Do you want to start a business and be successful?

In the movie and play South Pacific there is a song called “Happy Talking.” The words to that song go something like this (feel free to sing along if you know the tune):

“Happy talk, keep talkin’ happy talk,
Talk about things you’d like to do.
You got to have a dream,
If you don’t have a dream,
How you gonna have a dream come true?”

Surveys of successful people have shown that the love of the work has been more important than the money.

Interestingly, that usually equates into success in the work of love, which is then followed by financial success.  To find out more on how to succeed.  Read more

Why should Inventory and Accounts Receivable be Part of the Purchase Price?

The standard procedure when a broker takes a listing, on a small main street business, can be with or without the inventory being included in the listing price. Including it actually presents a more honest picture, to the buyer, of what is required to buy and run the business. The reason it gives a better picture, with the inventory included, to a buyer, is because when the buyer looks at the net cash flow figure (SDE) and then compares it with the asking price, the buyer sees that it a high multiple. Let’s take an example. Net cash flow is $100,000. The price without inventory is $200,000 and with inventory is $300,000. The price is 2 x without inventory but 3 x with inventory. This might make the asking price look too high but in fact that is the real multiple.

Read the full article to find out why this is so important.

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If you have gotten tired of looking at the same old main street businesses, I would like you to know you are not alone.

You should be prepared to look for up to two years to find the right fit. Read more