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    Minority owned franchises can help business grow

     

    Building minority partnerships through franchising can help grow your business, according to Henryk Strzeletz of Wheels America Advertising. Strzeletz, born in Poland and a 30-year resident of Germany before moving to the U. S., searches out viable markets and recruits potential business people from all walks of life who are interested in growing with his mobile advertising business, which he established in 1995. Philip Mereday, chief executive officer of WAA, shares Strzeletz's vision. Mereday, an African-American with a combined business experience that spans over 30 years, sees franchising as a way to open doors to a multinational work force, giving easy access to government programs such as the Minority Business Development Agency and others. In the end, this greatly benefits Strzeletz's business - helping WAA turn a substantial profit and keeping the company competitive. "The challenge for many minorities is that they don't have the resources to take advantage of government programs," said Mereday. "They don't know that you can bid for contracts with the Department of Commerce or get a grant from the Small Business Administration." To get its franchises rolling, WAA is working on team-building - giving seminars and workshops to those interested in opening franchises. "We're trying to build a foundation, a bulwark for business people looking for a viable investment in an already proven growth market. Maybe they're building up their portfolio or looking to strengthen their future," said Mereday, who has been an investment banker and writer and has worked overseas in the United Kingdom. "The main benefit of franchising is personal satisfaction from growth." Success is crowning WAA's efforts. A minority business partnership in Detroit has grown from one mobile billboard advertising vehicle to six, which operate daily. A predominately Latino franchise in Miami has been working with clients ranging from Western Union to Spanish-language auction site DeRemate. With more than 30 U. S. locations, including Los Angeles and Las Vegas, minority-owned franchises have helped to make WAA a major player in mobile media, with Fortune 500 clients including Toshiba, Fox Sports and Einstein Bros Bagels.

         
    Mom entrepreneur mentors the things i wish i would have known while working my business and raising my family

     

    Moms are busy people. Raising a family makes you busy, but when you throw in the added responsibilities of running a business, you may feel like a professional juggler trying your hardest every day not to “drop the ball”. Today’s Mom Entrepreneurs are so busy juggling their family and business, some days it may be difficult to find time to breathe. The Business Mom believes the benefit and good advice of Moms who have already raised their families is priceless and will help you to set our priorities. A special thank you goes to the following Moms from NAFE’s For You Network for taking the time to share their thoughts and stories. Reminder #1: Children grow up quickly… Meli Van Natta’s son was seven years old and her daughter was four when she got into the real estate business. Meli of Prudential California Realty says, “I learned that children grow up quickly and you can never recapture the time that you miss.” If she had it to do over again, she would have arranged her schedule to spend more time with them even if it affected her business. Now that she is older (and wiser), Meli realizes that she could have delegated some tasks, maybe taken on a partner, and she didn’t have to attend all the social events that went along with the business. But, she was young, having fun, and feeling very powerful and successful with all the money she was making. Meli’s kids don’t seem to feel that she neglected them. After all, they had time to go to Disneyland, the Zoo, and other places during the week when all the other mothers were at work. So, they didn’t mind too much if she worked weekends because of her schedule. They often helped her by stuffing envelopes, going with her to knock on doors, and sitting with her at Open Houses when she couldn’t get a sitter. Both of Meli’s children are now happily married, well-adjusted adults with kids of their own. Her daughter has chosen to be a stay-at-home mom and is expecting her third child. Her son is the entrepreneur in the family. After a brief foray into the real estate business himself, he is now the proud owner of two successful businesses. Meli’s Top Tips: Learn when to turn off the phone and learn the difference between merely important and urgent. Take those vacations and make your days off sacrosanct. It may take you a little longer to reach your business goals, but you’ll be happier for it! Reminder #2: Mom entrepreneurs can take advantage of their flexible schedule to share great times with their children… Robbie Motter of Contacts Unlimited was a single parent who raised her three children (who are now grown). Robbie loves being an entrepreneur. Robbie says, “If I had known then what I know now, I would have left the corporate world earlier so I could have had the quality time with my older children that I had with my younger daughter.” Robbie took a break from work each day when her daughter came home from school for about an hour and a half so that they could spend time together before returning to work and while her daughter completed her homework. Robbie recalls that it was she had some hard challenges when she first became an entrepreneur. It took awhile for things to start to move forward and times were tough. Her two older children were not too supportive at first, as they were use to the big corporate paycheck. Many times they told her to go get a regular job, but she was determined to make it work. Before long it did, and they truly loved having her work from her home office. They shared great times together. Robbie used to have her children help in the business. They stuffed envelopes or jobs like that, and they loved it. As they got older, Robbie let them answer the phone so they could learn the right way to do that. Robbie’s son is an entrepreneur. He and a partner have owned a company for 18 years. Her two girls are not entrepreneurs--they like having a big paycheck, the perks, and all the benefits that a corporate job provides. Today all of her children are very successful, own beautiful homes, and make a fantastic salary with lots of benefits. They do not take their work home with them; they leave it at the office and come home to be totally with the family. Robbie’s Top Tips: When you run your business, and if you work from home, make your children feel a part of it. When it is family time, stop worrying about business and give your children quality time.

