Selling a Business

People buy and sell businesses every day. At a first glance, it seems like a standard transaction, the subject of which is your business. You put it on the market, you advertise it, and you wait for the right buyer to pay you the right price. It seems really easy, right? Well, it can definitely be a lot easier thanks to #SellSavvy and companies such as BCMS that offer their expertise and knowledge in this sort of transaction.

One thing that many people might not consider carefully before putting their business on the market is the fact that they might be emotionally attached to their company, especially if they were the ones who started it. Of course, selling a business you might not always be able to run might be a good idea regardless of how attached you are to it. If, for example, handling your business is too much for you, or if you look at the numbers and you see that it is no longer profitable or it has never been profitable in the first place, selling it to somebody more knowledgeable might seem like a good idea.

Whenever you want to sell your business, you might want to ask yourself the following questions:
1. Are you able to handle the sale on your own, or would you benefit from an experienced broker? From my experience, very few business owners have what it takes in order to complete the sale on their own. Buying or selling a business can be a rather daunting task that is best left in the hands of somebody who has the right expertise to do so.
2. Do you have the right system in place if you are attached to your business? Very often, your family or friends are your best bet when it comes to dealing with this sort of thing. They will be able to understand you since they saw you through the whole process from beginning to the end.
3.How will selling your business benefit you? If your business has been a burden to you, you might feel liberated. Somebody else than you might be able to steer it in the right direction, and you shouldn’t feel sad that you are selling something that is not working out for you.

Live Within Your Means

When I am short on money, I know that it is time to decide to live within my means. One thing that has been bothering me for months was the amount of money I spend on fuel. I decided that it was time to do something about it. I took the matter into my own hands and started planning the way I use my car. I only go where I really have to. For example, I try to only go to places to shop that are on my way to work. If a grocery store is too far, I do not bother to go there anymore. I used to drive for fun in the past taking my family to various places around the town, but I do not do it anymore as I try to save money on gas.

How to Find a Good Executive Recruitment Firm

Whether you are looking for your next challenging role, or a business owner recruiting new, high level talent to your company, you’ll probably end up dealing with a recruitment firm.

Executive recruitment is a different ballgame to standard recruiting – with highly experienced executives who can exert an influence across your entire business you need to take extra care to make sure you get the people who are right for your business. Even a highly skilled executive may not have the right skills and personality to take your business in the direction you want.

The converse also holds true. If you’re an executive looking for a new business, you don’t to register with a typical high street recruiter. They don’t have the contacts necessary to connect you with the calibre of company that you’re looking for.

In both cases, both the executive and business owner need to know how to find a good Executive Recruitment Firm. This is as much as a skill as knowing how to interview well, and just as important.

Heard it on the Grapevine

The first thing to do is consult your own professional network: acquaintances and business contacts who have recently been recruiting or jobhunting at this exclusive level. Their stories are a good indicator of who you ought to consider and who to avoid.

Don’t just dismiss working with a recruiter because they didn’t produce results for a contact. Failure of the recruiter relationship could as much be due to a culture clash as simple low quality, so make sure you dig into the details of why things didn’t work out. It could be that your friend couldn’t work a with a recruiter for exactly the same reason they’d be a great fit for you!

Log On to LinkedIn

Linkedin is a great professional resource when you’re recruiting and one of the groups with the biggest presence on the network is in fact recruiters.

It’s a chance for you to search directly for recruiters within the niche you’re working and getting some sense of both their experience and personality. This should help you make the big decision about who is best to work with.

Be Fearless

Working with a recruiter could be one of your most important professional relationships and a collaboration that could last for years. It’s vital that your contact at the firm is someone you can trust to represent your interests, so if you feel they don’t, and that you can’t work with them, you should have no fear about terminating the relationship without delay.

It’s wasteful to spend time on professional relationships that don’t provide a return for your business and the one thing you cannot afford is waste.

Fixing Mistakes

Even though I try to be careful while writing posts and articles for my blog, I sometimes keep making mistakes. One thing I learned while being a blogger was to try fix mistakes immediately after spotting them. This allows me to correct my mistakes straight after seeing them. I do not want to wait for too long before fixing mistakes. I rather prefer to do it immediately. If I know that I made a mistake and have not fixed it yet, it will keep me distracted until I fix it. I know that I simply cannot ignore mistakes after spotting them. This is why I always attempt to fix them as soon as possible.

