Tag: sale of business

INTERNAL VS. EXTERNAL SALES

by YOUR BUSINESS WORTH, posted in Uncategorized

BY; Thomas J. Perrone, CLU,CIC 

Choosing the Right Path to Exit Your Business

A Business Owner’s Guide from the GWT Planning System®

Every business owner will exit their company one way or another — the only real questions are when, on what terms, and to whom. Of all the decisions in a transition plan, few shape the outcome more than the choice between an internal sale and an external sale. Each path carries distinct implications for valuation, timeline, taxes, financing, and the legacy you leave behind. This report walks through both paths so you can weigh them clearly, in the context of your own Growth, Wealth, and Transition goals.

What Is an Internal Sale?

An internal sale transfers ownership to people already inside the business — a family member, one or more key managers, a broader group of employees through an Employee Stock Ownership Plan (ESOP), or some combination of these. The buyer already knows the company’s operations, culture, and customers.

Common Internal Sale Structures

  • Family succession — passing the business to a child or other relative, often paired with an estate plan and a multi-year transition of leadership.
  • Management buyout (MBO) — one or more key employees purchase the company, frequently financed in part by the seller.
  • Employee Stock Ownership Plan (ESOP) — a qualified retirement plan purchases company stock on behalf of employees, offering the seller potential tax advantages and a built-in buyer.
  • Partner or co-owner buyout — an existing partner buys out a retiring or exiting owner’s interest, often under a pre-existing buy-sell agreement.

What Is an External Sale?

An external sale transfers the business to a buyer outside the company — a strategic buyer (often a competitor or company in an adjacent market seeking synergies), a financial buyer such as a private equity firm, or an individual entrepreneur buying their way into ownership.

Common External Sale Structures

  • Strategic acquisition — a buyer in your industry purchases the business for its customers, talent, technology, or market position, often paying a premium for synergy.
  • Financial buyer / private equity — an investment group acquires the business primarily for its cash flow and growth potential, typically with a plan to scale or resell it later.
  • Individual or search-fund buyer — an entrepreneur purchases the business to run it directly, often using SBA or other acquisition financing.

Key Differences at a Glance

Factor Internal Sale External Sale
Typical buyer Family member, key manager(s), or employees (via ESOP) Strategic buyer, competitor, or private equity/financial buyer
Valuation & price Often below full fair market value; frequently seller-financed Usually the highest achievable price, especially with strategic/synergy buyers
Timeline to close Can be structured over years (gradual transition) Often 6–12 months once a deal is in motion
Confidentiality High — deal stays inside the company Lower — due diligence exposes financials to outside parties
Financing Seller financing, SBA loans, or ESOP debt are common Buyer typically arranges its own financing or uses cash/PE capital
Cash at closing Partial upfront, balance paid over time Larger lump sum at closing is more common
Legacy & culture Preserves culture, brand, and relationships with staff/clients May result in integration, rebranding, or workforce changes
Owner’s post-sale role Often a gradual, mentoring exit Usually a clean, faster exit (sometimes with an earn-out)
Risk to seller Buyer’s ability to repay over time is a real risk Deal risk is concentrated in due diligence and negotiation, then resolved at close
Tax treatment Can sometimes be structured favorably (e.g., installment sale, ESOP rollover) Structure depends on asset vs. stock sale; often subject to negotiation

Weighing the Trade-Offs

Why Owners Choose an Internal Sale

  • Preserve the company culture, brand, and relationships built over decades
  • Reward and retain loyal employees or family members who helped build the business
  • Maintain a gradual, mentoring transition rather than a sudden exit
  • Keep the sale confidential, without exposing financials to outside parties

Why Owners Choose an External Sale

  • Maximize sale price, particularly when a strategic buyer will pay for synergy
  • Receive more cash at closing rather than relying on a buyer’s future payments
  • Achieve a cleaner, faster exit with less ongoing financial or operational risk
  • Access buyers who bring capital, infrastructure, or expertise to grow the business further
A Note on Value

An internal sale and an external sale rarely produce the same number on the closing statement. Internal buyers are usually financing the purchase from the business’s own future cash flow, which caps what they can pay; external buyers — especially strategic buyers — can sometimes pay for value the internal team cannot. Knowing your business’s true worth, and the gap between internal and external value, is the starting point for choosing a path with confidence.