         
    My little online experiment

     

    So Christmas is now behind us and now it's all about what you can accomplish in 2008. Personally I want to build a career in charity fund raising and I don't mean standing in a shopping mall shaking a bucket to pull in a few pounds (or dollars). I'm thinking much bigger. I think the internet is vastly untapped as to it's true fund raising potential. 'Old School' ways of thinking will have you believe that unless you're a registered charity with a website you shouldn't do it. Who made the rule that says you must give & get nothing in return apart from the knowledge that you just did a good deed. Money is just a tool invented by the human race to make life easier (if you have it). It's not how much you've got but how you use it that matters. I just don't think you have to be another Gandhi or Mother Teresa to do the right thing. So here's my little online experiment in helping people. It's not about making me rich. It's not about making you rich either but what if it could give you some cash you wouldn't have otherwise had to give to your own favorite cause while helping me raise cash for my favorite cause? Too me a forced matrix program script is just a tool to be used as a fancy calculator to sort out who gets what amount of cash. As a little online experiment on the internet, I want to build a mailing list of like minded people, the more on the list the better for everyone involved. Instead of using the script to give you an affiliate link to promote I want to just offer the list members the chance to get in at the top of the matrix each week. How can I do this? Simple! Just delete the scripts data base each weekend do it all again from scratch the following week, my little online experiment. So now I hear you all gasp 'Arrrrr MLM scam!' What a small minded person, not really capable of embracing change, this makes you! The matrix script is just a tool! It's how you use it & what you do with any money you make that makes ALL the difference! For almost a year now I've been figuring out how to create a way of self funding a fully legal, UK registered CAF Trust fund to create a gift that keeps on giving by donating the trust funds interest to charity supporting the victims of Dar fur. The big problem is what comes first? the chicken or the egg? By this I mean I've got to raise Ј10,000 minimum (about 22,000 USD) to setup the trust fund with. Sure having a trust fund in place already would give me a lot more credit to start with but well, I'm just not that rich and I've got bills to pay like everyone else. Like I said before, it's not what you've got but how you use it that defines who you are. So far it's taken me 2 months to build a list of 60 people interested in how I want to do things, no where near enough yet. There's just no point in starting to use the script before I've got at least 20,000 on the list. There will always be power in numbers and thanks to the information now available to the public through the internet politicians have no choice but to take action on foreign policy. Don't ever forget a politicians job is to sell themselves so they get elected and a pay packet out of all our taxes. Mostly they do this by offering what the majority wants them to do as an elected official. In the mean time people die as the painfully slow 'political dinosaur's' of the world come around and start to make changes. I have absolutely no interest in becoming a politician. What a frustrating waste of my time dealing with other politicians would be. I'd rather be out there on the ground seeing that aid is getting to those who need it. Let's face it, in the 21st century it's just embarrassing that poverty still exists around the world. I want to do my bit to raise cash & help reduce that poverty. Food & medical aid still costs money, including getting it to where it's needed. To me there are 2 types of poverty. Third world poverty as above and what I call first world poverty. First world poverty is where you struggle to pay ever increasing mortgage costs or rent and basic utilities. This is becoming a bigger problem in our credit fueled western world lifestyle. It's because of this that it's time for a different type of fund raising program, one that aims to give some help to everyone. My little online experiment will do just that. That's it, I've said my piece. You either get it or you don't. The worlds getting ever more complicated. It's time to keep it simple. generally you get more done that way. The basis of this article forms my website's homepage and additional thought's & ideas get added regularly. If you would like to help out with my little online experiment in helping people please visit my site & sign up.

         
    Necessary tasks you may want to delegate

     

