Growing a Business
One of the first things I always tell business owners who are getting ready to sell is that the process typically takes more than 6 months. What I never had to talk about before March 2020 was the impact a global pandemic will have when selling a business. Background In summer 2019, I began working…
Business owners have many different reasons for wanting to buy another business. Some owners want to grow by acquisition. Other business owners want to diversify. Regardless of the reason, all business owners have the same overall goal which is to increase revenue and strengthen the financial health of their business holdings. Buying an additional business…
A recent article in the Calgary Herald outlined some of the frustrations and challenges affecting business owners in the city’s various destination districts. According to the article, destination districts in Calgary have increasing vacancy rates. The article surmises that business closures are the result of a variety of factors including a weak Canadian dollar, the…
As the City of Calgary entered 2018, experts said that the local economy was on the rebound but that there would still be tough times ahead. Small business owners were impacted by various factors such as higher property taxes, increased payroll costs, and escalated cost of goods. While the oil and gas industry continued to…
Increasing profit margins, decreasing expenditures, and expanding service offerings are all ways business owners can work towards increasing the value of their business but these methods can have a ceiling on how much they impact the bottom line. Another way to increase the value of a business is to grow by acquisition. In fact, this…
There are a few key indicators that separate good businesses from great businesses. A great business will exceed in one or more high-performance indicators and this helps them to grow more quickly, successfully, and sustainably when compared to others in their industry. Building a high performing business can help it to be more profitable and…
Many business owners do not have an accurate idea of what exit planning is and why it is an important part of business success today and in the future. Many believe it is merely one small phase of their business experience that they only need to think about when they are ready to sell. This…
Successful business owners know that a good business plan provides a foundation upon which they can build. There is an additional document small business owners should draft that can help them grow even more. A business growth plan is often overlooked and undervalued but this document can help catapult a business to the next level. …
Business owners invest a great deal of time, effort, and money into their business. As a result of that investment, many owners overestimate the true market value of the business. This can lead to disappointment when the owner has the business evaluated by a Certified Business Intermediary or if they try to sell the business…
For some business owners, buying a commercial property is a sound financial decision. Owning the space where the business operates provides flexibility in terms of ensuring the space meets the current and future needs of the business. It can help business owners build equity and removes the risk of rent increases or unexpected lease terminations. …
Owning a home is a keystone of wealth… both financial affluence and emotional security.