10 Questions Everyone Should Ask Before Signing on the Dotted Line

Before buying any business, a seller must ask questions, lots of questions.  If there is ever a time where one should not be shy, it is when buying a business.  In a recent article from Entrepreneur magazine entitled, “10 Questions You Must Ask Before Buying a Business”, author Jan Porter explores 10 of the single most important questions prospective buyers should be asking before signing on the dotted line.   She points out to remember that “there are no stupid questions.” The first question highlighted in this article is “What are your biggest challenges right now?”  The fact is this is one of the single most prudent questions one could ask.  If you want to reduce potential surprises, then ask this question. “What would you have done differently?” is another question that can lead to great insights.  Every business owner should be an expert regarding his or her own business.  It only makes sense to tap into that expertise when one has the opportunity.  The answers to this question … [Read more...]

A Step by Step Overview of the First Time Buyer Process

A recent article on Businessbroker.net entitled, First Time Buyer Processes by business broker Pat Jones explores the process of buying a business in a precise step-by-step fashion.  Jones notes that there are many reasons that people buy businesses including the desire to be one’s own boss.  However, he is also quick to point out that buyers should refrain from buying a business that they simply don’t like.  In the quest for profits, many prospective owners may opt to do this, but it could ultimately lead to failure. Step One – Information Gathering For Jones, there are seven steps in the business buying process.  At the top of the list is to gather information on businesses so that one has an idea of what kind of businesses are appealing. Step Two – Your Broker The second key step is to begin working with a business broker.  This point makes tremendous sense; after all, those new to the business buying process will benefit greatly from working with a guide with so much … [Read more...]

LISITEN ASSOCIATES Receives 2016 Best of Manhattan Award

  Press Release FOR IMMEDIATE RELEASE MARCH 2, 2016 LISITEN ASSOCIATES Receives 2016 Best of Manhattan Award Manhattan Award Program Honors the Achievement MANHATTAN March 2, 2016 -- LISITEN ASSOCIATES has been selected for the 2016 Best of Manhattan Award in the Business Brokers category by the Manhattan Award Program. Each year, the Manhattan Award Program identifies companies that we believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and our community. These exceptional companies help make the Manhattan area a great place to live, work and play. Various sources of information were gathered and analyzed to choose the winners in each category. The 2014 Manhattan Award Program focuses on quality, not quantity. Winners are determined based on the information gathered both internally by the Manhattan … [Read more...]

EXIT PLANNING; is it worth my time? ABSOLUTELY!

The exit planning process is a great thing to do especially if you are contemplating leaving your business in the next few years. There are a number of reasons to think long and hard about an exit strategy however, the most important reason of all is to maximize the value of your business. As business brokers we see TONS of Owners leave a lot of wealth on the table when they exit their companies for one simple reason: Lack of Preparation!! Many Owners have spent decades and maybe even a lifetime building your business into what it is today. You Deserve to get Top-­‐Dollar. Transitioning from your company will definitely be one of the most important and complex decisions you will EVER make. It is so disheartening when an owner has to pay double the amount of taxes that he would have had to pay had he planned better. Even worse is when there is a profitable business that looks fantastic on paper but carries no value to a buyer and is never sold. ALL of this can be avoided! There are … [Read more...]