Recently I wrote about various business brokering practices.  This is a summary of my practice, as written for a selling client: My brokering practice is multifaceted and, at the same time, responsibly limited. Included in the practice for my client sellers is preparing a valuation based on successful New Mexico business sales, validated against the [...]

What exactly are the duties and practices of a business broker? My opinion: As with many other professions there are basics that must be met, physicians must ‘do no harm.’  Perhaps in business brokering, the basic is ‘fair and honest.’ Usually the broker has a specific duty to either the buyer or seller, whomever they [...]

Recently a business owner was asked directly by the buyer of the business for a current year cash flow.  The seller produced a cash flow and gave it to the buyer. The buyer was elated as it showed more cash flow than the profit and loss statement demonstrated. Unfortunately the business owner did not know [...]

Always, if I can buy local, reasonably, I do. It happened that yesterday, while in Albuquerque, I needed to make a small purchase, $1.95. The purchase was of a miniature skein of yarn to repair the dreaded moth holes in my lovely sweater. I have never before been to the Yarn Store at Nob Hill.  [...]

Entrepreneurs come in the not-so-detailed, detailed, and everything in between definitions.  Just like the rest of the human race. One of my clients has an office in their house.  Each hard-copy document is neatly placed in just the right three-ring binder.  The documents range from every sale ever made, to photos of the inventory, the [...]

Once I ran medical office businesses.  Some were urgent care facilities.  After several years, it became clear that there was no rhyme or reason to the revenue flow.  The only thing that was clear was on the days I would visit any specific location, there were no patients.  They had either come the hour or [...]

Many entrepreneurs dream of developing their business to a point where they can add staff and other assets, relieve the pressure of doing everything, and focus on managing. Then the point comes when just one more customer has arrived and it makes sense  (perhaps) to take the next expansion step.  Judging the time for this [...]

Business Owner:  My business is starting to recover after the economic downturn. There is no single answer to this question “Do I sell now.”  Many business brokers are reporting that their sales are up this year.  This swing from low sales to higher sales is not necessarily based on greatly improved business-for-sale values.  Instead the [...]

Recently one owner of a business died, the father.  He and his wife had started and operated the business together.  He became ill and after a long health crises, one with ebbs and flows, he died.  His role with the business also ebbed and flowed as his health demanded.  The wife was increasingly responsible. Knowing [...]

Recently, at lunch with business owners, I was asked what are a couple of must dos for business owners that eventually want to sell. The first thing that slid off my tongue was “don’t be sloppy.” You know what a sloppy business looks like.  It could have one or more of these characteristics: Records are [...]