Tag: sell your business

How to Avoid These Common Business Selling Deal Breakers

Written by Southard Financial on January 14, 2021. Posted in Blog.

When it comes to the process of selling your business, there are several things that can ruin an otherwise good deal.

Over the years, we have seen plenty of deals go off the rails. It’s always an unfortunate event. Like we mentioned in our previous post, it can happen when owners and buyers can’t see eye-to-eye on the value of the business. When owners are unwilling to budge in spite of all the evidence pointing to a lower value, many buyers will simply walk away.

There are plenty of other factors that have the potential to wreak havoc on a transaction, including but not limited to:

Why You Need to Be Realistic About the Value of Your Business

Written by Southard Financial on December 19, 2020. Posted in Blog.

Here’s something you don’t usually hear a transaction advisory firm say: sometimes we can’t sell your business!

It’s not for lack of preparation. At Southard Financial, we go over every client’s business situation with a fine-toothed comb to accurately determine the value range of what their company is worth.

It’s not for lack of experience. In our case, we’ve been at this for over 30 years.

Why Deals Die

Build a Dream Team When It’s Time to Sell

Written by Southard Financial on December 11, 2020. Posted in Blog.

“Talent wins games, but teamwork and intelligence win championships.” – Michael Jordan

In 1992, the United States assembled what has been called “the greatest collection of basketball talent on the planet.” For the first time in Olympic history, at the Barcelona summer games, professional athletes were allowed to participate.

The U.S. men’s basketball “Dream Team” was made up of NBA players who were at the top of their careers. Any one of them on their own was a superstar. All of them together were unbeatable, and they had a lot to prove.

Why You Need to Plan Your Financial Future Today

Written by Southard Financial on December 2, 2020. Posted in Blog.

Bob had built a booming business before he died.

It was something he’d built from the ground up with blood, sweat, and tears. He had grown from a single truck with some tools into one of the area’s most reputable fine home builders, with multiple crews working all over the city.

He was the 100% owner, and had run the company solely for the benefit of his family’s lifestyle. Many wonderful memories with his wife and kids were made possible by the income his business generated.

Avoid These Common Pitfalls When Selling Your Business

Written by Southard Financial on March 27, 2020. Posted in Blog.

Harry and David revolutionized the way things were done in their industry. When they came on the scene, no one had ever seen anything quite like the world they created. In their first year alone, they moved over a million units, received numerous awards, and were number one in their market.

Harry, however, could never seem to get what he was after…which is exactly the way David designed it. No matter how hard he tried to succeed, David made Harry’s life difficult at every turn. It almost seemed like David wanted him to die! In spite of their differences, however, they had a very profitable business relationship for nearly 30 years.

Want To Sell Your Business? Here’s How To Close The Deal

Written by Southard Financial on September 2, 2019. Posted in Blog.

Over the past couple of months, we’ve been taking a deep dive into the process of selling your business, ending with today’s post on how to close the deal. We’re pulling back the curtain on exactly how we at Southard Financial help you find a qualified buyer for the company you’ve built.

Want to Sell Your Business? You Need an Expert Marketer

Written by Southard Financial on August 5, 2019. Posted in Blog.

Note: In case you’re just joining us, this is Part Two of a series on how to sell your business. Before reading this post on marketing your business, take a couple of minutes and read Part One: Getting a Valuation if you missed it.

After securing an accurate valuation, the next step is to begin letting potential buyers know that your business is available. No one can buy your business if they don’t know it is for sale. There are several simple and direct ways to do this:

Want to Sell Your Business? You Need a Solid Valuation.

Written by Southard Financial on July 2, 2019. Posted in Blog.

Welcome to the first post in a 3-part series on How to Sell Your Business.

So, you’ve got a business that you want to sell and you want to get the best possible price for your business. How do you get that price? How do you know what your business is worth? You need a solid valuation!

7 Time Tested Fundamentals of Selling your Business

Written by Southard Financial on May 17, 2019. Posted in Blog.

Would you rather sell your company for 3x or 10x EBITDA?

That’s a big difference, and one worth putting serious thought into.

Let’s say you have 2 companies. Both generate $25 million in revenue and $5 million of profit a year. Company 1 has an owner with complete control of all areas of the business and no management diversification. Company 2 has great management diversification and its largest customer is only 2% of its revenue.

Both companies might sell. But Company 1 will bring in much less than Company 2. Let’s look at some key factors you can take control of now to help you sell like Company 2 later.

Risky Business? 6 Risk Characteristics that Hinder Business Owners from Realizing Value

Written by Southard Financial on April 17, 2019. Posted in Blog.

The market is hot, buyers aren’t skittish, interest rates are low, and your business is really doing well. According to most business appraisal experts, this hypothetical moment would be the perfect time to sell your business.

But not so fast.

There are often overlooked aspects of a business that can significantly lower its value when the time comes to sell. These six risk characteristics can actually hinder your ability to realize the maximum value of your business.