    As a business owner, time is of the essence. Running a business is demanding. You are either performing the day-to-day administrative work or you're working in your business, attending to your customers or clients. What is the best use of your time? The answer is simple. Your time should be spent doing what you do best. The day-to-day administrative tasks can be delegated. It's so much easier to review work than to do it yourself! Here are some suggestions to get you started. 1. Secretarial services. Don't do this yourself. From answering phones to managing your correspondence, hire a secretary or a service to handle these everyday, but very time-consuming tasks. 2. Research. Need to find market data, special software for your business, or research a particular issue? Don't spend valuable time doing it yourself. There are online researchers, virtual assistants, and even college students who have access to the latest and greatest research databases and tools. 3. Word processing. This is a wonderful task to delegate. You can make it even easier by recording your thoughts and then passing a tape or digital recording to an administrative assistant for processing. Word processing assistance is especially helpful if you're producing large volumes of books, workbooks, or other word-intensive products as a part of your business. 4. Microsoft® PowerPoint® presentations. Why be a Microsoft guru, mastering each and every one of their products? Instead, delegate the preparation of your presentations. It is far easier to critique the finished product produced by someone skilled with the software than to try to create it from scratch. 5. Data processing/database management. Managing a contact database can be a time-consuming process even if you have a small number of clients or customers. Instead of processing add, change, and delete requests yourself, spend your time adding new customers to your business. You may even be able to find a system that, once set up, automates people coming into your business through your website or eZine. 6. Desktop publishing. Publishing a newsletter or eZine? Sounds easy, but it's a lot more time intensive than you might think. Crafting a publication involves writing content, formatting, editing, and distribution. It may be time to call in a ghostwriter and/or an experienced desktop publisher to help with these projects. 7. Web design and maintenance. If your online presence is a critical part of your business, and especially if it is more complex than most (using shopping carts or interactive databases), ask someone with technical expertise to help you out. While it's a good idea to understand all aspects of your business, even how to manage your website, hiring a helper is the best solution in terms of productivity. 8. Shopping cart setup and maintenance. Setting up a shopping cart to sell your products and services is easy to do. But, easy as it is, it can be extremely time consuming depending upon the number of items that you sell. Teach someone how to do this for you. You'll be happy that you did. 9. Transcription services. Going hand-in-hand with word-processing, transcription should definitely be delegated. As an added bonus, the project you have transcribed might turn into a product you can sell to your clients or customers in the future. 10. Bookkeeping. Accounting is probably one of the most frustrating tasks of any business owner. Of all of these areas, it is definitely one that should be farmed out to a professional. At a minimum, keep your records organized in folders so that they can easily be transported to and handled by your accountant. 11. Purchasing services. Are you spending considerable time buying office supplies, collateral or even products and services, which you resell to your customers? If so, find someone skilled in purchasing and negotiation. They'll help you find what you need much faster and probably at a lesser cost. 12. Writing & editing services. Unless you're a talented writer and editor, you'll want to hire a professional. The written word, whether it's in an article, in a brochure, or on your website, speaks volumes about you and your business. You can't afford anything less than the best when it comes to writing. 13. Marketing services. As a business owner, you need to do a certain amount of marketing for your business. But when it comes to publicity, advertising, or other types of paid marketing efforts, hire a professional. They have the contacts that can make a difference to your future success. 14. Personnel services. If you have employees, that means doing payroll and possibly administering benefits. The paperwork, alone, can be overwhelming, not to mention the rules and regulations related to tax and legal compliance. Don't even think of trying to do these tasks yourself. You'll save yourself a lot of frustration. 15. Personal errands. As a business owner, hiring someone to do your personal errands will free you up to work in your business and will provide you that much needed break when you just want to be at home relaxing. Having someone to do personal errands like renewing subscriptions, handling snail mail, dry cleaning, and even providing food delivery or in-house chef services can free up considerable time that can be spent doing things that you most enjoy. © Copyright 2005 Alicia Smith

         
    Need more free time

     

    A professional VA can offer all of the benefits of a traditional administrative assistant, without the need to provide a “space” for him/her. Most VAs offer a wide range of services to pick and choose from; ranging from the basic, such as telephone answering; to the more advanced, such as web hosting and meeting room hire. In this way, how you benefit from a virtual office is entirely up to you and the sky is literally the limit. Who does this benefit? Virtual offices can benefit a wide range of users. This ranges from an e-based entrepreneur working from home seeking a professional image to an international concern looking for a short-term solution to increase global business. Not sure if you need a VA? If you are a solopreneur or entrepreneur the only sensible solution to growth is to add to your staff. Yet, you may have a lot of reasons that prevent you from hiring an “on-site” assistant, even if you need one. Wouldn’t it be great if you had an assistant that was always there for you, when you need them? Meet the virtual assistant, a new concept that provides great solutions for small businesses and helps to give your new endeavor the manpower it needs Salaried workers are much more of an immediate expense. You must provide a workspace, computers, supplies, and, you also have federal and state tax obligations. Don’t forget about benefits - sick leave, vacation time, holidays. Did you know the true cost of an “on-site” assistant is possibly double the cost of their yearly salary in terms of benefits and liabilities? Not to mention the “personality issue” of sharing physical office space with someone whom you are probably with more than your family! If it is not a “perfect fit” it can be a strain. Today’s Virtual Assistants are used to getting along with a wide variety of personalities due to the global nature of their businesses. We have a “built in” office manager hat that we wear which enables us to handle many difficult situations.

