Friday, March 2, 2018

Why you should be concerned about whether your goodwill is personal or not. -How to Buy/Sell a Business

What’s the difference between business goodwill, personal goodwill and the accounting term goodwill?

As a buyer of a business, you want to be sure the goodwill is going to stay with the business that you’re buying.

This week’s question comes from a viewer who bought a business and then lost a big customer because the goodwill didn’t transfer.  What does that mean?

As a business owner, why does it matter if you possess the goodwill or if your business does?  It can make a huge difference when it comes time to sell the business or you try to grow.

Listen in as I discuss the difference between business and personal goodwill and what things you can do to either transfer it or move it. Watch:

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