When it comes time to sell your business, there are only three potential scenarios for agreeing on a final price:

  • The buyer is better informed than the seller and buys the company cheaply
  • The seller is better informed than the buyer and…

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The role that new businesses play in the success of our economy cannot be overstated. According to a recent study by the Kauffman Foundation, job growth in the U.S. is entirely driven by new companies. Using data from the Business Dynamics Statistics, a dataset compiled by the U.S. Census Bureau, the Kauffman Foundation analyzed both new companies—defined as those in business less than a year—and existing companies from 1977 through 2005. In all but seven of those 28 years, existing companies destroyed jobs while new companies created jobs.

Go to the full article: Give Your Startup An Edge With Startup Open

My friend Eric* has a problem that many business owners face. He has been running his small business profitably for over five years. He hasn’t achieved much growth on an annualized basis but the company generates sufficient cash flow to give him a comfortable standard of living, keep his eight employees happy and fulfill his customers’ requests. He has what is commonly known as a “lifestyle business.”

Go to the full article:  Should You Scale Your Business?