Running a business · 10 guides
Business Broker: problems and fixes, explained by Michael
Michael Rubin is the only business broker member of BNI Preston Center. These guides are written for a Dallas–Fort Worth reader who has the problem right now: what is happening, what to check, when to call, and what it costs.
- What it costs to sell a company through an M&A advisor, and what the fee should buy Most owners ask about the fee before anything else. Here is how advisors are paid, what the fee should cover, what sits outside it and how to tell if it earns its keep. The short answer on costThree ways advisors get paidWhat a fee should actually buyCosts of a sale that sit outside the advisor's fee
- Selling your company without a broker: what you would take on, and where it breaks down You can sell a business without a broker, and some owners do. Here is the full list of jobs you would take on, the ones owners handle well and the points where self-run sales usually fail. Yes, you can, and here is the honest trade-offThe jobs you would be taking onWhere owners do well on their ownWhere self-run sales usually break down
- Selling a company in Texas: the tax, sales-tax and paperwork details owners miss Selling in Texas has a few advantages and a few traps. Here is how state and federal taxes touch a sale, why buyers ask for a Comptroller certificate and what paperwork to plan for. What is different about selling in TexasNo state income tax does not mean no taxAsset sale or stock saleHow the price gets divided, and why the IRS cares
- Is your business ready to sell? The signs buyers reward and the ones that stall a deal Ready to sell is not the same as wanting to sell. Here are the signs buyers reward, the ones that drag down price and a self-test you can run this month. Ready, in one paragraphSigns buyers rewardWarning signs that stall a dealA self-test you can run this month
- How long it takes to sell a company, from the first meeting to the wire transfer Most sales of established companies take months, not weeks. Here is what happens in each stage, how long each one usually runs and what speeds a deal up or slows it down. The timeline in a few sentencesBefore the clock starts: the discovery meetingEngagement and the marketing packageMarketing and buyer screening
- Formal valuation or opinion of value: which one your situation actually calls for Planning a sale and settling a partner buyout call for different kinds of numbers. Here is how an opinion of value and a formal valuation differ, and how to tell which one you need. Which one you need, in briefWhat an opinion of value is, and what it is notWhat a formal third-party valuation addsSituations that call for a formal valuation
- Five beliefs about business value that cost owners money at the closing table Most owners carry a number in their head. Here are the five beliefs behind that number that most often turn out to be wrong, and what buyers actually pay for instead. Where the number in your head goes wrongBelief one: the business is worth what I need to retireBelief two: there is a standard multiple for my industryBelief three: my perks and cash income obviously count
- Before you sign with a business broker: the questions that show who can actually close A listing agreement ties up your company for months. These are the questions to ask first, the answers worth hearing and the warning signs worth walking away from. The questions that matter mostQuestions about fit and track recordQuestions about buyers and marketingQuestions about confidentiality
- After the sale: how long owners stay on, how the handoff works and what comes next Closing is not the last day. Here is how long sellers usually stay, how the transition is negotiated, what a partial sale changes and how to plan for the Monday after the wire arrives. How long sellers usually stayWhy buyers want you to stayWhat a transition agreement usually coversThe first months under a new owner
- Someone just offered to buy your business: how to know what it is worth before you answer One buyer, one number, and a deadline that feels urgent. Before you respond, here is what the offer tells you, what it hides and how a competitive sale is run. The email from a buyer, and the question you cannot answerWhy the first offer is almost always the low oneWhat to work out on your own before you respondWhen it is fine to wait a year, and when to act now