To leave work after thirty-five or forty years may sound like a great idea. You may be ready to go. But when you begin to consider the reality of what life will be like after retirement, the uncertainty can be pretty intimidating. If you haven’t planned, you may be dragging your heels. You may have to […]

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Springboard to Riches

Springboard to Riches A number of years ago a man named Rick called us to sell a division of his company. As we began our Comprehensive Business Analysis, we started hearing that the business was not operating very well. While sales were in excess of $100 million, pre-tax profits the previous year were only $100,000. […]

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Under the Restaurant Table

A dishonest business owner discovers the domino effect … the hard way. Early in my career I was selling a mid-sized restaurant in a shopping mall. It was a nice restaurant, family style, licensed, table seating of a hundred and twenty with ten bar stools. The statements showed a reasonable profit, not great, but reasonable. […]

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When a Rest is as Good as a Change

Burnout is a very real problem and shouldn’t be taken lightly. It’s a state of emotional and physical exhaustion. It’s caused by excessive and prolonged stress. Burnout reduces productivity and saps energy. It leaves its victim feeling hopeless, powerless, and resentful. Burnout can threaten jobs, relationships, and health. It certainly affects a business owner’s judgment. We […]

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Perception is Everything

Perception Is Everything We were called in one day to look at a company that was in the specialized trucking business. Milt had forty trucks and substantial customers. He was thirty-seven or thirty-eight years old and looked like he was fifty. And as I got to know him, I found out that he worked roughly […]

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A Second Chance

In spite of all the clichés that we hear about banks lending money as an umbrella and wanting the umbrella back when it rains, there are many great success stories about how bankers can help a businessperson. For example, they can help owners make a quick solution. The following is an excerpt from Doug’s book “There’s […]

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The Value of Full Disclosure

When it comes to digging businesses out of self-made trenches, there is nothing quite like an advisory board. Here’s a tale from Doug’s book of how a team of experts helped a company. The Value of Full Disclosure Donny and Erica, a husband and wife team, approached us a number of years ago to sell […]

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I Put My Foot Down

An old Chinese proverb says, “He who speaks first, loses.” Consequently, I always advise my clients to simply answer any questions put to them by the purchaser during negotiations, without offering any additional information or overtures. I tell them that when the purchaser is allowed to speak first, we can assess the proposals as they […]

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When It Rains, It Pours

When integrity is lost, it’s almost impossible to get it back. Sellers who have misrepresented their company are dishonest. They are no longer trusted. Any potential purchaser will lose confidence in the seller and walk away from the deal, or try to buy it at a very low price. The following is an excerpt from Doug’s book […]

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Have an Exit Strategy

A professional practice is a business, just like any other, and partnerships are prone to fail. The cost of setting up the correct structure for operating and ultimately terminating the partnership is relatively inexpensive compared with the cost of unraveling a relationship that no longer meets the original needs, not to mention the emotional cost. […]

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