Get Your New Business Noticed

Starting a new business is never easy, but there are ways to get your name out there to increase customer flow. The more people hear or see your name, the more likely they are to think of you first when they are in need of your products or services. Whether you have the next best line of products or offer a much needed service, these tips will help you get noticed.

On the Small Side

These techniques are tried and true, and there is a good reason why so many businesses rely on them to get their name noticed. They have been use over and over since the beginning of business, and they are quite effective. Begin with the ever popular flyer. These can be passed out personally in high traffic areas or posted on bulletin boards at local grocery stores and rec centers. Once you get a customer, keep them coming back with postcards that offer bounce back specials.

Large Scale

There is something to be said about getting in someone’s face. It is hard to ignore a business that is literally larger than life. Billboards are terrific for getting recognition. Whether you choose a modern digital advertisement or stick with the traditional and affordable flat billboard, people will notice you. You can get further attention form drivers with vehicle logo wraps. Professionals like those from Sign Zoo can help you get your name out on the highway where everyone will see it.

Word of Mouth

Maybe it should be called word of the internet, but it is still the same basic concept. Get people talking about you and your services or products. Social media has made it easier than ever before to do this. Where you once had to wait for each individual to talk to another person about your business, you can now reach a large audience with one post. Use this tool to spread the word rapidly.

Once you have implemented these basic advertising techniques, you will notice an increase in customer flow. These options allow the people in your area to get to know you and what you offer in a unique way that will create a buzz about your products and services that you may not otherwise have.

Types of Online Scams

In my opinion, avoiding scams or having the ability to recognize them might be as important as being able to recognize legitimate opportunities. Scams will either just waste your time, or time and money. I will try to give a few examples:

-Programs that will not require any payment or deposit, but will never pay you for their work even if you reach the minimum payout.
-Programs that will not require any payment or deposit, but will not pay you because you did not reach the minimum payout. The scam here is that the minimum payout is so high, that taking into account the pace in which you earn money, it could take you a year or more to accumulate such an amount of money. During this year you might stop being interested in earning money online, the company can stop existing, or it can have financial problems and will never pay you. It requires some experience and knowledge to spot such scams.
-Programs which require a purchase of an “attractive” product, which is supposed to make you money. It may be a pyramid scheme or something else. Into this category I would also include websites that charge a membership fee before you make any money. It might be called a business start-up kit. What all of those programs and websites have in common is that you are not going to earn any money because of them, but rather waste your time and money.

What are your thoughts on different type of scams? Which are the most dangerous?

The Secrets Behind Being A Successful Entrepreneur

Although anyone can be an entrepreneur, it takes a special someone to actually achieve it. There are qualities, skills and characteristics that are important if you want to own a business. You too can reach greatness with the right determination and attitude.

Entrepreneurs have a deep passion for what they do and love going to work each day to follow their dream. You have to be focused and willing to put time and energy into building a thriving company. Don’t worry about what other people think and keep your head held high throughout the process. See the secrets behind being a successful entrepreneur.

Takes Care of Self

First and foremost, business owners take care of their wellbeing. Do this so you can operate at your highest capacity and do your best work each day. Eat right, exercise, sleep and take breaks if you need them. The only way to get ahead is to feel good and have the energy to keep going when the ride gets rough. Being exhausted and worn down all of the time will not only hurt you in the long run, but also your business.

Implement Smart Processes

A good entrepreneur knows they don’t have time to get it all done themselves or manually. You want to use solutions like marketing automation to send communications and campaigns out when it’s most convenient and makes the most sense for the customer. It’s like having a second brain to help you run your business. Use technology to automate and improve how you complete tasks and projects in the office. A successful entrepreneur knows when to flip the switch and implement smart processes to get the job done right and save time.

Uses A Calendar

A business owner who wants to get ahead knows they aren’t too good to use a calendar. It’s one of those tools that will continue to save you time and time again. Calendars and to-do lists are there to make your life easier. You’ll have a clear view of what’s coming up and what meetings you need to prepare for. It’ll also give you a good indication of when you’re spreading yourself too thin and need to scale back. It’s a good idea to have a personal and work calendar, since your life will be busy in both areas.