         
    New business trading equity for cash

     

    You awake in the middle of the night with a business idea that will change the world. The only problem, of course, is you need money to get the business moving. What do you do? Investors and Equity Practically every economy is built upon the backs of small businesses and entrepreneurs. Every day someone comes up with an idea that will make a great business. Every day, these same people wonder how they will come up with the cash to get the business off the ground. The classic answer is to look for investors, and this is where things can go bad. If you’re seeking investors for your business, you are going to need to form a business entity. Corporations and limited liability companies are the most popular, and give you the ability to trade ownership interest in exchange for cash contributions. With a corporation, investors will buy shares in the corporation. With limited liability companies, the investors will buy membership interests. Regardless, this traditional exchange gives rise to a problem common among small business owners, to wit, giving away too much equity. From Joy to Misery A common mistake made by new business owners is to give away too much equity when getting initial cash contributions. This occurs because you let insecurities impact you evaluation of the business. Instead of giving away two percent of equity in exchange for $50,000, you give away ten percent. Let’s look at an example. I start a business selling digital gadgets. I prepare my business plan and realize I need $250,000 to get everything up and running. I have $50,000, but need to find the rest somewhere. I form a corporation with 1,000 shares and start approaching potential investors. I offer 100 shares for $25,000. I find five investors that give me $125,000 in exchange for 500 total shares. In summary, I now have $175,000, but have given away half the equity in the business. While I am not happy about this, I am still so enthused about the business idea that I shrug it off. The business gets rolling and I start selling gadgets like a madman after one year. This gives rise to a serious cash problem. I am getting orders, but can’t fill them because of cash flow problems. To make a proper go of the business, I need another $100,000. Where am I going to get $100,000? My business is only one year old, so a bank won’t touch it. My investors haven’t seen penny one back, and are unwilling to put more money in. My only option is to sell another 400 shares for $100,000. Fortunately, I sell the shares, raise the money and stay in business. However, there is a major problem. In raising all of this money, I have now sold off ninety percent of the equity in the business. I am left owning 100 shares and only 10 percent of the business. This is going to severely impact my physical, emotionally and overall motivational well being. Slowly but surely, I am going to become very bitter. It was my idea and I am doing all the work! It isn’t fair that I only own 10 percent of the business! On second thought, this impression may come on very quickly. Regardless, the business is destined to experience major problems because the primary motivating force is no longer motivated. Unfortunately, many people with business ideas run into this problem. If you are starting a business, guard your equity at all costs. Selling equity should be a last resort. Try to get loans or trade profit sharing in lieu of selling equity. If you must sell equity, do so only in small percentages. You do not want to the small business person in the example above.

         
    New concepts

     

    : We all love to dream up new concepts, don't we? Here are a few from my imagination. They are not patented or trademarked, so take them and call them your own if you want. A human kite: Years ago I used to design and build kites while living alone in Michigan's Upper Peninsula. I always thought hang gliders are like kites. Since there isn't much altitude in Michigan, I wondered if you could use them in high wind, instead of from high hills. If tied to the ground by a strong line, you would rise up into the air in a hang glider, just like a kite. When done, just detach the line and glide back down. Magnetic paintings: Made from a flat "canvas" of magnetic material, and an assortment of many colors of iron dust or small shavings. Just apply the metal dust carefully to create any picture you can imagine. Something like a Buddhist sand mandala, it could be very intricate and beautiful, but slightly more permanent. It could even be hung from the wall. When you want to start a new painting - wipe it clean. The colored metal dust couldn't be salvaged and separated, but this is a good thing from a marketing standpoint, since users have to buy more in order to "paint" more. New Concepts For TV Shows Real survival show: I liked "Survivor," but the drama was too much. Of course it sells the show, but there are other markets too. Why not start all contestants on an island or other isolated locale, and let them quit when they want, but give them no assistance otherwise. No special competitions are necessary, because the competition is to see who best survives. This could be determined by who loses the least weight, for example. This certainly indicates some skill in obtaining food. A street survivor how: No things, money or ID, and don't even let them use their real names. Find out who can survive, and have the best situation (maybe even a job?) a month later. Any breaking of laws disqualifies a contestant. If there are real success stories, the resulting show might be a great instructional video to inspire those who are really homeless to help themselves more. New Concepts In American Justice Don't let criminals exercise. Do we want violent offenders to come out of prison stronger and therefore more dangerous? We can't stop exercising in cells, but why provide equipment to help them get bigger muscles? Let violent offenders be out of shape. Doesn't that make more sense? Use video testimony. At almost every trial, lawyers say things they shouldn't say, and the judge tells the jury to disregard the comments - as if they can. What if witnesses were questioned and cross-examined on video tape. If the jury only saw this, any parts with sustained objections could be edited out. Problem solved. Of course, all parties could be present during the viewing if they wished. New Concept For A Business Balloon rides are somewhat dangerous, and very dependent on weather, especially the speed and direction of the wind. Because of these reasons, they're not cheap. but what if someone offered rides that didn't take you far, but gave you a view from high above? Why not have "tethered" hot air balloon rides? The balloon can go up a thousand feet or more, then be pulled back in. This could be safer and more reliable, and be profitably offered at a lower price. Hopefully you found at least one interesting or entertaining idea here. Maybe you'll even be inspired to come up with your own new concepts.

