Archive for the ‘business negotiation’ Category

Offer or LOI?

Both terms are used to describe an offer made to purchase a business.  An over-simplification of the definition of both documents is:  An Offer to Purchase is usually written in contract form and defines the price, terms and conditions of the sale, and is usually accompanied by an earnest money deposit.  A Letter of Intent (LOI) is usually written in letter form and also defines the price and the terms and conditions…

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Woman entrepreneur

It will probably come as no surprise to some of you that men and women differ in some important respects. Whether it is the simple task of asking for directions, or different preferences in entertainment, it is obvious that women and men often approach the world from different perspectives. These differences have important ramifications on the negotiating table.

To this effect, studies have found that women set lower goals than men prior to negotiations, are more passive than men…

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Unusual concept

1. My business runs better without me

2. I’m selling my business after 20 years time to take it easy? No, its time to work hard

3. When Negotiating – Those who want it less - Wins?

My focus is working with business owners and individuals with the process of buying and selling businesses.  These concepts apply both to the process of buying and selling businesses as well  running a small business.

1.  When starting your business, you are the face…

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Business legal

Sometimes it may be easy to recognize what a successful person looks like because of the fancy car, expensive clothes or the big house or houses.  But, what does a future Successful person look like? 

Last weekend I was asked to speak at the Entrepreneur Law School at Florida Gulf Coast University.  I spoke along with an attorney to a standing room only crowd of small business owners in Southwest Florida.  These small business owners paid $100 to attend…

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Web design

If you are a business owner, chances are you have a website.  If you don’t have one, you might want to think about complimenting your business with a website.  Not all have to be extremely detailed. You can have a simple and elegant website that is there to help your customers find useful information such as contact information and the outline of your business.

With that being said, having a web designer design your new website or re-design your…

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Working capital

Remember the Wendy’s fast food chain tagline, “Where’s the Beef?” Buyers ask, “Where’s The Cash?”

Working capital is essential to operating a successful business. There must be free flowing cash to pay the bills. Simply stated, CASH makes the economy function and credit is the great (cash) enhancer!

Buyers, sellers, business brokers and other professionals need to not only understand working capital, but know how to leverage it to close more deals.

Most accountants agree that the definition…

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Credit card processing

For entrepreneurs it is critical you look over every aspect of your business.  One thing to look at is your credit card processing provider.  You don’t want to see yourself getting into debt, and choosing the right provider can be really crucial.

The first thing you should do when looking for a credit card processing provider or merchant account service is to shop around.  Look at multiple vendors before deciding on the right provider for you.  What…

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Business valuation

Business valuations are one of the least understood tools for a business owner.  There are many reasons to perform a business valuation. These include but are not limited to buying a business, selling a business, financing expansion, estate planning, retirement planning, protecting owner income and equity, modifying ownership and unfortunately, owner divorce.

You should expect to pay over $3,000 for your valuation. Depending on your annual revenue and situation the fee could be closer to $10,000.  It is worth every…

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Digital scale

Digital scales for your office can be a great benefit.  Postage fees can add up fast if your company mails many items. One reason for this is because many offices round up their postage costs, which can really put a dent in your postage budget. Small businesses can actually see a savings of 20% a year on postage costs according to one postage meter company.

With that said, how can you as a business owner negotiate with these digital…

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Business security

Security can be an issue for many companies.  As a business owner you want your employees to feel safe and know you are protecting your building as well.  Some companies have stock rooms full of valuable things.  Security systems for businesses are a great way to help you and your employees feel safe.  It can be intimidating at first, but with the right steps you can figure out what security needs fit your company best, and how to…

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How much?

You buy products or services and one of the first thoughts you have is – How Much?  You sell products or services to customers and one of the first thing a customer wants to know is- How Much? Somebody looks at buying a business and again needs to know – How Much?  And a business owner is ready to sell his business and either move on to other business interest or retire and he needs to determine –…

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