Focuses on the Customer

Always keep your number one focus on the customer. A good business owner knows that all they do is for the purpose of satisfying the client. A smart entrepreneur innovates based upon the market and their target audience. They’re always taking the opportunity to listen to feedback, network and build a relationship on social media. It’s important to understand that what matters is what’s easiest and best for the customer and not the internal team.

Conclusion

There’s a lot to learn before you’re ready to completely take over a business. With that being said, it’s never too early to start developing the skills and expertise you need to run a company. These are the secrets behind being a successful entrepreneur.

How to Have Fun Online

Since the Internet was invented millions of websites came into existence. Some websites are business-related, but there are also many sites which emphasis is on entertainment. If you are sitting in front of your computer and you are wondering how to have a little bit of fun, then the good news is that there are many fun sites to visit. I would like to list below a few types of which you have want to visit in order to have fun:

-Movie clip sites. There are many sites of this nature and you may be able to find many entertaining videos on such sites. Some of them might be home made, while other may be even more professional. However, even an average person can make an interesting video by putting some effort into it. Most people that I know love to watch funny videos of people’s pets.
-Websites that allow to interact with other can be fun. It is fun to meet others and it is fun to talk to them about various topics. There are many sites that allow talking to others. Some of them are chat rooms, while others are forums. Social networking websites are also very popular as they can be quite convenient.
-Entertainment sites that feature interactive games can be fun. Many of them allow to play against a human opponent and this way you can enjoy playing games and also have some fun while talking to others.

There are many fun sites to visit and I just listed a few examples in order to put you in the right direction. I am sure that you will find something that will be a lot of fun. The best part is that almost everything on the Internet is for free.

Saving Money in a Down Economy

I sometimes wonder if it is even possible to save money in a down economy. Do you for example have any savings? When it comes to me, I do not know when was the last time I had some money on my savings account to spend on whatever I wanted to spend. One of my New Year’s resolutions is to have more savings. I know that the resolution might be a little ambitious, but I am not ready to give up just yet. This time I am going to try really hard to make sure that I accomplish my goals. I will try to go through the list of my expenses and see what I can reduce. I will try to let you know about everything I managed to accomplish.

It is not enough to plan your budget once and then leave it be. Your situation and your expenses might change often, even more often than you might expect them to change. You need to be flexible with your budget. I try to adjust my budget almost every month. I try to see if something has changed. Maybe I have one more extra expense or maybe there is something I decided not to buy anymore. If this is the case, it might be a reason to remove it from the budget and replace it with something else or nothing at all.

Why is it Important to get Your Contracts Reviewed?

When you run a business you’ll be dealing with contracts a lot. It’s rare for a small business to have dedicated legal staff or sales teams in its early days so as person in charge you are where the buck stops and it should stop with a contract.

Whether you’re securing your premises, a supply of raw materials and products or the labour and expertise you need to run your business, it’s foolish to trust to this a goodnatured agreement that isn’t formalised by a contract. However well the two parties may know and trust each other, a formal business contract gives both some legal certainty to rely on in the event of any dispute, allowing it be resolved more quickly, cleanly and with luck allowing them to maintain their good will and partnership. A contract dispute has protocols allowing it to be dealt with quickly: a broken friendship is much harder to work through.

It’s important these contracts are robust and cover the agreements you’ve actually made in negotiation. If the other party is responsible for drawing up the contract and it doesn’t cover some specifics you agreed in person, the legal document you’ve signed takes precedence.

The idea solution is to get every document reviewed by a trusted contract lawyer before you sign it. If you can access the services of such a professional, they will be able to advise on you on any ambiguous terms and make sure the document is a correct legal summary of the agreement you’ve negotiated. If it’s not, they can be an authoritative voice to ask for a redrafting to make it agree more closely with your negotiations.

It’s not as hard as it used to be to access contract review services. Many reputable online law firms have appeared in recent years, allowing smaller businesses flexible access to the services they need without needing to pay the hefty costs associated with high street lawyers.

If you can’t find or afford a contract lawyer, one way to check your contracts is to ask someone reliable, but with no prior insight into the deal to read it over. If they can read the contract and summarise a deal that sounds like the one you agreed, with no unpleasant surprises, you can feel more confident about it though.

Creating a good working relationship with a lawyer is by far preferable, however, so priotorise finding one within your budget as soon as you have the resources.