Selling Your Business: How to Overcome Five Costly Fears

Planning your exit from your business can feel at times like planning your will. Why do it today when you can do it tomorrow? After all, you are not planning on leaving this earth today, right?

Your exit from your company, however, is assured. Whether you leave it feet first or walk through the door, you will leave your company someday. Why not do it on your terms?

Unfortunately, while even the most procrastinating business owners will eventually complete their will, only 10 percent plan their exits. As a result, only 10 percent of business owners get their desired selling price, which could be devastating given that a company could account for as much as 90 percent of an owner’s personal wealth and be their primary source of retirement funds.

Selling Your Business: How to Overcome Five Costly Fears

Planning your exit from your business can feel at times like planning your will. Why do it today when you can do it tomorrow? After all, you are not planning on leaving this earth today, right?

Your exit from your company, however, is assured. Whether you leave it feet first or walk through the door, you will leave your company someday. Why not do it on your terms?

Unfortunately, while even the most procrastinating business owners will eventually complete their will, only 10 percent plan their exits. As a result, only 10 percent of business owners get their desired selling price, which could be devastating given that a company could account for as much as 90 percent of an owner’s personal wealth and be their primary source of retirement funds.

Sell Your Business Without Regrets

“Now what?”

Consider FDOT Reimbursement Rate in End of Year Decisions

The year is almost done. Do you know your FDOT reimbursement rate?

Knowing what your rate is for the year so far and projecting results for the remaining months of the year will allow you to:

  • Propose and bid more wisely

  • Prioritize spending

  • Adjust executive compensation

Estimating your FDOT reimbursement rate for the full year will help you make decisions based on whether you can be reimbursed under contracts. Overlooking opportunities to become fully reimbursable for costs or improperly allocating expenses could cost you reimbursements and profits.

The Right Way to Exit: How to Transition on Your Terms

As a business owner, you are accustomed to, and perhaps even thrive upon, solving today’s pressing problems and pushing on to tomorrow. But have you looked beyond this week, this month, or even this year?

The average owner spends 80,000 hours building their company but only six hours planning its transfer. As a result, 80 percent of business owners fail to get top dollar when they sell.

Just as winning the lottery is not a vible strategy for achieving your dreams, nor is hoping to sell your business for enough money to support your future lifestyle. That is like winning a free lottery ticket on a drawing for a $1 million jackpot. They won, but they missed a much larger prize.

Preparing for an FDOT Reimbursement Rate Audit - Management's Responsibilities

Engineering firms must provide annual reimbursement rate audit reports to the Florida Department of Transportation to bid on contracts larger than $500,000. 

FDOT Reimbursement Rate Audit Guidelines contain specific Departmental requirements in addition to the general guidelines contained in the American Association of State Highway and Transportation Officials (AASHTO) Uniform Audit and Accounting Guide.

How to Comply with FDOT Job Cost Accounting System Requirements

The Florida Department of Transportation requires consultants requesting professional services prequalification at the unlimited level (greater than $500,000 in fees) to certify the establishment of an accounting system that separates and accumulates direct and indirect costs, and identifies and records labor charges and expenditures for specific projects or jobs.

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Selling Your Business: How to Overcome Five Costly Fears

Planning your exit from your business can feel at times like planning your will. Why do it today when you can do it tomorrow? After all, you are not p...

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Sell Your Business Without Regrets

“Now what?” It’s a simple question but it is not always easy for an entrepreneur to answer when selling their business. You invest so much of yourself...

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Consider FDOT Reimbursement Rate in End of Year Decisions

The year is almost done. Do you know your FDOT reimbursement rate? Knowing what your rate is for the year so far and projecting results for the remain...

Read more

The Right Way to Exit: How to Transition on Your Terms

As a business owner, you are accustomed to, and perhaps even thrive upon, solving today’s pressing problems and pushing on to tomorrow. But have you l...

Read more