Business owners decide it’s time to sell for many reasons. Some of the standard tips for how to get the most for your investment when selling a business are less obvious than others. Here are some of the less obvious tips available.
You’re not alone if you inherited the family business with no formal succession plan in place. About 64 percent of family companies don’t have a written succession plan, while another 19 percent have one “in progress.” Use these tips to find your footing after you’ve suddenly inherited the family business.
Don’t let the pressure of taking over your family’s business wear on you. Instead, take steps for a smooth transition.
What's striking about the history of business plans is how little has changed. Sure, the medium we use has changed over the centuries, but the end result – having a written plan that demonstrates to the business owner and possible investors how to make a profit – has remained consistent.
Do you know what is a fad, and how to profit from one?
According to the Department of Veterans Affairs, veterans are 45% more likely than their civilian counterparts to become successful entrepreneurs.