Exit Strategies Take Time and Planning
Most business owners want to sell their business at some point. Unfortunately most fail to plan effectively for this eventuality. In many cases owners cannot find a good buyer and end up liquidating their business for only the value of the assets. Prepping a business to sell for a premium price takes a significant amount […]
Making and Managing Profits
Small business owners start a business with the goal of making a profit using the premise that by increasing sales, profits will increase. While this is true to a point, there are incidents where businesses have increased sales to the point where they are operating at a loss. There could be many reasons for this […]
Management Problems in Family Owned Businesses
The Cox Family Enterprise Center at Kennesaw State University publishes the following set of 10 facts about family owned businesses: 80% of the world’s businesses are family owned. In the past five years, Americans have started mare than 3 million family businesses. Family-run businesses account for half of the nation’s gross domestic product. Nearly 35% […]
Strategic Alliances Can Pay Dividends for Georgia’s Small Businesses
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Strategic alliances have been commonplace for many in the corporate arena for a long time but it also becoming a staple for small businesses around the nation and Georgia as well. Small companies are seeing benefits in joining forces to provide products and services in a more efficient and profitable manner, often teaming up to […]
The Business “Map:” Don’t Leave Home Without It!
Not many of us would study an atlas, get in our car, and head out for Chicken, Alaska, without a map, relying solely on our memory to remember all the route changes. Yet that is the equivalent of what many businesses do when “driving” their businesses. The result is usually the same for both the […]
Decisions? Making the Right Choices!
The country singer George Jones has some lines in one of his songs that state that we are a product of the choices that we have made in our life. Just as individuals must make choices about their lives, so too must businesses make decisions about the operation of their enterprises. Each day business owners […]
Always Think Strategically
As a business owner in a sluggish economy, you may be facing a decline in sales, poor cash flow, aging accounts receivables, and dwindling profit margins. Tight financial times are causing most businesses some degree of pain, but this burden can play havoc on a small company. In adverse situations, there is a tendency to […]
When to Exit? A Small Business Owner’s Biggest Dilemma
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There are only a few certainties in life; death, taxes, and one thing few successful small business owners realize or want to realize, the day they will be faced with perhaps their biggest dilemma, “How do I exit and when?” In this regard, it is not unusual that few successful small business owners understand the […]