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6 Commonly Overlooked Risks When Starting a New Business

6 Biggest Risks of Owning a Business – 

 

 

Personal Liability: For any small business owner, one lawsuit could potentially result in the loss of a business, or worse – the loss of personal finances and assets. Because sole proprietors are individually responsible for any business claims filed against them, it is absolutely necessary to seek protection with personal liability insurance.

Insufficient Funds: As … Read the full post »

The 1 Percent Rule: Why a Few People Get Most of the Rewards

Sometime in the late 1800s—nobody is quite sure exactly when—a man named Vilfredo Pareto was fussing about in his garden when he made a small but interesting discovery.

Pareto noticed that a tiny number of … Read the full post »

7 Things to Consider When Selling Your Business

Consideration Number 1 – Not Advertising Your Business Correctly. In order to sell the business it must be advertised. Before you select a business broker, ask them about their advertising, the cost, the coverage, the expected responses and what markets they target. Do they simply put your business on 3 or 4 sites and hope for the best or are they more aggressive with placement and work hard to put … Read the full post »

Common Business Sales Myths

The typical business owner will only sell a business once. Understanding the complex process involved will help produce the best results, but don’t fall prey to the myths that can derail or seriously affect a potential sale.

Myth #1 – I Can Sell It Myself

The market approach sets a value based on the values of other similar businesses that have been sold. Setting the market value involves researching the sale prices … Read the full post »

Franchisees are too optimistic about risk – New Research.

Franchisees don’t do their homework and are too optimistic about risks according to a study.

Franchisees are unrealistically optimistic about risks of setting up their business, even after those risks have been disclosed to them, our research shows.

We tested this unrealistic optimism by surveying 205 current US franchisees from 26 brands. We chose the US because there is publicly accessible data about the identity of franchisees there (in Australia this … Read the full post »

The Daily Routine Experts Recommend for Peak Productivity

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By 1918, Charles M. Schwab was one of the richest men in the world.

Schwab was the president of the Bethlehem Steel Corporation, the largest shipbuilder and the second-largest steel … Read the full post »

What Defines a Serious Business Buyer?

Individuals who desire to purchase an established small business must be well prepared before the search process begins.  Well managed, profitable and successful businesses with a bright outlook for the future are in short supply and very high demand.  Business owners and business brokers alike have little patience and interest in wasting their valuable time with buyers who have not taken the appropriate steps to demonstrate that they are fully … Read the full post »

The “Commission” word…………

Is the business brokers commission the most important aspect of the transaction for you, the vendor?

Will you sign up with the broker who has the lowest commission?

Why is the commission important ?

Do you fix the commission or set a percentage?

What about those business brokers charging No Commission, how does that work?

All very good questions aren’t they? Well as a business broker who only … Read the full post »

What are the important factors to consider when appraising a business?

What are the important factors to consider when appraising a business?

Thinking of selling your business? Not sure where to start? How do I know what my business is worth?

positioning-business

As a business owner I am sure you have thought of, if not asked these very important questions at one point in time. It is not the intention of this article to … Read the full post »

5 Things Mentally Tough People Don’t Do

Are you mentally tough enough?
1) They don’t feel sorry for themselves
They understand that complaining doesn’t make the situation better.

They know that people won’t treat them the way they want to be treated, circumstances might not be ideal, and they will experience adversity; however, rather than complain about the negative aspects of their situation, they focus on what they want to happen and what they’re going to do about it.

 
2) They … Read the full post »

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