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1. Build a solid management team. A business with sales of $5 million and up needs a full complement of officers and directors. Such a team might include: a COO, a CFO, a sales manager and, depending on the of type business, an IT director. It is also beneficial to create a Board of Directors with at least two outside members. This professionalization of management can remove the stigma of “the one man band.” Not only...

24 July, 2021

We work closely with our clients to preserve the integrity of deals so that they have the best chance of a successful closing. An often-overlooked aspect of the process is understanding and embracing human psychology. In this article, we will explore some of the most common ways that psychology comes into play.  The Element of Time It is critical that both buyers and sellers feel well prepared at every stage of the process. It is also essential...

10 July, 2021

Albuquerque ranks #9 on the list for Women in Tech, according to a 2021 study conducted by SmartAsset. As tech opportunities migrate out of Silicone Valley, still considered the premier high-tech hub, women are enjoying increased options. "Women can seize tech opportunities in Virginia, Maryland, North Carolina, Colorado, Texas, Ohio, New Mexico, Florida, Pennsylvania, Arizona, Georgia and Washington D.C.," says SmartAsset. Women still face a large pay gap compared to what men make in this...

04 July, 2021

Both buyers and sellers have a lot of emotion wrapped up in their respective decisions. It’s completely natural to feel that way. Business Brokers and M&A Advisors can assist clients with their concerns and fears by giving them more information about how the sales process works and also discussing common pitfalls to avoid. In this article, we’ll go over some of the various issues impacting buyers. If you are able to anticipate potential issues that...

03 July, 2021

1. Not knowing what the business should sell for One of the most costly errors a business owner can make is not knowing the approximate price of his or her business prior to entering the selling process. Although the marketplace ultimately determines the final price, an owner needs to know what the approximate price his or her business is prior to placing the business on the market. Before making the decision to sell, owners should work...

26 June, 2021

If you are even thinking about selling your business, it’s important to know the questions that buyers generally want answers to. For example, the first question almost always asked by buyers is: If this is such a good business why is it for sale? How you answer this question can make or break a sale. A vague answer can discourage buyers from further consideration of your business, as they may assume the worst. If you say...

19 June, 2021

When the owner of a business makes the decision to sell, he or she is taking a giant step that involves the emotions as well as the marketplace, each with its own set of complexities. Those sellers who are tempted to undertake the transaction on their own should understand both the process and the emotional environment that this process is set against. The steps outlined below are just some of the items for a successful...

12 June, 2021

There is no doubt that the times are definitely changing. The COVID-19 pandemic has caused a shift across many industries, and the simple fact is that many industries will never return to the old normal. Success in the 21st century will require a good deal of adaptation and the ability to evaluate where you stand today and where you need to be tomorrow. Flexible Thinking One of the cornerstones of being successful in life and in business...

15 May, 2021

Angel Fire is opening for summer fun on May 14th. MTBParks.com recognized Angel Fire as the #1 bike park in the Southwest. Angel Fire maintains over 100 miles of downhill and cross-country green belt trails for all ability levels that also ties into the National Forest trail network, including the highly praised South Boundary Trail. The bike park will offer the longest season in its history, with 131 days of riding. Read more about its...

10 May, 2021

Not only is Albuquerque rife with fund things for families to do but its central location in the middle of the state makes it a convenient hub for exploring New Mexico's various outdoor amenities and National Monuments. Conde Nast cites it as one of the best family vacation spots throughout the year.  "[T]here’s something to suit every preference. And Albuquerque, with its easy access to national parks like White Sands and Carlsbad Caverns, and unmatched...

10 May, 2021

There can be no doubt that selling your business stands as one of the most complex and important decisions you’ll likely ever make. It is quite often the case that a business represents decades, or even a lifetime, of dedicated work. In this article, we’ll examine some of the key steps that you should take when it comes time to sell. One of the most important steps that any seller can take is to begin the...

08 May, 2021

According to an October 16, 2020 article in Insider, 83% of respondents to Airbnb's survey entitled "How Airbnb and Travelers are Redefining Travel in 2021," are in favor of relocating as part of remote working, and a quarter believe they'll be able to "live where they want to and work remotely." Only one in five surveyed has permanently or temporarily relocated due to the pandemic. Rather, many more are using Airbnb rentals to try the...

06 May, 2021

Taos made TravelAwaits' 2020 list of 7 Magical U.S. Towns to Visit During Christmas, and recommends attending mass at The San Francisco De Asis Mission Church to get a feel for northern New Mexico's history and culture. A National Historic Monument, San Francisco de Asis was constructed of mud and straw sun-dried adobe bricks in the early 1800s and is one of Taos' few original buildings still standing. "[It} s is a living testament to...

05 May, 2021

New Mexico's capital Santa Fe ranked #14 among Your Tango's 18 picks for U.S. Cities with the most European feel. (#14 . . . . really?!)  The online lifestyle guide wrote: "Spanish explorers and then Spanish colonial settlers were traveling to and establishing “La Villa Real de la Santa Fe de San Francisco de Asis” (or what is known as modern day Santa Fe, New Mexico) back in 1610. This Spanish/European influence meshed with local Native...

02 May, 2021