Answer Upon - Business

From Not Knowing to Growing the Work We'd Love
No doubt you’ve heard the old notion of goal-setting: “If you don't know where you're going you'll probably end up somewhere else.” Anna Miller-Tiedeman, PhD. ruefully addresses this adage with “however, even if you do know where you're going, most likely, you'll still end up somewhere else.” Haven’t we all experienced the truth of this?Many people constantly pressure themselves to set goals or having h

people are the financial confidants of small business owners, they will be the first to be aware of people considering selling or looking for partners. Although none of these people will generally give you a direct lead, a banker might tell a client that is having financial difficulties that he may know of someone who might be interested in being a partner; the same scenario applies to the others. Another method is for you to advertise in the classifieds (use a box number or secondary email address for replies).

In any case remember that due diligence is the key! I cannot over emphasize that. Over the years, I have b

Cross Selling
When I was sixteen and still at school, I worked in a department store on a Saturday. Cross selling was made easy for me then. For a while I worked in the menswear department. Someone came in to buy a shirt, and because all the related goods were displayed next to each other it was straightforward to ask whether the customer wanted a pair of cuff-links or a new tie to go with the shirt. If they bought a tie, t

A few years ago, I thought that finding a small business that was close to bankruptcy, or in receivership or a retiring family business would be a perfect acquisition. The problem is, how do you identify a business that is in one of those circumstances? I did a lot of research and this is what I discovered.

Bankruptcy & receiverships - Banks very seldom put businesses into bankruptcy! They seize their security interest (the assets that were pledged for the loan) and try to sell them. In North America, the banks are very slow to do anything and usually by the time they seize the assets and put in a receiver there is little left of the business, employees and customers are gone. Trying to buy the security interest from a bank is usually complicated by personal guarantees issued by the previous owner. The trustee (on behalf of the creditors) must insure that he gets a fair price for all of the assets because the previous owner will probably have to make up the difference. This is one of the primary reasons that trustees like public auctions.

They can stand back and say that they received the best price they could in an open market competition. If they make a deal with an individual or company to buy the assets the previous owner could say that the trustee did not use their best efforts in obtaining maximum value for the assets and they could use that in a court to try to avoid utilizing their personal guarantee. Secondarily, there is the situation with confidentiality within banking and trustee circles. No one will tell you in advance of a potential asset seizure. Any advanced indication that a company may be on the verge of having its assets seized could in fact be stated as the reason for its demise. It is important to remember that once a bank decides to put in a trustee they have already written the loan to zero, so anything they get is a bonus.

Retiring family business and active partner - This is quite a different situation. These should be listed in the normal classified sections of newspapers and on websites. It would be advantageous to be aware of them prior to hitting the open market. I have discovered another route and that is "networking." Make sure that your accountant, insurance agent, lawyer, stockbroker, banker, and anyone else, dealing with small business on a regular basis is aware of your hunt. Send emails, write letters to all of the business accountants and business lawyers tell them of your interest and define some criteria.

This group of people are the financial confidants of small business owners, they will be the first to be aware of people considering selling or looking for partners. Although none of these people will generally give you a direct lead, a banker might tell a client that is having financial difficulties that he may know of someone who might be interested in being a partner; the same scenario applies to the others. Another method is for you to advertise in the classifieds (use a box number or secondary email address for replies).

In any case remember that due diligence is the key! I cannot over emphasize that. Over the years, I have be

What Is Stopping Your Business Success: A Quick Business Health Assessment
Which of the following applies to you as a business owner?1. I often hear myself saying I am not focused or I am overwhelmed. 2. I am working harder, longer, and not producing enough.3. I do not have systems for monitoring, measuring, or testing my business success. 4. I describe my ideal client as someone who breathes and has money. 5. I take on clients who are not

ttle left of the business, employees and customers are gone. Trying to buy the security interest from a bank is usually complicated by personal guarantees issued by the previous owner. The trustee (on behalf of the creditors) must insure that he gets a fair price for all of the assets because the previous owner will probably have to make up the difference. This is one of the primary reasons that trustees like public auctions.

In any case remember that due diligence is the key! I cannot over emphasize that. Over the years, I have b

State Department and Negotiation Ramifications
It seems the United States State Department has their work cut out for them as they deal with dictators and foreign leaders who are problematic for peace in the world. Worse off much of the world runs on guns, drugs, arms, gems, worthless currency and human trafficking. It makes it rather tough to deal with some of these leaders of these Third World countries as they try to dictate policy and kill anyone in

d say that the trustee did not use their best efforts in obtaining maximum value for the assets and they could use that in a court to try to avoid utilizing their personal guarantee. Secondarily, there is the situation with confidentiality within banking and trustee circles. No one will tell you in advance of a potential asset seizure. Any advanced indication that a company may be on the verge of having its assets seized could in fact be stated as the reason for its demise. It is important to remember that once a bank decides to put in a trustee they have already written the loan to zero, so anything they get is a bonus.

In any case remember that due diligence is the key! I cannot over emphasize that. Over the years, I have b

101 Fundamentals Before Starting Your Business
Before we embark on any business, we need to take due diligence, study the industry and come out with a game plan. Often, a BIG PICTURE with realistic intermediate goals has to be painted. Good businessmen do not just buy any product, find any place to sell his product at any prices. If he is to do that, then the BIG PICTURE will be BIG FAILURE for him. The BIG PICTURE is like the final destination of every jo

In any case remember that due diligence is the key! I cannot over emphasize that. Over the years, I have b

Powerful Strategy to Get More Press and Media Exposure
It is one thing to write a press release based on a certain product or service that you want to attract media coverage for, but it is sometimes quite another to get all the media and press exposure that you desire and may even truly deserve. The more attention you can generate via the press and media the more impact your product or service will have in the marketplace.The realities of garnering maximum

In any case remember that due diligence is the key! I cannot over emphasize that. Over the years, I have been involved in hundreds of acquisitions and can relate horror stories with respect to businesses that have been set-up for sale, and not as advertised.

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Answer Upon - Finding A Business For Sale That's A Deal - May Not Be Easy!

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