Questions to Guide Your Decision

  • How important is it that the business stay in the family or under existing leadership?
  • Do you need maximum cash at closing, or can you accept a phased payout over time?
  • Is there a capable internal buyer — and can they realistically finance the purchase?
  • How much risk are you willing to carry if you finance part of the sale yourself?
  • What matters more to you: the highest possible price, or the legacy of who runs the business next?
  • How much time do you have before you need or want to exit?

Bringing It Together with the GWT Planning System®

Deciding between an internal and external sale isn’t a decision to make in isolation — it’s one piece of a broader Growth, Wealth, and Transition plan. The right path depends on where your business stands today, what your personal and financial goals require, and how much runway you have to prepare. A well-built transition plan builds real, transferable value into the business long before a specific buyer — internal or external — is identified, so that whichever path you choose, you are negotiating from strength rather than necessity.

If you’re weighing your own exit options, the most valuable next step is an honest assessment of where your business stands today against both paths — so the choice is one you make deliberately, not one that gets made for you.

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Critical Step Needed To Create An Exit Strategy! Part 1 

by YOUR BUSINESS WORTH, posted in Business Growth and Transition, Company Wealth, evaluations, Income from your business, Uncategorized, Valuation, Value drivers, Working On Your Business

Some business owners think that selling their business is a matter of getting an appraisal and putting the business on the market hoping for a good offer.

Many business owners that I have worked with initially assumed they knew the value of their business and what they could sell it for.

Through our education process they realized there is much more to selling their business, then just the establishing a value and then going to market.     One of those factors or variables is whether the business owner needs the business value for their future retirement, most do!

Helping the owner figure out what they need for retirement is critical in establishing what they need to sell their business for, and what action is needed to increase the future value of the business (Value Drivers).  In this article I will cover two of the seven steps that  are the most critical when planning a future exit from the business.

Whether the sale is one year or ten years from now, these are the steps needed to sell  a business.

  1. Must identify the Exit Objectives (why, when, and in some cases who) 
  2. Identify Personal and business financial resources; (this is part of the future financial security of the business owner and their family).  
  3. Maximize and Protect Business Value
  4. Ownership Transfer to Third Parties
  5. Ownership Transfers to Insiders
  6. Business Continuity
  7. Personal Wealth and Estate planning

In this post I will cover steps 1-3, and cover steps 4-7 in the June issue.  

In comprehensive Exit planning, (when you break the process down it looks like this):

Your Exit Objectives

  • Building and preserving business value
  • Selling your company to a third party
  • Transferring your ownership to insiders

Your Business and Personal Financial Resources

  • Business Continuity
  • Personal wealth and estate planning

Owner’s goals and aspirations are

  • Financial Need
  • Overall Goals
  • Value based goals
  • Defining the owner’s goals and aspirations shows the client’s wants and needs and identifies what is  important to the business owner. By spending time collecting this information from the business owner we establish a strong relationship, while differentiating you, and allowing you to be the quarterback of the plan.

Accurate information from the owner is critical to planning.      Calculating what the GAP of resources the owner needs to have in order to supply their future retirement income is critical.  It is here where the measurement of their resources helps to decide what they need to sell their business for, to help fund the gap.    Continue reading “Critical Step Needed To Create An Exit Strategy! Part 1 “ →

Single appraiser Buy and Sell Agreement!

by YOUR BUSINESS WORTH, posted in Buy and Sell Agreements, Company Wealth, evaluations, Funding your Buy and Sell, Selling Your Business, Valuation

An alternative to the multiple appraiser agreement, is the single appraiser agreement (SAA).  There are two single appraisers’ processes. I

  1. Single appraiser, select now and value now
  2. Single appraiser, Select and Value at Trigger Event
  3. Single appraiser, Select Now and Value at trigger event

The preference is #1:

However, #2,3 are stopgap processes which can be used.  As mentioned in both of these types, the value is delayed to sometime in the future. 

Postponement of the appraiser selection and initial valuation create substantial uncertainties and potential for disagreements   or disputes.

The SINGLE APPRAISER, SELECT NOW AND VALUE NOW OPTION

In the BSA, the appraiser is named and is engaged to provide an initial appraisal for purposes of the agreement.

SELECT NOW: At the creation of the BSA, the appraiser is named. All parties have a voice and can exercise their choice as difficult as it may be.

