Powering the creation, growth, and success of small business in North Dakota.
By: Keith Olson, Williston Center Director At the SBDC, we work with small business owners every day. These are hardworking individuals who have poured years, sometimes decades, into building something from the ground up. Whether it is a local restaurant, HVAC service, repair shop, or professional firm, many of these businesses revolve around one person, […]
By: Keith Olson, Williston Center Director When business owners start thinking about selling, one number often takes center stage: EBITDA, or Earnings Before Interest, Taxes, Depreciation, and Amortization. It is widely viewed as a shortcut to determining what a business is worth. But relying too heavily on EBITDA can leave business owners surprised when buyers […]
Categories: Advisor Knowledge Base
By: Keith Olson, Williston Center Director While Warren Buffett is best known as one of the world’s most successful investors, his principles for selecting companies overlap powerfully with how to run and operate a successful small business. At the ND SBDC, we think Buffett’s timeless wisdom applies just as much to Main Street as it […]
Categories: Advisor Knowledge Base
Written by: Keith Olson, Williston Center Director As an SBDC advisor, business appraiser, and exit planner, one of the most critical questions I face when helping clients navigate the world of business transactions is not merely about determining the value of their company but its saleability. The real question often boils down to this: Can […]
Categories: Advisor Knowledge Base
By: Keith Olson, Williston Center Director In the SBDC system, we often work with clients looking to buy and sell businesses. A common question I hear is, “Why don’t some small businesses sell?” It’s disheartening when a business owner reaches retirement but can’t find a buyer, sometimes leading to a complete shutdown. Walking away empty-handed […]
Categories: Advisor Knowledge Base
By: Keith Olson, Williston Center Director Our ND SBDC network spends a great deal of time on exit and succession planning to help business owners prepare for the next act in life. Many business owners are miserable after selling their business or retiring because they have not spent enough time planning for life outside the […]
Categories: Advisor Knowledge Base
By: Keith Olson, Williston Center Director As we talk about business succession, there is, more often than not, a bank involved and is typically working with the buyer to obtain financing. We often hear about the 5 C’s of credit and how that impacts the buyer’s ability to obtain funding. However, there is also 4’C […]