Are You Planning to Sell a Business? Avoid These Traps

It has been said that some business owners have been known to refer to due diligence as “the entrepreneur’s proctology exam.” While this is a crude analogy, it is a good representation of what it feels like when a stranger pokes, prods, and looks inside every inch of your business. 

Most professional acquirers will have a checklist of questions they need to be answered if they’re considering buying your company. They’ll want answers to questions like:

• Do you have consistent, signed, up-to-date contracts with your customers and employees?
• Are your ideas, products and processes protected by patent or trademark?
• What are the loan covenants on your credit agreements?
• How are your receivables? Do you have any late payers or deadbeat customers?
• Do you have any litigation pending?

In addition to these objective questions, they’ll also try to get a subjective sense of your business. In particular, they will try to determine just how integral you are personally to the success of your business. 

Subjectively assessing how dependent the business is on you requires the buyer to do some investigative work. It’s more art than science and often requires a potential buyer to use a number of tricks of the trade, such as:

#1: Juggling calendars

By asking to make a last-minute change to your meeting time, an acquirer gets clues as to how involved you are personally in serving customers. If you can’t accommodate the change request, the acquirer may probe to find out why and try to determine what part of the business is so dependent on you that you have to be there.

#2: Checking to see if your business is vision impaired

An acquirer may ask you to explain your vision for the business, which is a question you should be well prepared to answer. However, he or she may ask the same question of your employees and key managers. If your staff members offer inconsistent answers, the acquirer may take it as a sign that the future of the business is in your head.

#3: Asking your customers why they do business with you

A potential acquirer may ask to talk to some of your customers. They will expect you to select your most passionate and loyal customers and, therefore, will expect to hear good things. However, the customers may be asked a question like ‘Why do you do business with these guys?’ The acquirer is trying to figure out where your customers’ loyalties lie. If your customers answer by describing the benefits of your product, service or company in general, that’s good. If they respond by explaining how much they like you personally, that’s bad.

#4: Mystery shopping

Acquirers often conduct their first bit of research behind your back before you even know they are interested in buying your business. They may pose as a customer, visit your website, or come into your company to understand what it feels like to be one of your customers. Make sure the experience your company offers a stranger is tight and consistent, and try to avoid personally being involved in finding or serving brand-new customers. If any potential acquirers see you personally as the key to wooing new customers, they’ll be concerned business will dry up when you leave.

If you are thinking it is about time to sell a business Chicago, then it’s time to contact Value Growth Partners. We can help you build your business value before you sell a business. Call us for a no-fee initial consultation at 312-525-8382.

Do You Want to Learn CEO Succession Planning Best Practices?

Did you know the ideal timeline for succession planning is 5 years? It is possible though for the unexpected to happen and if/when it does, a CEO succession planning best practices is to have a game plan i.e. a succession plan all lined up and ready to go to ensure continued success with your business.

Take a look at the CEO Succession Planning timeline here:

THE SUSTAINING PHASE

Begin this phase 2-3 years in advance. The executives are preparing to thrive under the new leadership; Right Mindset, Future Outlook, Organization's Sustainability, Updated Strategic Plan, Executive Team Assessment, and Internal Team Candidates.

THE TRANSITIONING PHASE

Begin this phase 6-12 months before the leadership transition and consider overlapping with the Sustaining Phase. The organization embarks on the executive search process for the successors that may include board members, management team, and executives. Extensive work is done with transition planning.

THE ONBOARDING & SUPPORT PHASE

The heavy lifting is completed within the first 3-4 months of this phase but the hand-off process continues over a 6-12 month period. The board and senior management team access and adjust to the new leader’s management style and leadership role.

CONTINUED SUCCESS PHASE

The succession preparation and planning process should begin as early as possible. However, there are cases when you do not have the luxury of 4-5 years to plan. In these cases, it is best to have a contingent succession plan in place in the event that an emergency arises.

Value Growth Partners is here to assist with all of your succession planning needs. Request a 15-minute consultation with Value Growth Partners now to set up your ceo succession planning.

ITG to Create Huge Website Traffic Streams Over the Net

The future generation of Net online marketers are counting on web traffic generator software application for their web website traffic needs. Web traffic is needed more than ever before to make the most of conversion rates, improve revenue, and maintain one-upmanship. As well as, the website traffic produced by the Web advertising and marketing service is still raising every day. Website traffic is an essential active ingredient for success in the online company as well as without it the entire company version begins to collapse. This is where a website traffic generator software program can help.

