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Nebraska Business Development Center Overview
NBDC is a hidden treasure to many Nebraska business owners according to Odee Ingersoll, Director of the Nebraska Business Development Center at the University of Nebraska at Kearney. NBDC is a one-stop shop for new, expanding and exiting business owners. Most services are free and include services such as loan packaging, premium market research, and business planning. Fee-based premium services include business valuations, manufacturing efficiency, and exit strategies. Read more
Exit Planning – Purchasing Options
Are you looking to sell or buy a business? Even though the buyer may not have the 20% down payment, there are options available to get the deal done. Odee Ingersoll, Director of the Nebraska Business Development Center at the University of Nebraska at Kearney details an exit planning strategy that allows buyers to get into the business. Valuation experts look at the value of the business and the cash flow it produces. They also conduct an appraisal to determine the fair market value of the business. The objective is to get the buyer a 30 – 40% ownership in the company quickly. Ownership is then discounted and used as leverage to finance the remaining amount of the business. 2 of 3 exit planning videos. (http://www.nbdcunk.com)View Video
Exit Planning – Selling Strategies
Prepare for the end game and get the most out of your business investment. Odee Ingersoll, Director of the Nebraska Business Development Center at the University of Nebraska at Kearney, encourages business owners to prepare their exit strategy. This will increase their business value, help them find potential buyers and make a quicker sell. About three years out, owners need to develop internal processes that show potential buyers and lenders the value of the business. The goal is to strategically sell the business at the highest value rather than letting the general market determine the value of the business. 1 of 3 videos. (http://www.nbdcunk.com)View Video
What To Do When Things Don’t Work
Career counselors, Larry Humberstone and Pam Gunderson of PJ Lawrence and Associates (Omaha, NE) talks about the tender subject of a failing business. If things are not going well, the first step is to go back to the original vision, revisit the plan and conduct a good self-assessment. Look at the business from the client’s perspective. Do you have the correct image and message? One solution is to increase networking and marketing activities. Assess the referrals and discover where customers are getting information about the business. Work your brand and be authentic to that brand. (http://pjlawrenceassociates.com) View Video
Insights into How to Effectively Exit Your Business
Nicholas Niemann, Attorney at Law from McGrath North (hyperlink http://www.mcgrathnorth.com) highlights a few mistakes that business owners do when preparing for their business exit. Chris Best, Business Appraiser and owner of Best Business Appraisals, LLC (hyperlink: http://www.bestbusinessappraisels.com) highlights some critical issues to business valuation, such the different exit channels. Another key to successful exit planning is finding the correct professional. Nicholas and Chris make suggestions on what to look for in a professional. McGrath North (http://www.mcgrathnorth.com) and Best Business Appraisals (http://www.bestbusinessappraisals.com). View Video
Steps to Business Exiting and Valuations
Two guests, Nicholas Niemann, Attorney at Law from McGrath North (hyperlink http://www.mcgrathnorth.com) and Chris Best, Business Appraiser and owner of Best Business Appraisals, LLC (hyperlink: http://www.bestbusinessappraisels.com) discuss options for selling and valuing a business prior to exiting the business. Nicholas outlines a five-step process to plan for the transition. Chris provides insight into the different considerations on how a business may be valued. McGrath North (http://www.mcgrathnorth.com) and Best Business Appraisals (http://www.bestbusinessappraisals.com). View Video
