Who wants to read a novel with no surprises? Who wants to watch a play with no drama? Who wants to follow March Madness basketball with no upsets or last second buzzer beaters? Nobody. We all enjoy, and even crave, the excitement these things provide, but when it comes to business, we're quite the opposite - the less drama the better.
According to the Dow Jones historical tracker, in February 2016 the industrial average was at approximately 16,500. Compare that to yesterday, where the industrial average has improved to approximately 20,881. Of course this is generally good news, but, as we know, all things that go up must come down. How much and when that will be - no one knows for sure. What the future will bring is continually debated each day by industry and financial experts. The fact of the matter is businesses all along Colorado's Front Range understand the most important thing for their business is what they are doing to service their own customer base here and now.
Taking care of what is most important today is, and always will be, the most effective way to prepare your business for the challenges of tomorrow - whatever those might be. And, while customers should be at the forefront of your mind, so too should your record keeping, inventory tracking, personnel development, and staying true to your company's values with each and every transaction. All of this will provide stability and structure, and will increase overall value to you and your business when the time to sell has come.
March 1, 2017 was FBB's 35th anniversary serving the business community along Colorado's Front Range. During that time, and as a result of over 1,000 completed transactions, we've learned one of the biggest stumbling blocks to successfully completing the sale of a business on time and for the highest value is the integrity and consistency of the financial records of that business. Prepare now for that future event to get the highest possible price for your business without significant delays or detours by tracking your business activity clearly, consistently, and accurately.
Like our weather here in Colorado or watching the emotions of today's teenagers, the market will continue to rise and fall - sometimes in unexplainable ways. Your business will not, of course, be completely immune from market conditions. However, you can prepare for the unexpected events all businesses face by taking care of the most important things today and maintaining accounting integrity at all times.
This time of year always brings excitement and energy to the hard-court, but the best thing for you and your business is as little drama as possible as you work to bring consistent and steady growth until the right time to sell has come. When it does, we'll be here...just as we have been for the past 35 years.
We would like to thank our clients, many of whom have completed multiple transactions with our firm, and the many professionals, such as attorneys, accountants, bankers, financial planners, etc., which have supported us and have contributed to our longevity. We remain bullish on the business transfer market and Colorado.
Thank you for your past and future business.