Author Archives: Russ Allred
A business broker’s job is to bring a willing buyer to a willing seller and draft a deal that benefits them both. A typical deal, with SBA financing requires that the seller carry some paper, ensuring ongoing oversight for the new and inexperienced buyer. A cooperative working relationship is
The Invisible Benefits of Policies and Procedures Many entrepreneurs balk at the thought of writing a policy manual. In most cases, the entrepreneur makes all the decisions so policies and procedures seem to inhibit more than help. The owner-operator fails to see that the lack of rules is keepin
“This place is fantastic. I think everyone should come here.” An incredible statement from a convicted executive about his new home at the Federal Prison in Taft California. When the 67 year old arrived at the institution, he hobbled in with the use of a cane. The stress of his arrest an
Meet my buddy ROI. ROI should be your friend too. ROI compares the money you earn to the money you invested. Very few entrepreneurs spend much time thinking about ROI, but that is a big mistake. ROI is a jealous fellow, always comparing himself to other potential friends. Also known
You bought a business with the intent to increase the one you had. The acquisition of a complimentary business is the most efficient way of growing your income and equity. Theoretically you can increase sales and reduce administrative costs. In reality, integrating a new business will b
javascript: void(0)Don’t strain at the business cha cha changes. David Bowie sang Changes, a ballad about how everything evolves, though we refuse to see the changes in ourselves. Because the passing of time alters a business, it is appropriate to review your founding documents before they cause y
While writing The Family Business, our first book, we engaged Michael Larsen of the Larsen Pomada Literary Agency in San Francisco to represent us. Michael guided us to produce a book proposal which he used to pitch us to major publishers in New York. As he reviewed our proposal he would often ask,
The swing shift can be an exhausting occupation. Some say you get accustomed to it, but it’s not natural for the body to stay up all night, days in a row, and then shift to day work. At least working nights brings premium pay. Entrepreneurs leave eight-hour shifts behind and replace them with 24/7
Only 30% of businesses survive the owner and 67% of business owners fail to plan for succession. Most businesses don’t survive because the owners never intended to pass them on. The owners who want their business to continue often avoid planning for succession, the way most people avoid writin