SUDOKU (SOLUTION ON PG. 4) Take a Break!
Get the Wisdom of Other Business Owners’ Mistakes FROM TERRY MONROE’S ‘HIDDEN WEALTH’
Are you planning on selling your business in the next 1–2 years? If so, you need to start planning now. But where do you even start? Selling a business is a massive undertaking. With so many things to consider, some confusion is understandable, but if you don’t get the right kind of help, you could end up selling your business for far less than top dollar and leave tens of thousands of dollars on the negotiating table. These are the kinds of cautionary tales that market maker and four-time author Terry Monroe shares in “Hidden Wealth: The Secret to Getting Top Dollar for Your Business.” While we’d like to hope we’re accomplished
and savvy enough to sell our business without any help, the uncomfortable truth is that tons of successful business owners have lost out on millions of dollars in selling their businesses — all because they didn’t know exactly what they were doing. Sometimes, contemplating the financial implications of selling your business and dealing with the strain and grief that come with doing so are worse than actually selling the business. So, what then? Well, in Terry Monroe’s “Hidden Wealth,” you’ll also learn how to realistically assess your situation, deal wisely with the business you’ve built over the years, and maximize the money you’ll receive when you decide to sell. It has been said that we learn from our failures, not our successes, but the true sign of a successful individual is to learn from someone else’s failures and not your own. “Hidden Wealth” seeks to do just that — give every business owner access to the lessons learned from the mistakes of other business owners so they can avoid the setbacks and reap all the rewards. Find out how you can get a copy today by emailing Terry@terrymonroe.com .
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5. They lose focus on their core business and then tell the bank, “I want to open a ‘sports bar,’ too.”
6. They are reactive instead of proactive. This is, as always, the kiss of death.
7. They don’t understand the difference between equity capital and traditional bank financing. The bank does NOT want to be your equity partner.
8. The bank is not your solution provider. You are the solution provider.
9. Piecemeal documentation — or just not providing the documentation I request — speaks volumes of a person’s organizational skills and ability to pay attention to detail.
And lastly,
10. The borrower’s son or daughter will be the succession plan solution. I DO NOT think so … –Terry Monroe
CELEBRATION DECORATION FAMILY GATHERING
GINGERBREAD HEARTH HOLIDAY ICICLE
MIDNIGHT MITTENS PRESENT ROOTS
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