Blog

Vision Boards: Not just for design

You have probably seen vision or mood boards in design studios or advertising agencies. Basically, a vision board can be anything you want it to be. If you’re looking to redesign your home, you may turn to a vision board to layout the kind of styles you like or the color pallet you’re going for. If you’re looking to write a book, you might put together a number of words, scenes or even photos of the types of settings you’re looking into. It might even include a timeline of events.

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Future Vision and Happy Exits - Part II

Last time, I wrote about the important role that SDI - or Seller Discretionary Income - plays in a happy, lucrative exit from your restoration business. In short, SDI takes a number of factors and calculates, reasonably accurately, projected income for your business over a certain time period. This is good for the you, the seller, because it gives you a very good idea of how to price your business and allows you to make strategic decisions on how you invest in it while you prep for sale. SDI is positive for the buyer because it allows them to see exactly what your business is worth and what they should be prepared to spend to acquire it.

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Understanding SDI - Sellers Discretionary Income

SDI is a big fancy way of saying discretionary cash flow. Basically, SDI are the pretax and pre-interest profits before you take out non-cash expenses, one owner’s benefits, one-time investments and other non-related income or expenses.

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Future Vision and Happy Exits - Part I

We all strive to have a happy, healthy family and work we find fulfilling. You’ve done your best to build this for yourself and your company reflects your work ethic. You’ve got a stable group of clients serviced by expert technicians that know they’re way around their equipment. You go to work every day and enjoy it. Helping your staff grow in their roles and feed their families. More importantly for your business, you help your consumers recover after disaster, whether it is man-made or natural.

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One Undeniable Way to Know it’s Time to Sell

I use the poker analogy a lot. I’m not actually big for table games, it’s just so apt every time I sit down to write one of these blog posts. Any kind of poker is a game of odds. The question is, are you willing to invest more in your hand then the other people around the table are in theirs. Do you believe that your hand is worth paying for?

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Four must ask questions for your business broker

So you’ve decided to sell your business. Good for you! It’s the right move for a lot of people especially if they’re getting burned out on the day to day bustle of running the shop. It’s time to reap what you’ve sown and enjoy your friends, family and sleeping in a bit. Maybe you’ve started shopping around for a business broker to help you sell your business. Selecting the right broker for you is no easy task. You want to ensure your broker is knowledgeable, considers your feelings, and works tirelessly to get you the best possible price. How do you know?

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Why is now the riskiest time to own your business?

A lot of people think that starting your own business is a risky venture. In one way, it is. You’re committing a whole heck of a lot of capital into something that isn’t completely fleshed out. It’s all relying on your expertise and hard work to get the business off the ground.

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The Biggest Mistake Owners Make When Selling

Selling your company is fraught with potential pitfalls. Understanding the value of your business and assets, reading the market and managing bids can be a difficult process, particularly for the unfamiliar. There is, however, one mistake that owners make when selling their business that accounts for the highest amount of lost sale proceeds; proprietary deals.

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Your Business is Worth More than You Think

When you’re on the ground, in the thick of running your business every day, you probably don’t give a whole heck of a lot of thought about how much it’s actually worth. Why would you? You’re busy taking care of clients, cleaning up homes and businesses and ensuring you’ve got happy employees. You’ve got enough going on.

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When is the best time to sell your restoration business?

As a business owner, you know that timing is everything. The faster you can get to a water damaged home or business, the easier your job will be and the better off your customer’s wallet will fair.

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