VALUE NOW:  The chosen appraiser provides a baseline appraisal for the purpose of the agreement.  In this method, it is recommended that the value be presented in draft and give each party a time period for consideration before entering it in the final BSA. 

VALUE EACH YEAR (OR TWO) THEREAFTER:  This provides great advantages:[i]

  • Structure and process
  • Known to all parities
  • Selected appraiser is viewed as independent
  • Values are seen before triggering event
  • Since a draft will be provided to the participants, they can review for corrections to the mutual satisfaction
  • The appraiser’s conclusion in known up front and is the price until the next appraisal, or until a trigger event
  • Because the process is exercised at least once, it should go smoothly when employed at trigger events, less time consuming and less expensive than other alternatives

The single valuation process also helps the estate planning process with the annual reappraisals which will facilitate the estate planning objectives of the shareholders. For example, if the planning calls for minority discounts, the supplemental valuations at the not marketable minority level for gift and estate purposes.

[i] This type of valuation process will accommodate most small companies as for many reasons listed above. 

 

Multiple Appraiser Valuation Agreements 

by YOUR BUSINESS WORTH, posted in Buy and Sell Agreements, Company Wealth, Funding your Buy and Sell, Selling Your Business, Valuation

There are two types of appraiser valuation agreement (AVA). Multiple appraisers and single appraises, while the multiple appraisers (MAVA), are the most common.

How they worked

Usually the BSA calls for a 30-60-day window for the seller and buyer to attempt to agree upon a price.  Once the appraisal process is initiated, each party will select an appraiser.

The two will provide opinions of value conforming to the BSA.  If their value is within 10% of each other, then the final value will be the average of the two. 

If the two appraisals are more than 10%, they will agree on a third appraiser.  That appraiser will:

  1. Provide an appraisal is anaverage in the same way the other appraisers (reconciler)
  2. Provide an opinion regardless of theother two conclusions.

When BSA are triggered, the corporation and seller separate and go separate ways as there is different motivations. The seller wants the highest price, the purchaser, the lowest price.   A good reason why each party should reach an agreement on terms before there is a triggering event, where neither party will be as open minded as they were before a triggering event.

Even with appraisers it is possible that each side will be overseen by multiple sets of attorneys looking out for the interest of the various sides to the transaction.

  Thought Processes behind multiple appraisers’ agreements:   

Multiple appraisers are intended to bring reason and resolution to the valuation process. This does not always happen, because the parties have 30-60 window to get the appraisers and the evaluations completed.  This is more than enough time to irritate each other and taint the process, causing in some cases, the appraisals to be compromised.

Since most multiple appraiser agreements (MAA) base the third appraisal to be an average of the former two if within 10%.

Continue reading “Multiple Appraiser Valuation Agreements “ →

What Status Is The Stock After A Triggering Event?

by YOUR BUSINESS WORTH, posted in Buy and Sell Agreements, Key People_Or Group, Passive Ownership, Strategies of growing business, Value drivers, Working On Your Business

Chris Mercer author of “Buy-Sell Agreements for Baby Boomers Business Owners” addresses a very good question.  Who owns the stock after the trigger event?  After a trigger event, does the affected shareholders retain the rights, risks and privileges of the ownership, things like, voting, distribution, access to financial information, etc., or are their shares converted to another status, such as (example), the “pending sales of stock” status?

If the shares are converted into the new class or status, do they have the right to receive dividends, or interest while in that pending status, if so, who should be receiving it?

The agreement can also have a clause where the stock that is waiting to be purchased would convert to a “non-voting “status prior to being purchased.

There are many times a stockholder has signed personally for a corporate debt.  The stockholder may desire to have the remaining stockholders make an effort to get the departing stockholder off the note, as they have ceased to be a stockholder.

The questions that Chris puts forth are legitimate issues and should be dealt with when business owners and their council set out to design a buy and sell agreement for the company.

Thank you, Chris Mercer, for bringing these topics to the forefront.

Over the years, many of the buy and sell agreements which I have reviewed over the years, do not address or mention these particular situations, and could create a void should the situation arise.

Check Chris Mercers publications.  He puts out very good information that is useful to practitioners.

The Major Reason Why Business Owners Don’t Plan For Maximizing Their Business’ Financial Potential Is Now Eliminated!

by YOUR BUSINESS WORTH, posted in Company Wealth, Strategies of growing business, Uncategorized, Value drivers, Working On Your Business

Many business owners spend the majority of their time running their businesses and inadvertently end up neglecting some of the more important aspects of their business. This is the time where all the details of the success of your business are planned. We call this “working ON your business”.

