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    ISO9000 & Beyond
    To be successful, organisations must prove themselves to be indispensable to their customers, be attuned to their employees' needs, be willing to partner with their suppliers, and be considerate of the social, environmental, and safety outcomes of their performance. These rather new and expanded objectives of business operations, are the main pillars of business excellence.Samson and Challis (2002) studied leading international organisations in an effort to determine why some were more successful than others in their pursuit of excellence. They identified a total of 14 principles that served as catalysts for business excellence. The extent to which each organisation embodied these principles appeared to be directly related to the speed of its journey towards excellence.Furthermore, the EFQM Excellence Model, which is used to adjudicate the European Quality Award, and the most frequently discussed model in quality literature (van der Wiele et aI., 1995, 2001), uses self-assessment as a tool to identify organisational strengths, as well as areas in which there exists room for improvement. Its outcome is a structured plan for amelioration, which is subsequently monitored for progress. In addition to this self-assessment component, the EFQM assists organisations with their continuous improvement initiatives by facilitating gauging of progress against measures of total quality management, identification of improvement opportunities benchmarking and organisational learning (McAdam and Kelly, 2002).Truly effective use of the excellence models for continuous improvement requires the input of management and employees. For maximum benefit, it must be effectively marketed by top management and internalised by the staff of the organisation (van der Wiele et aI., 2000). Also, to be optimally effective, quality improvements should be prioritised and should focus on the results category of a business excellence model such as the EFQM Excellence Model (EFQM, 1999; Seghezzi, 2001), the Malcolm Baldrige National Quality Award (MBNQA, 2002), or the Canadian Framework for Business Excellence (CFBE, 2002).Quality management The family of ISO 9000 standards can be regarded as the foundation on which organisations can build their excellence programs. The success of a quality management program that builds upon the foundation of the ISO 9000 system has been said to relate to the original motivation for registration (van der Wiele et aI., 2001). The
    the business?
    • What is the annual increase in sales?
    • How much is the inventory?
    • What is the debt?
    • Will the seller train and stay on for awhile?
    • What makes the business different/special/unique?
    • What further defines the product or service? Bid work? Repeat business?
    • What can be done to grow the business?
    • What can the buyer do to add value?
    • What is the profit picture in bad times as well as good?

    A FEW THINGS TO CONSIDER

    Buyers Want Cash Flow
    The first thing to keep in mind is that the vast majority of buyers want to buy cash flow. Sit down with your accountant or bookkeeper and begin to get your financial statements in order, with cash flow the order of business. Cash flow is not the same thing as profit. Most buyers look at the profit and loss statement or tax return, as well as owner or family compensation. They will consider any excess compensation to employees and family. Buyers will also look at large, one-time expenses such as a new computer system or remodeling. They will consider non-cash items like depreciation and amortization. Interest expenses will be reviewed, as will owner prerequisites. These are items that a professional business broker considers when advising a selling client on a selling price.
    *Insider Tip
    What about the Internet? The Internet is a real "buzz" word - and if its use is appropriate for your business, then developing a web site is important not only to your on-going business, but also to a buyer. Many buyers are conscious of what the Internet is doing for many businesses. If you have a web site for your business, it could be a big plus.

    Appearances Do Count
    The time to replace that old worn-out piece of equipment is before you decide to sell. Don't assume that a new owner will want to do it or that the price will be slightly lower because you haven't replaced it. The time to "spiff up" the business is now, even if you aren't selling. Fix the sign, replace the carpet, paint the place - make it look good. Even if you're not selling, it's just plain good for business, and you ne

    High Transaction Value: The Cost of Time and Effort
    This is a really great time to take charge and start building your own business. Franchise opportunities are giving everyone a chance to be an entrepreneur and own their own piece of the pie. First, consider your strengths and your interests. Then, find the business that fits what you want out of life. But, make sure that the business you choose allows you to maximize your income potential through your time and effort.The equation is easy. First, consider minimum wage and then think of all the job opportunities that work a person very hard for just that. A laborer on a construction site might make a little more than minimum wage on his way up to becoming a foreman. He’ll break his back at least twice a day and run his knees into the ground before he reaches middle age. But until he gains greater skills and becomes more of an asset to his company, he’ll still be literally killing himself for such a small wage.Compare that to the person who can virtually put a company on autopilot and then walk away from it for hours at a time while still getting paid. That’s called maximizing your income potential through very little time or effort. Most people find such opportunities on the internet. When you plug yourself into the right system, it is possible to make money while you sleep like most internet business ideas promise.But when I think of time and effort, I think of a business that I can not only enjoy having, but be proud of running. That’s why I absolutely love my art workshop. My art workshops allow me to teach art to others. The workshops are enjoyable. My clients are practically my friends and they bring in new clients with them all the time because of the relationship we have created. I am maximizing my time and effort and enjoying what I am doing in the process.One class of mine can last anywhere from 45 minutes to an hour and a half. Placing several students in my class maximizes my income potential for that period of time. Having several classes a week multiplies that income potential exponentially. Training some of my students to run workshops of their own and I’m pretty much putting my business opportunity on autopilot while maintaining my income potential. Now, I can pick and choose the workshops I want to run while allowing others to run workshops of their own. It fits the high transaction value model, plus it gets me off of the internet and back into life where the real things happen.Art ha
    INTRODUCTION

