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Monthly Archives

January 2024

How to Sell Your Business

How to sell your business represented by image of 2 businessmen shaking hands.
Embarking on the sale of your business is not just about cashing in on your hard work—it's a complex process that reflects the culmination of time, investment, and dedication. This journey to a successful sale begins with understanding the pitfalls and planning meticulously to avoid them. In this guide that follows, inspired by the book Tips & Traps, you’ll benefit from strategic advice and essential steps to maximize your wealth during the sale. It's a path that requires a team of professionals to navigate, ensuring you get the true value for your business while being prepared for both planned and unexpected opportunities. And it all starts with the right mindset. Mindset for Selling Before you can approach the undertaking of selling your business, you will want to understand your motivation for selling. What are the targets you want to achieve? What is your ideal outcome? Whether the intent is to…
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Economic Outlook for 2024

  Well, it looks like the economy is finally normalizing. So, the question now becomes "what's next for 2024?" I just got back from a fascinating luncheon at ACG Houston. ACG is the Association for Corporate Growth. We had an economist from First Horizon Bank in New York City speak to the group, and it was a very interesting presentation, one that I somewhat agreed with. Basically, they pointed out what we've talked about - inflation is pretty much under control. It's at 3% and falling. The job market has loosened up. We've gone from "you just can't find people" to "you can find them but they're a little bit expensive". So, that's at least manageable for most employers. A Goldilocks Economic Recovery The interest rate hikes are clearly over and there are some wild bets going on in the market over when and how low these long rates are…
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