Selling a business is no easy business. In fact, more often than we would like, businesses for sale get all the way through escrow…only to fall out right toward the end, for a variety of reasons. Sometimes the reasons are legit; others times they are downright silly. [Read more…]
Because there are many types of businesses that exist for many different industries, it stands to reason there are numerous ways of approaching the process to find the value of a business for sale.
There are three main approaches to value, which are: the income approach, the market approach, and the asset approach. There are variations of these approaches, and combinations of them. These variations must be considered because each and every business will be valued individually, and some of these differences can be substantial. [Read more…]
At some point, owners of businesses face the question of business risk. Risk is inherent in almost everything we do in this world in which we live. Those seeking small business advice will do well to consider business risk and its effect, because in addressing our potential to fail we can minimize the likelihood of such failure. [Read more…]
There are three primal categories of successful entrepreneurship. They are providing, innovating, and inventing. The foremost, but least common, is inventing.
To be a successful inventor, which is the premier summit of all entrepreneurship, requires these three irrefutable qualities. They are: [Read more…]