Intangibles Assets

What Are Intangible Assets?  Instead of asking that question, maybe we start with “what are the Tangible Assets?”  Business owners can wrap their arms around those much easier.  The simplest tangible asset to grasp is Net Income.  It’s the amount of...

We Know What We Should Be Doing

It’s Not Rocket Science Our process at Contractor Succession usually launches with an on-site client visit that we affectionately term our “State-of-the-Union Assessment”.  This involves an in-depth analysis of the business from soup to nuts.  As...

Does the Customer Really Come First?

Reconsider Your Priorities This is a repost of a blog I did for my mechanical business, Goodco Mechanical.  It has great relevance to anyone in the service industry.  Read on…. When I started Goodco Mechanical in my dining room in 2008, one of the first things I...

What’s My Business Worth?

It’s only worth HOW MUCH??? One of the biggest challenges we face is discussing the potential value of someone’s business.  In fact, “What’s my business worth?” is usually in the first 15 minutes of any discussion.  It’s oftentimes...

Transferring to Family or Employees

Options for Transferring to Family or Employees When considering your options for exiting your business, many owners look to transfer to family members or existing employees.  The desire to leave a legacy for those who have been with you all along may outweigh your...