The brand-new as well as reducing side Web advertising service version demands targeted traffic in order to produce revenues and sales. The finest web traffic generation software program offers limitless actual website traffic without any added costs, capes, or blackouts for the traffic itself.

Traffic building using automated traffic generator software, can be an extremely efficient way to raise your site web traffic while preventing or lessening common errors that are commonly made by Net marketing professionals. An ITGS system (intelligent website traffic generator software) can automate all of this as well as avoid future problems such as poor and also frustrating functionality.

Numerous Web online marketers are additionally concerned concerning spending the moment necessary to create high amounts of traffic as well as transform that traffic right into sales using standard Search Engine Optimization methods. Web traffic generation via ICP permits you to obtain back to what is truly crucial, creating high amounts of highly targeted organic website traffic as well as converting that traffic into a sale. Utilizing ICP you will have the ability to invest as much time developing brand-new items as well as solutions as you need to and concentrate more time advertising and marketing as well as promoting them to the masses.

Utilizing ITG produces high quality website traffic as well as enables you to quickly produce sales without having to stress regarding the amount of time it takes to begin producing leads and sales. With ITG the packets of data sent over the Web are of the precise very same high quality as if it were transferred over the Internet utilizing the most present WAN standard, such as TCP/IP.

This indicates you will have the ability to reach throughout the world using ITG and have your traffic ended up being as solid as if it was sent out over a public network, without the hold-up and also transmission capacity constraints. One example of utilizing ICP to create a substantial website traffic rise on the web is by utilizing a "router" or virtual personal server (VPS). A router is simply an IP-based computer that works as an intermediary between your inner network interface and the Web. Each VPS runs its very own os, providing you with the capacity to set up any required software bundles. Since your VPS is running your own os, you will not experience the latency associated with various other sorts of VPS. In enhancement, your web traffic will be encrypted, maintained and guaranteed to be provided faultlessly regardless of what your area.

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Can Cats Find Their Way Home?

So take good care of your cats. However, a cautious note for people who might try throwing their cats out of their house is to understand that most domestic cats of recent times may not possess this skill as their lives have increasingly become sedentary. The reaction is so immediate that cat judges the gravity and guides its body accordingly

But does the world need more cats? A cat is the second most popular pet in the world. And you can't blame the animal shelters for that. We all know that dogs often suffer from articular pains

And people who had the audacity to so much as look kindly at a cat, were deemed witches. The average litter of cats consists of four kittens. A cat can jump upto seven times its height. The eyes of kitten open at eight to ten days of age, and they begin to be weaned about six weeks after birth. A frightened domestic cat can run at speeds of upto thirty miles per hour

When a cat suddenly stops going to his litter box, this problem is normally the cause. When your cat starts to cough and hack, he is normally coughing up a hairball. When he thinks he has annoyed Roger enough he then kneads Sally. By this time everyone is awake and thinking they might as well get up

In just about any country in the world, it is illegal to keep a wild feline as a pet, especially if that wild feline is bigger than an average housecat. Breeders can be found all over the world, including Canada and the United States that offer exotic big cats for sale. So technically, you and your family are more likely to spread bed bugs around that your cat is. Roundworms and hookworms are another type of worm in cats

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Dave Woodward - "A New Revelation "

From selling candy in the 5th grade to becoming the CEO of a company, today’s guest helped ClickFunnels go to 100 million dollars in revenue in less than 5 years! Sounds crazy, doesn’t it?! When you hear the saying, “anything is possible.” Believe it! Listeners, it’s time to Get Naked with David & his guest, Dave Woodward. Dave is a devoted husband, father & a successful entrepreneur. He is a ClickFunnels partner & host of Clickfunnels Radio. David & Dave share stories of how their journey with ClickFunnels began & how much fun they’ve had helping others create success. Be sure to listen to the end to find out who David & Dave’s biggest supporters are. IN THIS EPISODE, YOU WILL LEARN: [00:01:59] First Thing Dave Did to Make Money [00:08:47] How Did Dave Meet Russell Brunson? [00:19:33] How to Add the Most Impact with a Smaller Budget [00:22:47] Biggest Lessons Learned in Scaling a Company Effectively [00:30:55] Final Thoughts from Dave Connect with Dave Woodward: 1. Follow Dave on Facebook, Instagram, LinkedIn, Twitter 2. Find Dave on his website 3. Listen to Click Funnels Radio here Connect with David Asarnow Find David on his website Find David on his Instagram, Twitter, LinkedIn & Facebook About Get Naked Podcast Welcome to the Get Naked In Business video podcast. So the big question is… how do entrepreneurs like us, who built our businesses from the ground up, who spend our own capital, who want to make a huge impact on this world, how do we do all that and create a great income? My mission for this podcast is to interview amazing entrepreneurs who are willing to get naked in front of the mirror, jump up and down, and let the real, raw insights all hang out. Insights to help accelerate your business growth. My name is David Asarnow and welcome to Get Naked In Business. I’m glad you're here… now it's time to get naked! GetNakedInBusiness.com

