One of our senior Brian Trust members, Russell talks with Jim about some of the issue you need to address to have a successful succession plan for your business. The discussion includes how to make an intelligent transition from one owner and management team to the next logical one, whether that be to a child, or an arm's length buyer.

Russell joins Jim to talk about succession planning for your small business. Succession planning is not just for owners who are ready to retire. Jim and Russ talk about some of the things EVERY closely held business should be thinking about, regardless of the age of the owners.

Russell and Jim discuss how to structure a successful business sale. The guys walk you through the steps of organizing the sale after the Letter Of Intent is in place, the due diligence is done, and you are in the final negotiations that will determine exactly how the sale is to be structured, including the price, terms, and contract documents.

Russ and Jim continue their series on business valuation methods. During this visit they talk about how to "recast" or "reconstruct" the financial statement of the business being sold, and the tension between maximizing tax advantages while operating the business, and maximizing the value to a potential purchaser.

Russ and Jim continue the series they have been conduct on various methods of valuing a business. During this visit the discussion is about how to use the Capitalization Method.

One of a series of discussions between Jim and Russ on business valuations, this archive covers the Market Approach and the Income Approach to buying or selling a business.

One of a series of discussions between Jim and Russ on business valuations, this archive covers the Asset Valuation Approach to buying or selling a business.

Russ and Jim discuss various "Rules Of Thumb" that can be used when buying or selling a business.

Jim and Russ discuss the advantages of buying an existing business, and the benefits and steps in getting seller financing.

Russ and Jim discuss the importance of a Letter Of Intent (LOI) in the process of buying and selling a business, the components of an LOI, and how to prepare one.