Many things can and do go wrong during succession planning, but here are the top 3 we at Gibson’s see during succession planning: The owner is not mentally prepared. The mind dictates clearly that it is time to hand over, but the heart does not want to let go. It is one of the key … Continue reading Plan for the unexpected
To get a great result on the sale of your business, you need to start thinking like a buyer, rather than a seller. As a business owner who has decided to sell, this can be a difficult thing to do. But if you can successfully put yourselves in prospective buyers’ shoes and ask ‘what’s in … Continue reading Putting yourself in the buyers’ shoes
Because business owners have built their company over decades and invested their hearts and souls into it, they’re often tempted to measure value more with their emotions than with a clear logical mind. To avoid this, calculation methods can help determine the value of a company, with the most applied being: Income approach: Starting point … Continue reading The real value of your business?