Liquidating your Business Assets Can be an Efficient and Prudent Exit Strategy
In today’s dynamic business environment you’re either Growing or Going…out of business that is! If you’re part of the latter contingent and have made the decision to get out of a business but are unable to transition your business internally or sell it as an intact entity, full or partial liquidation of assets may be an appropriate exit strategy. Asset liquidation can provide quick cash and assist in diversifying equity. However, before you terminate your lease, sell a key piece of equipment, or disconnect your utilities, make sure you have a well-thought-out plan.
Getting out of business successfully requires careful planning from start to finish. If you are looking at asset liquidation as a part of your exit strategy, consider incorporating the following recommendations into your plan to increase your chances for success.
1. Talk to your lawyer and accountant.
2. Establish the liquidation value of your assets; remember liquidation vs. retail value can differ substantially.
3. Identify the best venue and timetable to sell your assets.
4. Arrange the sale at the most appropriate location with an expert.
5. Use a non-recourse bill of sale.
Understanding and incorporating these steps into your exit plan will not only help you recover as much money as possible, they may also help you achieve the freedom needed to pursue new endeavors.
It is important to note that the recommendations discussed above are intended to serve as a general overview to assist with the asset liquidation process. It is not a substitute for case-specific advice that only your lawyer and/or accountant can provide. Also, depending on the situation and necessity of business divesture, the cooperation of creditors may need to be considered. Cover your bases and talk to the experts before liquidating any assets that may be in question.
Real Estate Investing (5 Ways to Profit)
Real Estate Investing in today market is a great way to develop monthly Cash flow rather it be though rental or creating lump of cash by buying and Selling of real estate.
There is lot of opportunity because of the housing slump for investors to create wealth, if they have the proper knowledge and contact.
Here is five ways to profit in real estate.
Education
Nothing is better than having the proper knowledge about what you are doing especially when investing in real estate. Getting the right education sometime can cost a lot of money as you try to put together the pieces of the real estate investing puzzle together and learning the difference investing strategy.
Example You know of a couple who is interest in buying a home, they been on their job for about six years and have about $6,000 in saving. But can not qualify for a loan because of credit issues they said that the loan officer told them to pay off some debt and they could qualify in about a year, as you continue to talk with the potential buyers asking what type of home, what area and where they wanted their monthly payment, you tell the buyers that you would find a home and place them on a program that would allow them to move in while they work on their credit, after locating a property that fit the buyers and negotiating a deal, you meet with the buyers show them the home and explain the terms, purchase price, down payment, monthly payment, and financing period, draw up the purchase agreement and necessary forms, have the buyers to sign, get the down payment and close the transaction. If you did not have the proper knowledge you would have let the buyer wait a year, or some other investor with the knowledge services them.
Keeping Your Business Healthy – Follow Your Doctor's Advice!
Business owners can learn a key strategy to their business’ health from medical professionals. The message from doctors and pharmacists has been the same for decades – Finish your prescribed medicine! A medicinal campaign is prescribed to a person to help what ails them, and to keep them healthy and living. The failure to finish out the medicinal campaign can lead to further health problems, and in more serious situations, the death of the patient.
Business owners should follow this same rule when applied to their marketing campaigns. Too often a business owner dabbles a little here and a little there, not following a solid plan that will keep their business healthy and thriving.
Your marketing plan is to the health of your business as the medicine your doctor prescribes is to your personal health. Start to think of your marketing campaign as medicine to help keep your business healthy.
Imagine a person with a heart issue, one that can become very serious if the person does not follow their medicinal campaign on a regular basis. As long as they follow the strategy developed by the doctor, they can continue to maintain their desired lifestyle and do things they enjoy. Most likely, that person is going to ensure that they follow their doctor’s strategy, because they understand that failure to do so could put their health at risk.
Intelligent people understand the risks of not fully completing the prescribed doses of an antibacterial medicine. Failure to finish the medicine as directed can lead to further, and more serious illnesses. Yet, many intelligent business owners do not follow this same direction when it comes to their marketing plans and campaigns.