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Exactly How to Discover the Very Best Hardwood Flooring Specialist

The most important point to take into consideration when hiring wood floor installation specialists is to figure out whether or not they are a respectable firm. With wood flooring refinishing, experience with both strong and engineered hardwood floor covering is essential to ensure quality job. While some hardwood floor redecorating contractors may be reluctant regarding working with crafted materials, most are confident in their capacities as a result of their experience with the products.To begin the process of finding wood floor redecorating contractors, make certain to call about to area stores as well as flooring business to get quotes. A lot of installers will give you a price quote of the moment and price for the work. Nevertheless, it's important to keep in mind that setup times differ depending upon the sort of floor covering being replaced as well as the type as well as top quality of protective cover used. For larger tasks, such as area additions or remediations, the average time taken is normally longer.Once you have several quotes, compare them. Ask each hardwood flooring redecorating specialist for referrals.

It's always a good concept to request a few recommendations from different professionals so you can compare their work, customer support, as well as experience degree. Likewise, ask them for get in touch with info for references that you can call.Once you have narrowed down your checklist to wood floor redecorating service providers that fulfill your needs, schedule a consultation to have the job done. See to it to remember of important information such as the dimension of the area being refinished, where it lies, as well as any unique instructions the supplier gave you regarding the product. In addition, make certain to ask the specialist for a quote of any fees for the coating or extra padding. You need to likewise ask if they will take added images throughout the set up of the floors.Once your visit has actually been scheduled, it's time to reach the hardwood flooring refinishing contractors of your option. Your work will possibly consist of the complying with actions: gauging, fining sand, covering, sealing, overcoat

, and finishing. It's a good concept to generate an expert installer with experience doing this type of work. A professional installer knows how to correctly measure your floors so there will certainly be indisputable when the coatings are used as well as will certainly be able to provide you a great price quote of the price of the project.Once all of the hardwood floors have been set up, you will want to safeguard them. Consider getting special treatments such as Urethane treatments. This is a terrific way to protect your floors against stains and scratches. When you're searching for wood flooring redecorating contractors, ensure thatthey are fully certified and also insured. Request some recommendations or contact the Bbb prior to employing any person.

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Making Riskier Investments: Investing In Futures & Options

That is why it is imperative for you to get to know more about each vehicle. The funds are actually pooled together and invested to give it more revenue and return. This means that although there is still something to gain, the land, which is usually the primary target of most investors, will revert back to the owner. You can put gold in a safety deposit box at your bank or have someone store it for you for a fee, but then you need to trust whoever you store the gold with. We all no that the real estate industry has seen better days thanks to the recession and sadly this chaotic environment is said to continue through 2009

It is a very personal journey that is different for everybody. You'll want to educate yourself before you visit with a dealer. The truth is, there is no right order

It is to be noted that not all cheap services prove to be the best and same applies for the most expensive terms. But market forces had changed dramatically, and there were many powerful changes occurring to bring oil down at the fastest rate in history. S. Just imagine the U

Stock market investing is not a fool proof system. Investment analysts believe the best stocks in the market are those that investors are targeting or investing on. Hence you would not need money from any other source of income. If your thought process is not along those lines, it could still be a fun and interesting reading to see the other side of the world. In fact, since the beginning of the 1990's until now, 2010, the number of Americans who invest in the stock market has more than doubled

It is possible to become successful in real estate investing in a short time and, even when starting a business of real estate investing, you can find the time without crimping your current lifestyle! Starting a business of real estate investing with a simple plan. Starting a business of real estate investing - whether you work out of an office or a 'home based business' you run out of a corner of your bedroom, you can drastically change your life, and your income in as little as 10 hours per week - all through a very simple plan of real estate investing. Fixed income mutual funds consist of government securities and other private or corporate bonds. If you plan to rehab a property so that you can sell it, take care not to personalize the home too much. There are no delays in the sale process whatsoever

e. Gold coins are easy to sell -- Liquidity is an important factor in any investment, and gold coins are easier to sell than gold bars. Although it is true that stock trading can bring you a lot of money, most people fail to consider the high risk that is involved when stock trading. If you don't do enough diligent research you may end up buying the wrong stocks and all your money will go down the drain

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