Around the Web: A Week in Summary
A recently published article from mybusiness.com.au entitled “Tips to Prepare for a Business Sale” outlines important factors to consider in preparing to sell a business. These factors are important to consider for any owner, even if they aren’t looking to sell immediately. Preparations for selling a business not only help for planned sales, but they also help to get things in order for an unexpected sale in the event of a tragedy involving the current owner.
Important factors to consider include:
- Don’t take cash as income – Make sure to record each and every dollar of income on the books
- Have organized and complete legal documentation for your company, staff, clients, etc.
- Get expert advice to make sure everything is prepared correctly
A recent BizBuySell article entitled “Top 4 Small Business Funding Methods of 2017” outlines some of the best options for funding the purchase of a small business when personal savings, loans from family and friends, or credit cards don’t quite cut it. They include:
- SBA Small Business Loans
- 401(k) Business Financing
- Home Equity Lines of Credit
- Unsecured Loans
Each of the above methods have their own pros and cons, and deciding which method is best when looking into funding options is ultimately up to the borrower. While there still several options outside this list, these are some of the most common and are widely available to applicants in a wide variety of situations.
A recent article posted on TheMarketMogul.com entitled “M&A Integration: How to Retain Key Personnel” illustrates the importance of having a solid post-merger process for retaining and satisfying employees: one of the most important elements of a successful business. Given startling statistics involving post-merger dissatisfaction among business leaders, employee satisfaction comes out as one of the most valuable factors in success following a transaction. The following are some of the most important factors involved with a successful merger or acquisition:
- The CEO is Critical
- Make Communication Clear, Candid, and Consistent
- Create a Merger and Integration Office (MIO)
- Identify Cultural Differences Early On
- When Possible, Make Decisions Quickly
While these represent some of the most important factors to consider in any merger, there will undoubtedly be many more unique to each individual transaction. Whether or not these apply directly to any specific situation, the general themes will carry across many different transactions.