Terry Lammers > Quotes

“Confidentiality is key, and it can be very difficult to control. Remember, loose lips sink ships.”
― Terry Lammers, You Don't Know What You Don't Know: Everything You Need to Know to Buy or Sell a Business

“Since you can find anything from a date to a mate online, why not seek out the business matchmakers? There are plenty of websites such as BizBuySell.com, MergerMart.com, and BizQuest.com, that have hundreds of businesses listed for sale.”
― Terry Lammers, You Don't Know What You Don't Know: Everything You Need to Know to Buy or Sell a Business

“How do you determine the purchase price? What is a business worth, and how do you decide what your initial offer will be? There are three approaches to valuing a business: The Asset Approach, The Market Approach, and The Income Approach.”
― Terry Lammers, You Don't Know What You Don't Know: Everything You Need to Know to Buy or Sell a Business

“My years at the fire department taught me a lot—even about running a business. It taught me to read situations quickly, trust my instincts and experience, and make a decision. We grew Tri-County Petroleum quickly because we could assess any situation, make a decision, and move on. If something didn’t work, we figured out how to fix it, took the next steps, and moved on.”
― Terry Lammers, You Don't Know What You Don't Know: Everything You Need to Know to Buy or Sell a Business

“The first priority is established cash flow. Throughout this book we will talk a lot about cash flow. Cash flow is the beating heart of any business. Notice I use the term “cash flow,” as opposed to “net income” or “sales,” as my measuring stick”
― Terry Lammers, You Don't Know What You Don't Know: Everything You Need to Know to Buy or Sell a Business

“bankable.”
― Terry Lammers, You Don't Know What You Don't Know: Everything You Need to Know to Buy or Sell a Business

“acclimate”
― Terry Lammers, You Don't Know What You Don't Know: Everything You Need to Know to Buy or Sell a Business

“There are so many decisions that have to be made at the snap of a finger.”
― Terry Lammers, You Don't Know What You Don't Know: Everything You Need to Know to Buy or Sell a Business

“Don’t fall in love with your advisor. You may need to make a break with this person as you move up the ladder of wealth.”
― Terry Lammers, You Don't Know What You Don't Know: Everything You Need to Know to Buy or Sell a Business

“Life is never dull, and every day we learn and grow and change.”
― Terry Lammers, You Don't Know What You Don't Know: Everything You Need to Know to Buy or Sell a Business

“alienate”
― Terry Lammers, You Don't Know What You Don't Know: Everything You Need to Know to Buy or Sell a Business