         
    New gadgets six ideas

     

    : It is possible that some of these new gadgets already exist in an inventor's basement or garage somewhere. One or two may even be patented, but then again, maybe not. Probably most things are dreamt up ten or ten thousand times before someone actually does something with the idea. The dreaming is more fun for some of us, so feel free to do something with the following. Magnets For Windows These signs would be a new advertising gadget. Already, thousands of businesses use large flexible magnetic signs for their vehicles, with the company name and logo on them. However, these can only be used on metallic surfaces. To to stick to car or building windows, they need to have a similar magnet or steel mesh material that is placed on the other side of the glass, to hold them in place magnetically. This may not be a patentable product, but the first to trademark a catchy name and market them widely might do well. Invisible Walls This new gadget would just be fun. Make a wall covered with properly placed cameras, and use the other side of the wall as the projection screen for these cameras. The effect would be that of looking right through, into the other room. It would be like an invisible wall. Although I'm not sure what the practical applications might be, an "invisible ceiling" would provide a nice view at night. Barking Dog Alarm There are already all sorts of new home security gadgets out there, but there is room for many more. One not-so-new idea is the motion-sensors that set off an alarm. The problem with these is that a criminal may still enter the home, either intending to be in and out quickly, or to turn off the alarm. On the other hand, if the sensor triggers a realistic recording of several large dogs barking, he may hesitate to go further. Helium Balloon Cell Phone Antenna Often a cell phone won't work simply for the lack of elevation to get it above interfering hills and other obstacles to the signal. This new gadget would be a simple wire antenna that could be attached to any helium balloon. With light wire, the balloon might lift the antenna 50 or a 100 feet into the air to pick up that signal. A mylar balloon and a tiny canister of helium could be marketed with it too. Kitchen Towel Gadget My Kitchen towel gets in the way when I hang it on the refrigerator handle. However, if it had a small but strong magnet sewn into one corner, I could "hang" it anywhere on the refrigerator, or on any other steel surface. Easy Push Door Knobs Some people have trouble turning a door knob. Why not make a door knob that is simply pushed to open the door (or pulled if the door opens out)? Hopefully I am too late, and this is already being sold somewhere. Making life easier for those who are disabled and/or older is a great area for inventing new gadgets of all sorts.

         
    New innovations

     

    : How do you produce ideas for new innovations? Here is a great technique: Extract some basic ideas from existing products and inventions, and then apply them to new areas. If you look at a thermostat, for example, you might think "A device to control the indoor climate." This is certainly an idea that can be used to come up with something new. You have to look a little deeper, though, if you want more creative innovations. Continue with, "It measures the temperature and then, using that information, turns the heater on or off, to keep the house comfortable." Continuing even deeper, we see that it uses measurement in order to control something. Let's work with that concept. With the technology that exists today, we can make things happen automatically, according to almost anything we can automatically measure. This is a powerful concept that can and will lead to some fantastic new innovations. In an article on thought control, I pointed out that since we can measure the changing activity of the brain as we change the nature of our thoughts, we can already build a device that is operated just by our thoughts. Even with the technology of thirty years ago, we could have had a TV turn on whenever one's pulse rate increased. If you then trained yourself to increase your pulse rate by thinking certain thoughts, you could turn on a television with your thoughts. Other New Innovations To have many such ideas and new innovations, just look around and start applying the basic concept of control by measurement. Looking at the television, and thinking of measurable things related to it, time is an obvious one. There are "sleep timers" that turn the TV off after a certain amount of time, but how about a device that only allows the TV to be on for three hours in any given day? Kids can watch when they want, but they won't be able to watch too much. A thermometer gives me the idea for a sign that changes it's message according to the weather. A restaurant, for example, could have the sign say "Come in out of the cold," when it was cold, or "Cool off with an ice cold drink," when it was hot, and so on. I'm sure there are other businesses whose messages would be variously more or less effective according to the weather. When I look at the traffic, I see that speed can be measured. There are already those radar signs now, that tell you how fast you are going. There could be a sign down the road that says "Slow down, we're taking your picture," or the radar gun could turn on a fake siren whenever someone goes ten miles per hour over the limit. The idea is simply that their speed triggers something that will hopefully slow them down. Yesterday I saw a new invention that measures your girth. So what does it do with that information? Well, if you hold your stomach in, you get clear sound in your headphones. If you let your stomach hang out, the music is low quality and loses volume. While I'm not sure how well this stomach-exercise-motivator will sell, it does show how using the concept of measurement to control can lead to very different innovations. In fact, any application of a basic concept to new areas can lead to new innovations.