Business owners can be vulnerable to financial mistakes because of many factors.

One of the key details of a business owner is what happens to their business in the following scenarios:

  1. What happens if I die?
  2. What happens if I become ill, or have a long-term disability?
  3. What happens if I lost my key person, or my key group of employees?
  4. What happens if I can’t control cash flow, or just don’t want to run the business any longer?

Unfortunately, many business owners don’t spend the time working on their business for many reasons.  Many owners think it’s expensive, complicated and very time consuming.

The truth is that by not working on their business, should any of the above scenarios occur, the consequences would be much more expensive, time consuming and potentially devastating.

In our planning practice, we estimate the average time to create a business and estate financial plans for a business owner, is five to ten hours, not including time with attorneys and accountants who are a part of the team.

How does our process work?

Our system is built around planning with the least amount of time needed for the business owner’s time.  To do this we use technology in communication such as phone conferences, video conferences, and audio and video productions to explain our client’s situation.  This allows the business owner to eliminate using work hours for this project.  We can do this technologically with clarity and brevity.  Our plan is focused on brevity for the business owner.

Our Process: 

  1. Viewpoint Meeting: Define what are some of the areas of concern using our Viewpoint System.  This is a 30 minutes conversation.  Our business owners need about ten minutes to prepare using this aid.
  2. “The Selection Meeting”. Once we define the areas of concern, we dig deeper with a 45-minute Selection Meeting. This is where we discuss all of the possible areas where the client may have problems and concerns.
  3. “The Planning Stage” is the longest meeting. This is about 1½ hours.  Prior to the meeting, we send our client material which they can review and prepare on their own time.  This takes them about 20-30 minutes to complete.
  4. The Discovery Meeting is about one hour where we bring together our findings based on their personal situation and discuss which issues and direction of implementation the client may wish to go. Again, our client receives the information to review prior to our Discovery Meeting[i].
  5. Implementation Session: This is where we start implementation needed to solve the issues.  This is the time when all of the client’s advisors work together to get the planning completed.  For example, our findings are discussed with the professional team and look for their advice and suggestions.    Also, this process brings everyone on the team up to date on the business owners’ situation.  This process breeds new ideas and strategies (earlier in the process, I would have been in touch with these advisors between the Discovery and Implementation Meeting). This may be the first time the client has had all of their advisors working together and sharing knowledge about the business owner! 
  6. Semi-Annual or Annual Review:  This is where we move on to the next area of concern; One concern at a time (in some cases, there may be overlapping of concerns and they can be bundled in the planning).  If there are no additional concerns, we review what has been implemented. This is an automatic process, so we are always adjusting as the business situation changes.

For business owners who realize that they need work  on their business, our process can maximize their business’ potential profit, organize them in a timely fashion, and fine-tune them in the future, so they can maximize their “business potential value” when they exit from their business.

[i] We plan for this time, but do not limit this session to a time schedule.

The Story! The Cost of Funding Your Buy and Sell Agreement! Options!

by YOUR BUSINESS WORTH, posted in Buy and Sell Agreements, Executive Benefits, Funding your Buy and Sell, Income from your business, Selling Your Business, Uncategorized

The Story! 

The Cost of Funding Your Buy and Sell Agreement! Options!

Over many years I have experienced many business owners in total denial about the cost of funding their buy and sell agreements, thinking they can come up with the liability when the trigger of death occurs.

The four listed ways are compared below.

  1. Cash
  2. Borrow
  3. Sinking Fund
  4. Life Insurance

Let’s take the one by one.

Cash: This is assuming the company has the cash at hand, idle. Rarely is this an option. Growing companies reinvest in their company and only keep enough cash reserve as needed.

Borrow: A company just lost a valuable member of the company. Most bankers would probably want to see how the company will fair after the death of a key person and would want to know how the liability which has just been created will affect the cash flow of the company before loaning more money. There probably is a good chance that outstanding line be pulled in by the bank (probably a covenant in the loan agreement).

Sinking Fund: Mostly just theory! In 48 years, I have never seen a company try to develop a sinking fund. If the company was putting money in the sinking fun, they are losing the opportunities this money could create by investing in the business rather than on the sidelines. Not reasonable as the actual amount of money needed is available should death occur prior to the target date of accumulation. The least appropriate method.

