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“How to Sell a Business” – Explaining the Meaning of Our New Logo

As the author of the following three websites, I wanted to unify the sites with a logo.

I noodled it for a long time.  Eventually, I decided the unifying theme of the three websites was “How to Sell a Business” and I needed a logo to communicate the complexity of selling a business.  That was a big breakthrough that led to the development of this logo:

How to Sell a Business logo

 

 

Selling a business is a complex process

So, how does the logo communicate “how to sell a business”?  Well, selling a business is a complex process that requires a plan.  The jigsaw puzzle communicates complexity.  Why the cube?  My thoughts were that folks might think of Rubik’s cube, which is even more complex.  At any rate, it would seem that a jigsaw puzzle cube is more complex than a flat jigsaw puzzle.

Did you notice that the cube leans forward so you can see its white square top?  That’s an intentional effort to make the top look like a checkbox.  Hopefully the checkmark reinforces the concept of a checkbox.   Again, because learning “how to sell a business” is a process that requires a lot of planning, there are numerous checklists of actions that should be accomplished along the way to successfully selling a business.

 

The colors behind “how to sell a business”

What about the colors?  How do they relate to “how to sell a business”?  Well, as I was thinking about a logo, I saw a public company’s new logo which I really liked and read about the meanings of their colors (purple and green).  That made me research the original colors of the How to Plan and Sell a Business website which was blue and green.  For blue, I was unable to find much that seemed applicable.  But, I discovered purple is associated with royalty – symbolizing power, nobility, luxury, and ambition.  Purple also communicates wealth and extravagance and is associated with independence, creativity, wisdom and dignity.  There couldn’t be a better description of the entrepreneurial aspects and rewards of owning a business.  In fact, I view business owners as royalty.  And a successful business sale can provide luxury and independence, two of the attributes of purple.  Of course, green conveys money and safety, both appropriate to the successful sale of a business.

So, we changed the How to  Plan and Sell a Business website to purple and green. We also renamed the free 90-issue newsletter series to “How to Sell a Business”.  I addition, Jim Stauder’s Business Exit Planning Blog was redesigned to accommodate the purple and green colors and the Biz Owner Advisors website was developed to the purple and green specifications.

Each website now incorporates the new logo and an additional checkmark within the lettering to form a part of a letter within the logo copy.  The additional checkmark helps to reinforce the concept of using checklists when learning “how to sell a business.”

 

Here are the three logos:

How to Plan and Sell a Business logo

final_logo_BOA cropped
 

Jim Stauder's Business Exit Planning Blog logo

 

What are your thoughts?  Do you like the logos?  Leave your comments below.

 

My intention is to begin blogging on a regular basis.  If you like this post, consider subscribing to this blog in the upper right corner to receive notifications whenever new articles are posted.

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Business Brokers Should Know SBA 7a Loan Business Acquisition Criteria

Business Brokers Should Know SBA 7a Loan Business Acquisition Criteria

On his blog posting dated 2/18/13, Josh Patrick wrote an article titled “Why Selling Your Small Business Is A Risky Affair”, which addressed the perils of seller financing. Josh (@AskJoshPatrick) and I (@jlstauder) exchanged 8 tweets in response to his article. The essence of my response tweets were that sellers can reduce seller financing by working with brokers who are very familiar with SBA financing. Josh doubts there are many brokers who provide significant help to buyers in pursuit of SBA financing. I hope he is wrong.

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An estimated $3 trillion dollars will be “left on the table” by small business owners due to failure to plan their business exits

Business Brokers Should Know SBA 7a Loan Business Acquisition Criteria

My previous blog posting, Reconstructing Avery’s $10.4 Trillion in Business Transfers, details the assumptions and calculations supporting my estimate that the total business valuation for small businesses (which I define as 49 or less employees) is just short of $4 trillion dollars ($3.775 trillion based on my calculations).  That valuation number assumes all small business owners do whatever is necessary to prepare to have a saleable business.  We all know that is not the case.  In fact, an ROCG study of 502 respondents with revenues between $1 million and $100 million found that only 9% had a formal, written transition/succession plan.  For the businesses that interest me – 49 employees or less, I’d guess the existence of formal exit plans may be under 5%, possibly closer to 1%.