         
    Nine ways to exit your company

     

    As many of you may remember, singer Paul Simon said there are 50 ways to leave a lover. If you are a business owner thinking about how to leave your business you have nine options to consider. Here's a brief summary of these options. 1. Sell or give your company to a family member; 2. Sell your business to one or more key employees; 3. Sell to your employees (ESOP); 4. Sell your business to other shareholders; 5. Sell to an outside third party; 6. Bring in an outside investor and keep a minority interest 7. Go public; 8. Hire a management team to take over and become a passive owner; or 9. Liquidate your business. Determining exactly which option is right for you is a challenge that many business owners put off until it is too late. Opportunities pass with time. If you wish to "leave your business on your terms and on your time table," you need to be proactive about understanding your exit options. We recommend that you follow a four-step process to determine which exit option is best for you. This process will ensure that your exit options are consistent with your personal goals and take into account the realities of your company and the marketplace. Choosing a Path Step One: Set Personal Goals. You need to identify your most important objectives; both in terms of financial goals ("How much money do I need from the exit to ensure my family’s financial security?") and in terms of non-financial goals ("I want the company to stay in my family," or "I want to my key employees to be rewarded during the exit"). Establishing well defined and written objectives is the first step in the exit planning process. Doing so in advance of your exit gives you and your advisors the time necessary to make your goals a reality. Step Two: Make Sure Goals are Consistent. With the help of your advisors you need to determine whether your goals are consistent with each other. Very often this is not the case. For example, many business owners want to receive all cash at closing when they exit their business. At the same time the owner may want to transfer the business to a family member or a key employee. Unfortunately, these two goals may be mutually exclusive. Family members and key employees often do not have sufficient capital to structure a transaction this way. A great deal of stress and heartache can be avoided by addressing these kind of issues early in the process. Step Three: Understand Value and Salability Issues. Once you have defined a set of consistent objectives, you need to understand the market value and salability of your company. This analysis is important in that it will provide you with further direction and can eliminate certain exit options. For example, if the value of your company is below what you feel you need to support a comfortable lifestyle after your exit, you may decide to take some time to enhance the value of your business or to do further financial planning to ensure you clearly understand your financial needs. In addition to understanding the value of your company you also need to understand how salable your business is. Value and salability are not always the same. Salability determines how quickly a business will sell and how much leverage a business owner will have when negotiating with a buyer. Salability depends to a large extent on external market conditions. External conditions are things that are out of your direct control like business, market or financial conditions. For example, the option of selling your business for cash to an outside buyer may be eliminated because of a downturn in your business or industry. We recommend that you work with an investment banking firm to determine the value and salability of your company. Only an investment bank that is actively talking with buyers can give you an accurate read of the marketplace and a "real world" sense of the value and salability of your company. Step Four: Understand Tax and Legal Implications. The final step in determining the best exit path for you is to a path is to evaluate the tax and legal consequences of the exit options that are available to you. This evaluation will include factors such as legal structure of your business entity, how its ownership is structured, exiting legal agreements, as well as any changes that must be made. For example, if a transaction involves a sale of assets and the company is a "C" corporation, there would be significant adverse tax consequences. Good advice from your CPA and attorney can help minimize the taxes you would otherwise have to pay. Using this four-step process, you will be able to narrow the list of exit routes to determine which one is best for you. The important thing is to start early.

         
    Nursing agency business for nursing entrepreneurs

     

    It’s no secret that the United States has a nursing shortage, one that promises to grow to alarming proportions. Too many nurses are retiring, and too few are entering the profession. To compound the problem, within the next 5 to 10 years, over 76 million Baby Boomers are scheduled to retire from the workforce, with only about 44 million Generation X'ers available to pick up the slack. This will soon place unprecedented demands for services on a health system that is already stretched thin. This shortage of allied healthcare professionals, especially nurses have a created a new boom to the nursing agency registry business, supplemental staffing agency for medical professionals, permanent placement medical recruiter, or starting a business in homecare and staffing pool. The medical staffing industry will continue to grow because of the upcoming baby boomers, and the current supply of nurses are dwindling. The average age for nurses are in the forties, and they are not being replaced by the new generations. Entrepreneurs have made lucrative business in nursing agency, nursing registry, homecare business, medical recruiter recruiting, or as independent contractor in their own field. The time is now for entrepreneurs to start a nursing agency, nursing registry business, operate a homecare business, or as a medical recruiter or just become an independent healthcare contractor. By being an independent healthcare contractor, you are bypassing the agency and are self employed. Healthcare facilities are the clients. Homecare are regulated by all levels of goverment from local to fedeal level. Homecare levels of regulations depends on the category of service provided to clients. Homecare services ranges from providing just companions or the more medically needed clients such as terminally ill clients. Homecare services can be in the form of social service, non-medical, and medical services.

