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Add You - The Key To Buying A Business - Getting Good Deals!
With the country’s immigrant population booming, the need for bilingual jobs continues to increase. But how do you single yourself out from the crowd and effectively market your bilingual skills? An average of 880,000 documented people immigrate to the United States each year, and corporations are struggling to meet the needs of a progressively multi-lingual population. Bilingual personnel are more valuable than ever; the flip side is that a large portion of the new consumers are also bilingual jobseekers. As a bilingual jobseeker
Look at the real estate investor. When he buys a house for investment purposes, he looks at the possible land uses (to see if the lot use can be changed), the amenities, the general rental of the area, the possible tenant mix and so on.
The business buyer looks at the accounts to check cashflow situations. He wants to see if there are inefficiencies that he can work on to increase the value of t
Many home-based business opportunities promise that you will make a six-figure income without doing any work … just bring in three people and watch your money grow… become a millionaire in two years… We have all heard the promises. As jaded as we have become, we are still looking for a business that we can work from home. But we don’t want to have to stock product in our garages, have “home parties” or recruit our friends and families.One home-based business that is truly a profession is grant writing. In fact, grant
Some of us then decided to take the natural step and “just do it”. We would then proceed to dip into our savings, borrow money from friends and financial institutions, or perhaps sell some equities we are holding on to. And we merrily register a company and start working! The scenario sounds really familiar!
That was me! I sold off my home to raise capital for my ventures into fund management, music production and education. I registered the company and began working to build something I can call my own.
The thought never occurred to me that one can buy a business, instead of starting from the ground up. But coming to think of it, even if the thought did occur to me, my pride (and cash position?) would not allow me to do so. I want something to call my own!
And that is precisely why many of us will never consider buying a business. A matter of pride. Of course, there are other reasons.
- Staff Problems: We are inheriting staff that has never worked with us, that has been answering to someone else. Of course, those of us who are newly employed by a company or are posted to a new division also have the same problems. And how do we know we won’t get the same problem with staff we newly recruited?
- Hidden creditors and debts: This one is a potential trap to watch out for. Experienced business buyers know how to get over this one, like getting the seller to make a Statutory Declaration (which means you can be punished by law for declaring falsely), or co-signing or any number of tricks that a good business broker should be able to help you with.
- Business Ill-will: Again, another problem. What if many suppliers refuse to work with the company, or many customers would never want to even hear of the name of the company again? Or some influential “terrorist” has been starting a hate campaign because of a faux pas in customer service by a staff in the past? But there again, a good business broker should be able to help you with that, to make sure you don’t walk blindly into a deal!
Look at the real estate investor. When he buys a house for investment purposes, he looks at the possible land uses (to see if the lot use can be changed), the amenities, the general rental of the area, the possible tenant mix and so on.
The business buyer looks at the accounts to check cashflow situations. He wants to see if there are inefficiencies that he can work on to increase the value of th
Dear Friend,People are always asking, “How can you help to increase my internet sales?” And all too often, when I ask them to tell me about their business models I discover they’re selling only one product. So I ask them, “Have you ever considered selling backend products to your customers?”Backend products are simply other products you can offer to your existing customers after they’ve made their initial purchase.In fact, by adding just one more product to your site, you can increase the lifetime value of your cust
The thought never occurred to me that one can buy a business, instead of starting from the ground up. But coming to think of it, even if the thought did occur to me, my pride (and cash position?) would not allow me to do so. I want something to call my own!
And that is precisely why many of us will never consider buying a business. A matter of pride. Of course, there are other reasons.
- Staff Problems: We are inheriting staff that has never worked with us, that has been answering to someone else. Of course, those of us who are newly employed by a company or are posted to a new division also have the same problems. And how do we know we won’t get the same problem with staff we newly recruited?
- Hidden creditors and debts: This one is a potential trap to watch out for. Experienced business buyers know how to get over this one, like getting the seller to make a Statutory Declaration (which means you can be punished by law for declaring falsely), or co-signing or any number of tricks that a good business broker should be able to help you with.
- Business Ill-will: Again, another problem. What if many suppliers refuse to work with the company, or many customers would never want to even hear of the name of the company again? Or some influential “terrorist” has been starting a hate campaign because of a faux pas in customer service by a staff in the past? But there again, a good business broker should be able to help you with that, to make sure you don’t walk blindly into a deal!
Look at the real estate investor. When he buys a house for investment purposes, he looks at the possible land uses (to see if the lot use can be changed), the amenities, the general rental of the area, the possible tenant mix and so on.
The business buyer looks at the accounts to check cashflow situations. He wants to see if there are inefficiencies that he can work on to increase the value of t
How is branding different than marketing?Branding is not so much different from marketing as it is an element of marketing. We think of marketing as a tree; the brand is the roots, holding the tree in place and providing constant energy. The leaves are the tactics, reaching in various directions and changing with the seasons, the trunk is the marketing strategy, connecting the brand and the tactics. In this way, brand is positioned as the basis for any marketing initiative.Building a BrandCreating a brand invol
Look at the real estate investor. When he buys a house for investment purposes, he looks at the possible land uses (to see if the lot use can be changed), the amenities, the general rental of the area, the possible tenant mix and so on.
The business buyer looks at the accounts to check cashflow situations. He wants to see if there are inefficiencies that he can work on to increase the value of t
It is the nightmare scenario for every business owner. A letter from the IRS arrives demanding payment for unpaid payroll taxes. The statement list the amount owed along in addition to penalties and interest. Thousands of businesses are faced with this situation every day. Even worse, many of these companies are forced into bankruptcy every year when they are unable to make the payment demanded.The IRS also considers the problem of unpaid payroll taxes significant. "Payroll taxes represent a significant portion of the IRS's
Look at the real estate investor. When he buys a house for investment purposes, he looks at the possible land uses (to see if the lot use can be changed), the amenities, the general rental of the area, the possible tenant mix and so on.
The business buyer looks at the accounts to check cashflow situations. He wants to see if there are inefficiencies that he can work on to increase the value of t
Currently in United States of America we are worried about high oil prices, Middle Eastern politics, our national debt and illegal immigration; so what else is new? You know I always find interesting is that the United States of America's government keeps doing the same things and keeps getting the same results.Each time the FED, the United States Congress or even the president of the United States changes one or more lever in an attempt to change a situation in the economy; what happens?The same thing that has alway
Look at the real estate investor. When he buys a house for investment purposes, he looks at the possible land uses (to see if the lot use can be changed), the amenities, the general rental of the area, the possible tenant mix and so on.
The business buyer looks at the accounts to check cashflow situations. He wants to see if there are inefficiencies that he can work on to increase the value of the business. He looks at the possible staff interactions to see if he can work on this and increase the value of the business. He examines the goodwill and opportunities to see if it’s possible to do IPO or takeovers/mergers in the future.
In other words, the person who buys businesses tends to be a person who looks for good deals. They are not interested in starting a business to “be a boss”. They can be considered a true professional business investor. They may in fact buy a business which has the same 3 problems mentioned above. Only that they have their ways of overcoming these problems. Their highlighting of the problems to the sellers only makes it easy for them to buy the business at bargain prices.
The reason for this article, of course, is not to influence a person to buy a business. I don’t have the expertise and experience to do that. If you are interested to find out more (and you happen to be in Singapore or Malaysia) you might want to contact Freddy Ngiam. He’s a professional - not only in buying businesses for his own “consumption” but in broking for those interested in buying and selling businesses.
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