Blog

Would you call a Dentist to sell your business?

Dentists provide an essential service and help maintain good dental health. Accountants provide an essential service for your financial reporting needs and meet CRA requirements. So why would you call your accountant to help sell your business? It is astounding to discover that a number of business owners have a very narrow range of professional …

TOP 10 EXCUSES FOR NOT SELLING

Every business owner has a favourite reason for not selling. Whether it’s “I’m gonna live forever!” “I don’t want to face what it’s not worth,” or even “There are plenty of interested buyers—I get calls all the time!” We’ve heard them all. Here’s our analysis. I want to continue not going fishing every chance I …

THE IMPORTANCE OF EXIT PLANNING – 6 CRUCIAL STEPS

Despite having spent a significant part of their working lives establishing and building a successful company, surprisingly few owner-managers spend enough time planning how and when they will exit their business and crystallise the value they have built up. In many cases owner-managers remain focused on day to day matters and leave the exit to …

WHAT IS THE DIFFERENCE BETWEEN VALUE AND PRICE?

Some would argue that a business valuation is not useful to business owners for exit planning purposes because the valuation can become outdated quickly and it may not provide an accurate assessment of what a potential purchaser would be willing to pay for the company. However, the facts are that a valuation can be very …

WHAT IS AN EXIT PLAN?

An exit plan is a comprehensive road map to successfully exit a privately held business. An exit plan asks and answers all the business, personal, financial, legal, and tax questions involved in selling a privately owned business. It includes contingencies for illness, burnout, divorce, and even the owner’s death. Its’ purpose is to maximize the …