         
    Online business work from home entrepreneur

     

    Do you remember when you first heard of Ebay. Online auction place. Who thought back then it would end up being so big and so many people would be using this auction site. Most of us are aware that you can auction off just about anything on Ebay. People are making serious money selling products online at Ebay. It is also a great resource to find those hard to find items. Have you checked into the many possibilities on the web to making some serious cash? There are so many ways to work from home and run your own business. You can buy products wholesale and setup your own internet store. If you do not want to stock items you can find companies that will drop ship your products for you. There are even programs you can buy online that are a complete system that shows you how to do this. Did you ever think you could get your own business up and running for roughly under $100 dollars? You can make money selling ebooks, writing articles for websites, creating websites... There are so many ways to make money on the internet today. It just takes a little research and then time on your part to really learn the best ways to promote your idea and become knowledgeable about all the different ways to advertise online. Do you have what it takes to become an aspiring entrepreneur to start and manage a home based Internet Business? Do you have the Entrepreneur Bug? Seems with the growth of the World Wide Web more people are becoming entrepreneurs. Just what is an Entrepreneur? There are many definitions the most simple is a person who owns, operates, and takes the risk of starting a business venture. An entrepreneur can also be known as an inventor. Do you need to invent a product to be an ruthless entrepreneur? Absolutely not, just take an already existing product or idea and create a business and profit from it. Organize a business venture and assume the risks for ite up with your own niche to get clients, close deals and start making some serious money. What ever you decide to get involved with you should make sure you really know your product inside and out. What are you waiting for? Start brainstorming today and make your dream of being independently wealthy a reality.

         
    Partnering how it benefits your computer consulting practice

     

    Partnering is really the only way that you can do virtual IT the right way in small business computer consulting. It provides three extremely compelling benefits. Partnering Advantage #1: You Can Broaden Your Bench You can broaden the skills you offer to a potential client and your existing clients, and provide a more complete solution. This is absolutely critical if you’re selling to non-technical small business owners that don’t put up with finger pointing. If they’re not technical, they don’t want to have six different tech providers. They don’t want to have six different VARs in the Rolodex. The finger pointing and the accountability shirking will drive them absolutely nuts. They need someone who can come in and take responsibility end to end and take ownership of the problem. Either you handle it in-house or you find the resources to get it handled. So the partnering with non-competing tech providers is going to provide a very important benefit for delivering on that virtual IT. Partnering Advantage #2: You Will Quickly Broaden Your Sales Force Partnering is also going to help you broaden your sales force very quickly and effectively. If another technology provider who’s the incumbent on an account recommends you for a particular part of that role, you’re just about sold. That’s as golden of a referral that you can get. In a lot of ways, that’s even stronger than getting referred by their accountant, because they trust the technology provider, no matter who is the generalist and who is the niche provider. It’s not about price. It’s not a price-sensitive buyer. It’s about your coming about as highly recommended as you can possibly get. So the second huge benefit here is you get the opportunity to get in front of your partner’s clients when they bring you in, Partnering Advantage #3: One Fifth of Your Income Can Come From Partnering But even more importantly, 21 percent of annual revenue from most of the consultants we work with is coming from partnering. So if you don’t want to leave this 21 percent of revenue on the table, it’s time to really get serious about partnering for more profit. Copyright MMI-MMVI, Computer Consultants Secrets. All Worldwide Rights Reserved. {Attention Publishers: Live hyperlink in author resource box required for copyright compliance}

         
    Partnering joining a formal partner program

     

    Formal partnering programs. They can be good, bad, and indifferent. They just aren’t that huge. In this day and age, most people aren’t choosing to join partner programs just based on the benefits that they looked for 10 years ago. Formal Partnering Programs Benefits These benefits include: high margins, dedicated partner representatives, unlimited toll free support, four percent MDFs, market development funds, 30-day end user money back guarantee, no quotas, no inventory stocking. If, however, you are moving towards the service model, formal partnering doesn’t do as much for you. Which Formal Partnering Programs are Best? VAR BUSINESS, a trade magazine, does all kinds of studies and surveys on the best partner programs. It rates them constantly on vendor satisfaction on all different issues: technical support, sales support, margins, business opportunities, perceptions of small business clients. They’re an incredible resource for looking into different partner programs. Naturally you can read about the big ones. You can read about the Microsoft Certified Partner Program, and IBM Business Partner, but you’ll also find out about some lesser known programs and what’s going on in general. What you will find is that not a lot of consulting firms are putting a ton of stock and energy in advertising their vendor relationships anymore. The tide is definitely turning more towards advertising yourself, your company, your brand, the expertise and service you bring to the table as opposed to advertising the brands that you represent. Are Formal Partnering Programs a Fit for You? Before you decide whether you want to invest any time or money with any particular programs, I would first think through what services and solutions you want to provide for your customers. These partner programs involve both a financial and time commitment. Be certain that the partner program offers your clients what you want to offer before investing! Copyright MMI-MMVI, Small Business Computer Consulting. All Worldwide Rights Reserved. {Attention Publishers: Live hyperlink in author resource box required for copyright compliance}

