David C. Barnett

Highly technical service or consulting businesses like a big engineering firm or architecture firm or something. People do business with that firm because they have relationships with the owners. So if you own a business like that and you want to sell, don't be surprised when part of the deal is that you stick around and work there for years.

Highly technical service or consulting businesses like a big engineering firm or architecture firm or something. People do business with that firm because they have relationships with the owners. So if you own a business like that and you want to sell, don't be surprised when part of the deal is that you stick around and work there for years.

Because the buyer wants you to be there to transfer the goodwill of those relationships over to the new team. And so that's got to be something that's worked on. Either you work on it today and get your customers used to dealing with employees, or you're going to work on it after you're no longer the owner. And it's going to affect the value.

Because the buyer wants you to be there to transfer the goodwill of those relationships over to the new team. And so that's got to be something that's worked on. Either you work on it today and get your customers used to dealing with employees, or you're going to work on it after you're no longer the owner. And it's going to affect the value.

Because the buyer wants you to be there to transfer the goodwill of those relationships over to the new team. And so that's got to be something that's worked on. Either you work on it today and get your customers used to dealing with employees, or you're going to work on it after you're no longer the owner. And it's going to affect the value.

Another common issue would be people that are cruising or sliding towards their exit, where they take their foot off the gas and they try to maximize the cash flow by ignoring or deferring maintenance and capital expenditures.

Another common issue would be people that are cruising or sliding towards their exit, where they take their foot off the gas and they try to maximize the cash flow by ignoring or deferring maintenance and capital expenditures.

Another common issue would be people that are cruising or sliding towards their exit, where they take their foot off the gas and they try to maximize the cash flow by ignoring or deferring maintenance and capital expenditures.

So if you're planning on selling your business in five years time and all of your trucks are five years old, don't think you're going to get top dollar if you're trying to sell it with a bunch of 10 year old trucks. Denn jeder Verkäufer wird sich das anschauen und sagen, wenn ich dieses Unternehmen kaufe, muss ich ein paar Autos kaufen.

So if you're planning on selling your business in five years time and all of your trucks are five years old, don't think you're going to get top dollar if you're trying to sell it with a bunch of 10 year old trucks. Denn jeder Verkäufer wird sich das anschauen und sagen, wenn ich dieses Unternehmen kaufe, muss ich ein paar Autos kaufen.

So if you're planning on selling your business in five years time and all of your trucks are five years old, don't think you're going to get top dollar if you're trying to sell it with a bunch of 10 year old trucks. Denn jeder Verkäufer wird sich das anschauen und sagen, wenn ich dieses Unternehmen kaufe, muss ich ein paar Autos kaufen.

Also muss man das Unternehmen operieren, als ob man es nicht verkauft. Man muss normale Arbeitsbedingungen haben. Man muss Dinge per normal reparieren und verändern. Es ist auch einer der Fehler, die Verkäufer machen, weil... Depreciation and amortization get added back in this process of creating EBITDA or seller's discretionary earnings.

Also muss man das Unternehmen operieren, als ob man es nicht verkauft. Man muss normale Arbeitsbedingungen haben. Man muss Dinge per normal reparieren und verändern. Es ist auch einer der Fehler, die Verkäufer machen, weil... Depreciation and amortization get added back in this process of creating EBITDA or seller's discretionary earnings.

Also muss man das Unternehmen operieren, als ob man es nicht verkauft. Man muss normale Arbeitsbedingungen haben. Man muss Dinge per normal reparieren und verändern. Es ist auch einer der Fehler, die Verkäufer machen, weil... Depreciation and amortization get added back in this process of creating EBITDA or seller's discretionary earnings.

And those two things are how accountants recognize stuff wearing out over time. And so if you don't realize this as a buyer, you could end up in a situation where part of your cash flow you think you're going to get is actually going to go into capital expenditures. So CapEx is a big thing. As a seller, you want to make sure you keep up your stuff. Manage inventory properly.

And those two things are how accountants recognize stuff wearing out over time. And so if you don't realize this as a buyer, you could end up in a situation where part of your cash flow you think you're going to get is actually going to go into capital expenditures. So CapEx is a big thing. As a seller, you want to make sure you keep up your stuff. Manage inventory properly.

And those two things are how accountants recognize stuff wearing out over time. And so if you don't realize this as a buyer, you could end up in a situation where part of your cash flow you think you're going to get is actually going to go into capital expenditures. So CapEx is a big thing. As a seller, you want to make sure you keep up your stuff. Manage inventory properly.

So if your business has an inventory, number one, count it. Your accountant is going to want you to count it every year so you can file proper tax returns. Depending on the type of business you have, that may not be enough. You want to count it often enough that you actually create information that allows you to manage the business.

So if your business has an inventory, number one, count it. Your accountant is going to want you to count it every year so you can file proper tax returns. Depending on the type of business you have, that may not be enough. You want to count it often enough that you actually create information that allows you to manage the business.

So if your business has an inventory, number one, count it. Your accountant is going to want you to count it every year so you can file proper tax returns. Depending on the type of business you have, that may not be enough. You want to count it often enough that you actually create information that allows you to manage the business.