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When you are selling a business, your business broker or M&A Advisor will likely create a Comprehensive Business Review, or CBR.  This comprehensive document can then be presented to prospective buyers once they have signed all necessary confidentiality documentation.  It is essential that this document builds trust between both parties, as this will go a long way towards achieving a successful deal.  Be Honest The bottom line is that your CBR will be 95% positive.  The majority...

01 September, 2020

As businesses re-open offices and welcome employees back from working from home, office safety is a huge concern for many business owners and HR leaders. The U.S. Chamber of Commerce suggests these 10 practical and actionable ideas on how offices can adapt to the coronavirus era. Capacity signage Social distancing can be challenging in offices that previously packed in workers. Custom-made capacity signs can help control how many people are in various spaces. Offices may have had...

28 August, 2020

"With the idea that essential businesses can be recession-proof and even boom during a public crisis, buying one is becoming a more attractive prospect," says franchise expert Chris Buitron in a recent Milwaukee Community Journal article. The thought piece, “4 Factors To Consider Before Buying An Essential Business In COVID Times,” discusses a rising interest among buyers in essential businesses. The COVID-19 pandemic has many buyers rethinking what type of business they might want to own, often...

24 August, 2020

Do you like dogs? Do you like happiness? Then, boy oh good boi, do we have a business opportunity for you! This  state-of-the-art Doggie Daycare has a delightful mission: to increase the amount of joy in the world by helping dogs stay healthy and happy—and ­­better able to support us. For many animal-lovers, the idea of spending their days interacting with dogs and the people who love them can seem like the stuff of fantasy. This business...

21 August, 2020

A recent white paper by Deloitte explores strengths intrinsic to family business that may give these enterprises a relative advantage during this unusual year. Interestingly, the subject of business culture is once again comes into focus. "Alongside the millions of healthcare professionals and volunteers, some family businesses are being branded as 'heroes' by their local and national communities in the current crisis," the paper states. "This often comes down to the family values that have...

19 August, 2020

There is a potentially lucrative group of buyers that many sellers don’t initially think about.  We are talking about foreign buyers.  While there are some hurdles to working with these types of buyers, it is important to note that there are many huge advantages as well.  Let’s take a closer look. How Are Foreign Buyers Different?  At the top of the list of ways in which foreign buyers are different is that they are often seeking a...

15 August, 2020

Vendor relations are important, and this is probably even more true in a year with supply chain disruptions and budget adjustments. As many businesses are looking for ways to save money, many vendors are hoping to hold on to clients. It might be a good time to talk about wiggle room. "Suppliers and service providers are often open to negotiating their 'standard' prices if you ask, and doing so can help your business get the...

13 August, 2020

The Innovation Group at University of New Mexico's Anderson School of Management offers a program this Fall to "help New Mexico’s businesses respond to the management challenges of the new COVID-19 low-touch economy," according to a recent UNM post.  Teams of students can be tagged in to assist with a variety of challenges, including: Analyzing firms’ financial performance and plans Commercializing technology products and services Improving project management processes and plans Managing technology-related operations Writing...

10 August, 2020

A popular article on LinkedIn this week addresses career change. Personal growth sometimes requires new challenges. "There often comes a point in your career where it’s time to re-evaluate. Things change. You change," writes  business podcaster Jessi Hempel.  "How do you screw up the courage to leave the safety and security of the subject you’ve mastered and start something new?" To examine this question, Hempel interviews Robin Arzon. Arzon left a secure career as a...

05 August, 2020

[caption id="attachment_978513" align="alignleft" width="300"] Santa Fe Business Incubator public kick-off event via Zoom for Runway Program[/caption] New Grant Awards Announced Supporting 11 Economic Development Projects & 3 Solo-Entrepreneur Programs The New Mexico Economic Development Department has announced the recipients of this year’s LEADS grants, as well as three organizations that will split $75,000 for their programs supporting entrepreneurs working from home, Cabinet Secretary Alicia J. Keyes announced today. The Local Economic Assistance & Development Support Program (LEADS) supports...

04 August, 2020

The buyer-seller meeting is quite often a “make or break” meeting.  Your business broker or M&A Advisor will do everything possible to ensure that this meeting goes as well as possible.  It is vitally important to realize that rarely is there an offer before buyers and sellers actually meet.  The all-important offer usually comes directly after this all-important meeting.  As a result, you want to ensure that meetings are as positive and productive as possible. Buyers need...

31 July, 2020

New Mexico made multiple Top 10 lists in site selector Business Facilities' 16th Annual State Rankings Report. The Land of Enchantment is also the Land of Fantastic: Workforce Development/Talent Attraction (Number 9) Film Production Leaders (Number 2) Unmanned Aerial Systems (Number 9) Electricity Generation (Number 8) New Mexico's Job Training Incentive Program (JTIP) is one of the most generous in the country. NM JTIP funds classroom and on-the-job training, supporting newly-created jobs in expanding and relocating businesses. ...

30 July, 2020

The main street lending program has gotten less attention than other areas of the government's pandemic response and support for businesses. However, depending on your business' financial state and needs, it can be a powerful tool. The main street lending program was designed for businesses that were financially sound prior to the pandemic. The minimum loan amount is $250,000, lowered in June from the an initial $500,000 minimum to allow more small to medium-sized businesses to...

28 July, 2020

Preparing to sell your business can be scary. Here's something you've worked so hard to build and grow. Of course you want to know it will be continue to thrive beyond your time at the helm. You also want to be sure you get what you deserve for all your vision and effort. To maximize the value and sellability of your business, we suggest you consider and address these eight factors. Strong preparation will set...

28 July, 2020

"What impact has working from home had on productivity and creativity?” A recent study conducted by researchers from Harvard Business School, MIT Media Lab, and McCombs School of Business at the University of Texas at Austin explored this question with more data than has historically been available. The Study The researchers state: "We decided to explore how employees have fared since they began working virtually. To that end, we started surveying a diverse group of more than...

24 July, 2020