Life Insurance: At its simplest benefits, it is immediate, tax free and the funding level is immediately known. Also, the cost is only 17 cents on a dollar rather than the much higher costs of the other three options.

Summary: While we don’t know when a death or disabilitymay occur, the company should at least be prepared for this trigger. Today the price of life insurance is low-cost. There is no reason not to purchase at least temporary life insurance (10-30 years), such as term insurance. The cost of life insurance in the example is using cash value life insurance.  Increased Sales To Fund Cost: Another measure of effectiveness of funding the buy and sell is to measure how much more in sales the company has to do to pay for the funding method.

Costs:  Funding over 15 years. 

Cash; 1,039,464 Loan: 1,306,085. Sinking Fund: 901,613 Life Insurance:  171,512

Also, what do you need to have in sales to pay for the method: 

Example, with Life Insurance Cost, @20% profit, sales would be $857,560

With Cash: There would have to be $5,197,320

 

 

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Disadvantages Of The Buy And Sell Agreement! [i]

by YOUR BUSINESS WORTH, posted in Buy and Sell Agreements, Inside Sale, Selling Your Business, Working On Your Business

Certainly, having a Buy and Sell Agreement (BSA) has many advantages, many of which I have discussed in our past posts (May 2019, Advantages of Buy and Sell Agreements).  However, I would like to go over the disadvantages of a BSA.

RESTRICTIONS ON ESTATE PLANNING

BSA can restrict ownership transfers and consequently management duties. These restrictions can be applied to you also. The restrictions could limit your personal planning by limiting your options for the ownership interests during your lifetime or at death. It may prohibit you from making gifts of your ownership interest to your family. Depending on your planning, your BSA could limit your plans to leave ownership interest to your family. The BSA may require your ownership interest to be sold at your death.

RESTRICTIONS ON FINANCIAL PLANNING 

A BSA can restrict the persons to whom you could sell your ownership interest to and restrict when you can sell it.  An example would be in a situation that you need to sell your interest because you’re in a financial bind. The BSA may require you to sell to your entity or your co-owners, who may not want to buy.

Special election to the defer federal state tax of deceased owners

This could limit an estate owner from using Code Section 6166 which is a way of paying your estate tax over a period of time, giving you the option of paying over a 15-year period, five years of deferral and a ten-year payout.  A purchase from your estate could cause the loss of the right to defer the estate taxes.

A sale of Corporate interests may result in a loss of the entities corporate structure

This could limit the entities right to use its own loss carry back and carry forward losses on a significant change in ownership, which is possible without a well throughout BSA.

The cost of putting together a BSA

It takes time and money to put together a solid buy and sell agreement, Of course this is a disadvantage and it can be expensive, however, in order to have an optimal BSA, you will need to invest time and money.  You will also need a competent council to prepare the necessary documents.  This incurs costs.  Being educated in this strategy is to your advantage when designing your BSA.

A poorly drafted buy sell agreement can be costly:  By failing to carefully work out the terms of buy-sell agreement or by having mismatches between triggering events and the identity of the purchaser versus the funding source, a real mess could be created.

[i] Buy -Sell Agreements for Baby Boomer Business Owners Z. Christopher Mercer, ASA, CFA, ABAR

Advantages Of A Buy Sell Agreement And Some Dynamics Of The Agreement!

by YOUR BUSINESS WORTH, posted in Buy and Sell Agreements, Income from your business, Inside Sale, Passive Ownership, Strategies of growing business, Valuation, Working On Your Business

It’s important to understand that every Buy and Sell Agreement (BSA) is different and has a separate purpose when put together and implemented. Because of the vast differences in BSA’s, using a standard form of BSA rarely accomplishes the needs and wants of the parties involved.

Each participant in the agreement has different purposes and objectives and looks at the transactions very differently. Neither party knows when the agreement will actually be needed, and what the triggering event will be. A triggering event could be death, disability, divorce, termination,  bankruptcy, and other defined events.   One thing that can is consistent in most cases is that when a triggering event happens, then each party becomes visionless to the other parties’ best interests, and only focuses on their own and best interests.

The two participants in a BSA are a seller and a buyer. They come in different forms, as individuals, trusts, or estates. Usually their purposes and objectives are very different, and there usually is a conflict between the parties.

