Posts by John Lastra
Why Deals Fall Through
There are a multitude of reasons why a business sale can fall through. But, more often than not, problems can be boiled down to one of these four. Conflicting expectations Buyers want to get the best bargain and sellers are looking to get the most profit. This fundamental difference between buyers and sellers can make…
Read MorePersonal Guarantees, Don’t Take Them Personally
In today’s small business world, nearly every loan will require a personal guarantee from you. This is also the case when you’re looking to finance the purchase of a small business. Options for lessening liability of business owners, like limited liability companies (LLC), have become more and more popular. But as more business owners look…
Read MorePositioning Your Business: Price
As a business owner, you already know the importance that price has in a purchase decision. Unsurprisingly, pricing your business correctly is a critical step to attracting the right buyer. The first step to understanding how to price your business is to understand the types of buyers in the market. There are three core varieties…
Read MoreDon’t Make These Mistakes When Selling Your Business
Business sales or acquisitions can be challenging. Making the right choices during a business transaction can be difficult when you’re simultaneously juggling day to day business operations. To help you navigate this undertaking, I have put together this list of advice for avoiding common mistakes I’ve seen as a business broker. 1. Mixing business with…
Read MoreThe Most Common Times to Sell a Business
In a previous post, I discussed how to assess when to sell your business. The decision to sell your business can be very personal, or it can simply be part of your business strategy. After over 30 years in business brokerage, I’ve observed that the decision to sell is usually one of three distinct reasons.…
Read MoreWhen is the Best Time to Sell Your Business?
The time to sell is when you do not have to sell. Selling a business can be a tricky undertaking with many considerations involved. Are you financially able to sell your business? How much is your business worth? How do you begin the process of marketing your business for sale? Who will facilitate the transaction?…
Read MoreThree Keys to Selling Your Business
1. Optimize your income Take a look at your revenues and expenses, cut out unnecessary expenses and look for savings in necessary expenses. Higher net income means a higher valuation of your business. This is also an excellent opportunity to clean up your books, making them easy to understand for potential buyers. 2. Reinforce weaknesses…
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