational purposes only and does not create an attorney/client relationship. The information contained in this masterclass shall also not be understood or construed as financial advice.*

Countless times, when I or others in my network talk to small business sellers, we end up on very different ends of the valuation spectrum. There are many reasons for this. But one of the big ones seems to be that small business owners, who have put years and years of blood, sweat, and effort into building their business feel like the sale should compensate them for their sacrifices No doubt about it, that's a huge consideration. At the same time, all the acquisitions folks I know are chiefly interested in What's In It For Them. They don't want to compensate an seller for what they've put in - they want to pay for what they'll get out. And that's a divide that we often can't get past. The Compensatory vs. Value Transfer conundrum. Other divides come in, when people are valuing businesses based on different criteria. Here are a bunch to consider - and frankly, given all the conversations I've had personally (and heard about) over the past 5 months, it would probably be an excellent idea to start out each and every conversation about buying/selling a business with a level-set on who's doing valuation based on which approach. Here's some high-level info... https://lnkd.in/ev5BqrUD