While creating the BSA  the parties tend to be very fair before a triggering event. This is because everybody is in the same position and no one knows who will suffer the future triggering event. This is a positive viewpoint, as the parties are reasonable and objective about the possible and various scenarios. Everyone’s objectives are personal, and range from financial, tax, to personal protection for their families.  Having a designed BSA can offer the owners some satisfaction that their needs are documented and witnessed.

Objectives of BSA

  • To provide a predetermined roadmap for the business based on a triggering event which may call for the sale of a participant’s ownership interest.
  • To provide a guaranteed buyer for the owner’s business interest and to create a market for that interest.
  • If funded through life insurance or some other means, the BSA will provide liquidity for the payment of the business interest and help the estate pay for the estate taxes and other settlement costs of the deceased owner’s estate.
  • Can avoid an impasse between the parties in the event of a triggering event.
  • To protect the company and surviving shareholder from subsequent competition, should a terminated owner wish to sell to a 3rd
  • To avoid potential conflicts between the surviving owners and the deceased owners’ heirs, by creating a roadmap through the agreement at the owner’s death.
  • Can level the playing field for the estate or deceased owner’s as the agreement gives the deceased owner a say on how settlement of their interest will be to their heirs and estate. Especially, when the surviving family have little knowledge of the business entity.
  • Establishing the price and method of valuing the interest, establishing the terms of payments, and providing a method of funding for the payment of that purchase price.
  • Can create job stability for minority owners and key non-owner employees.
  • Can establish the value of the entity for tax purposes.
  • Can preclude owners from selling their interest without the consent of others thus avoiding the third-party ownership or voting percentages.
  • The agreement can restrict ownership to people who are actively engaged with the entity of full-time basis.
  • Can improve the credit worthiness of the entity.
  • Can avoid transfer violations/Licensing requirements.
  • Avoid transfers to individuals that would terminate the S corporation status.
  • Can dictate discounts for lack of marketability (minority interest discounts).
  • Can provide for voting agreements where necessary.
  • Can dictate what happens to in force life insurance policies on the terminated or surviving owners.

These are only a few of the many reasons for a buy and sell agreement, and the advantages of funding the agreement.

 

The Final Act! The Day Will Come! Part 2

by YOUR BUSINESS WORTH, posted in Company Wealth, Income from your business, Key People_Or Group, Selling Your Business, Valuation, Value drivers, Working On Your Business

In part-one of this article, I mentioned how purchasers will prefer to buy a business where everything looks good and there are no apparent problems. Smart and neat operations will attract serious buyers; however, this is only one part that is needed to achieve your selling objectives.

There should be no hidden problems or secrets which can jeopardize the purchase. Any undesirable factor not disclosed to the purchaser can lead to a non-sale, or at the very least, something they can use as a negotiating tool. The fact that a deal has fallen apart, is not only frustrating, but will cost you money, time, and distraction from your business.

An owner who unknowingly discloses secrets or situations in their business can end up becoming a deal breaker. Issues which are known need to be dealt with to have the best chance of a good sale. Since there may be issues which are unknown the best answer to this is to search for the problems in advance and take care of them. Think of this the same way you would treat the sale of your home. You would normally fix up, repaint, and clean up before you put the home on the market. You should do the same thing with your business.

Not only would you want your physical location to be clean and tidy, but this also flows over to the other parts of your business, such as accounting, financing, marketing material, department procedure manuals, and an array of other business items. Prepared written policies and procedures are a great selling point for a prospective buyer. Remember, when someone is interested in your business, it’s their team that inspects every aspect of your business in doing their due diligence. This is a micro inspection of all aspects of your business, so it will pay to make sure there isn’t a bunch of dirty secrets hanging around.

FIRST IMPRESSIONS AND PHYSICAL APPEAL
The first time a prospective buyer visits your company they make value judgements. They will observe everything from your reception area to your signage in and on the building. If the impression they get is positive, they will want to investigate your company more. You don’t want to lose their interest based on visual appeal of your business. No matter how good your business seems to do on paper, the prospective buyer may lose interest based on your first impressions.

This observation doesn’t end with just the building. Your premises, marketing literature, dress attire of you employees, uniforms, office settings, rubbish areas and a host of other areas should be updated and tidy. Continue reading “The Final Act! The Day Will Come! Part 2” →