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Reconstructing Avery’s $10.4 Trillion in Business Transfers

Business Brokers Should Know SBA 7a Loan Business Acquisition Criteria

In an extensively quoted 2006 report titled: “The Ten Trillion Dollar Question: A Philanthropic Gameplan”, Robert Avery, an economist and demographer of Cornell University, allegedly estimated that $10.4 trillion of net worth will be transferred by the year 2040 by baby boomers. He is also quoted as indicating the majority of boomer wealth is held in 12 million privately owned businesses. I say “allegedly” because I have tried in vain to find the report by Avery online. However, that $10.4 trillion aspect of the report is quoted extensively by numerous sources online.

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ATTN! Business Owners: Only 25% of businesses ever sell (How can we spread the news?)

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Attention, can I have your attention please? Business owners, please – your attention, please. Testing 1, 2, 3. Can you hear me? Hello, anybody out there listening? I have an important message to deliver. Please, can I have your attention?

Business owners: whether you can hear me or not, here’s my message:

Only 25% of small businesses ever sell! If you are like the “typical” business owner, you believe that 50-90% of your personal net worth is in the value of your business. But, 75% of you are not going to succeed in monetizing that portion of your net worth!

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My Dream for Obama’s State of the Union Address (re: taxes on business sales)

tax_text_pie_graph_1843(Note: I encourage you to read the previous posting in this blog to understand the full context of the implications of Taxmageddon on business sales before reading this posting. As stated in the previous posting, I did not start this blog to comment on current affairs. The need for exit planning is timeless and, for the most part, the need to plan for a business sale is not dependent on what’s happening currently. So this will be an unusual type of posting for this blog.)

A prequel (dream) excerpt of President Obama’s State of the Union Address:

“We all recognize that small business drives our economy. Small business owners create 70% of all jobs in our national economy. I was recently provided with astounding research that indicates there are approximately 7 million baby boomer business owners, yet only 20-25% of small businesses ever sell. I’ve been informed that the onerous tax implications of a business sale are one of the major reasons that elderly business owners never transfer their business. We cannot allow 75-80% of businesses to wither away.

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Taxmagedon’s Affect on Small Business Sales

tax_text_pie_graph_1843I didn’t really establish this blog to talk about current affairs such as Taxmageddon. The need for exit planning is timeless and, for the most part, the need to plan for a business sale is not dependent on what’s happening currently. Current affairs do affect the details of exit planning, but not the necessity of exit planning. So, from a content standpoint, this will be an unusual posting and much longer than what you will see here in the future.

In my public accounting career, I learned the tax regulations have more exceptions to rules than rules themselves. I was not interested in being an attorney or providing tax advice because I found it to be so tedious and boring. So, I stuck to the audit side of the business.

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Why I’ve Decided to Blog – 75% (or more) of Businesses Will Never Sell – That’s Why

blog_mouse_pc_400_clr_2729I am passionate about small business. I truly do think small businesses are the primary driver of our national economy. But what I really love about small business are the owners. Over the course of my 35+ year business career, I’ve met all kinds of owners. Some have great business skills, some have very little business skills, some were brilliant, some were not so smart. But all of them were living the American dream of owning a business. And, mostly, that’s what I love about them.

The “game of business” is seldom easy. In most instances, it requires significant internal fortitude and persistence to push through all kinds of obstacles – just to break even! And then the small business owner has to have the tenacity to push the business to profitability. For most, it’s a struggle that requires much more than the typical employee’s 40-hour work week. That’s what I admire most – the “sweat equity” investment required of most business owners.