         
    Patel shines with sunbelt business brokerage chain

     

    WOBURN, Mass. – Satish Patel has big plans for his Sunbelt Business Sales & Acquisitions franchise in New England, which he started in 2003. Patel, the chief executive officer and president, has grown his franchise to four offices in Massachusetts, and he is looking to expand to another six offices over the next three years. Sunbelt Business Advisors Network LLC is a national business brokerage firm based in Independence, Ohio, that helps people buy and sell businesses. Sunbelt has 300 offices in the United States as well as in 30 countries and employs 1,500 business brokers. In February 2006, Sunbelt was acquired by Merrymeeting Inc., an investment firm that focuses on acquiring and developing franchised brands. Sunbelt focuses on: general businesses with gross sales of less than $1 million and fewer than 20 employees, as well as franchise re-sales. Typical brokerage deals are in the $3 million to $30 million range. Sunbelt brokers the sale of about 4,000 businesses annually. Sunbelt was founded in 1978 by Edward Pendarvis, who remains chairman emeritus. Pendarvis first met Patel at a Sunbelt franchise meeting and said he is in the “upper tier” at Sunbelt because he is able to broker some of the chain’s larger deals. According to Pendarvis, the best brokers are those who have experience in business and understand it, and what makes Patel a good businessman is that he is good at dealing with people. Patel is originally from outside of Mumbai and came to the United States about 20 years ago. He has a degree in international management from the Maharaja Sayajirao University in Baroda, India, and an accounting degree from California State University, Fullerton. He is also a charter member of The Indus Entrepreneurs. He is a certified public accountant and after about 10 years in accounting, he became his brother’s chief financial officer at his software start-up, helping sales reach $10 million and arranging for the sale of the company in 2000. He became involved in helping his wife’s small chain of retail stores, which grew to about a dozen, and was later sold to a public company. Patel said when he and his wife were looking for someone to represent them in selling their retail chain, he could not find anyone who was qualified to handle a large transaction like this, or someone he could trust. This stuck in his mind, and he began researching and looking into this business sector. Patel said he likes the broker business because it is challenging, complicated, and there are not many good brokers out there. He added that being a business broker is about the process, through which finding the right buyer can reap the maximum value for a company. “Our goal always is to find multiple people bidding on the same company and as a result, we try to get the maximum price for the company,” he said. His ability to do so has led to success. Since starting in 2003, he said the business has grown every year, and he wants to become the premiere business broker and merger and acquisition company in the area. Currently, Patel’s Sunbelt franchise business has about 25 people working on the business brokerage side. Patel’s Sunbelt franchise is based in Woburn, Mass., with offices in Worcester, Boston and Stoughton. Patel owns the rights to the whole New England territory and wants to establish offices in Maine, Vermont and New Hampshire. When he bought the New England territory, he said it was underdeveloped at the time, but he is changing that. “Our goal is basically to open about 10 offices throughout the New England territory. And that’s our territory,” he said. Patel said his Sunbelt franchise focuses on smaller businesses, which account for 50 percent of his franchise’s revenue. The other 50 percent comes from larger deals, which is the mergers and acquisitions side of the business that focuses on deals worth over $5 million. The fact that Patel’s Sunbelt franchise also focuses on mergers and acquisitions puts it at an advantage since few similar companies have divisions for business brokerage, as well as mergers and acquisitions, he said. The difference between a merger-and-acquisition buyer and a business-broker buyer is that a merger-and-acquisition buyer has a more strategic outlook. For example the goal in a sale could be to add another product line. A business broker wants to buy a business that will give clients a job running a business such as a convenience store or pizza shop. Patel added that by being able to accommodate both types of buyers gives his business has an advantage because. Patel said that it normally takes about nine months to sell a smaller business. He added that his Sunbelt franchise is also selective about which businesses it chooses to represent because they work on commission. If a business is does not have the potential for sale or is overpriced, Patel will not take it. As a long-term goal, Patel said he wants his franchise to also serve as an investment banking firm that provides small - to mid-sized businesses with services like consulting, financing and help to make the transaction move smoothly even after the business is sold, whether someone is interested in selling or acquiring. Patel said he sees it as a one-stop service for small - to mid-sized companies. According to Patel, his Sunbelt franchise has sold hundreds of businesses since it started. Last year, the franchise received an award for closing the largest deal of any Sunbelt office. Patel said the deal involved a building material supply company that was sold for over $50 million. Patel also owns part of Sunbelt’s India territory, and he plans to open an office in Mumbai and possibly another in the state of Gujarat He said there are a lot of cross-border transactions taking place right now between Indian and American companies, and he wants his franchise to become the main officer to deal with these transactions through Sunbelt’s network.

         
     
         
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