    Is it time to sell? Selling your business is a major decision! You have devoted your time, money, and energy to building, running, and operating your business. It may well represent your life's work. You may have already decided that now is the right time to sell, and you want the very best professional guidance you can get. This is when working in tandem with a professional business broker can make the difference between just getting rid of the business and selling it for the very best price and terms!

    ARE YOU READY TO EXIT?

    If you've gone this far, then selling your business has aroused enough curiosity that you are taking the first step. You don't have to make a commitment at this point; you are just getting informed about what is necessary to successfully sell your business. This section should answer a lot of your questions and help you through the maze of the process itself.

    Question 1

    The first question almost every seller asks is: "What is my business worth?" Quite frankly, if we were selling our business, that is the first thing we would want to know. However, we're going to put this very important issue off for a bit and cover some of the things you need to know before you get to that point. Before you ask that question, you have to be ready to sell for what the market is willing to pay. If money is the only reason you want to sell, then you're not really ready to sell.

    *Insider Tip:

    It doesn't make any difference what you think your business is worth, or what you want for it. It also doesn't make any difference what your accountant, banker, attorney, or best friend thinks your business is worth. Only the marketplace can decide what its value is.

    Question 2

    The second question you have to consider is: Do you really want to sell this business? If you're really serious and have a solid reason(s) why you want to sell, it will most likely happen. You can increase your chances of selling if you can answer yes to the second question: Do you have reasonable expectations? The yes answer to these two questions means you are serious about selling.

    The First Steps

    Okay, let's assume that you have decided to at least take the first few steps to actually selling your business. Before you even think about placing your business for sale there are some things you should do first. The first thing you have to do is to gather information about the business. Here's a checklist of the items you should get together:

    • Three years' profit and loss statements
    • Federal Income Tax returns for the business
    • List of fixtures and equipment
    • The lease and lease-related documents
    • A list of the loans against the business (amounts and payment schedule)
    • Copies of any equipment leases
    • A copy of the franchise agreement, if applicable
    • An approximate amount of the inventory on hand, if applicable
    • The names of any outside advisors

    Notes: If you're like many small business owners, you'll have to search for some of these items. After you gather all of the above items, you should spend some time updating the information and filling in the blanks. You most likely have forgotten much of this information, so it's a good idea to really take a hard look at all of this. Have all of the above put in a neat, orderly format as if you were going to present it to a prospective purchaser. Everything starts with this information.

    Make sure the financial statements of the business are current and as accurate as you can get them. If you're half way through the current year, make sure you have last year's figures and tax returns, and also year-to-date figures. Make all of your financial statements presentable. It will pay in the long run to get outside professional help, if necessary, to put the statements in order. You want to present the business well "on paper." As you will see later, pricing a small business usually is based on cash flow. This includes the profit of the business, as well as the owner's salary and benefits, the depreciation, and other non-cash items. So don't panic because the bottom line isn't what you think it should be. By the time all of the appropriate figures are added to the bottom line, the cash flow may look pretty good. Prospective buyers eventually want to review your financial figures. A Balance Sheet is not normally necessary unless the sale price of your business would be well over the $1 million figure. Buyers want to see income and expenses. They want to know if they can make the payments on the business (more on this later) and still make a living. Let's face it, if your business is not making a living wage for someone, it probably can't be sold. You may be able to find a buyer who is willing to take the risk, or an experienced industry professional who only looks for location, etc. and feels that he or she can increase business. *Insider Tip: The big question is not really how much your business will sell for, but how much of it can you keep?. The Federal Tax Laws do determine how much money you will actually be able to put in the bank. How your business is legally formed can be important in determining your tax status when selling your business. For example: Is your business a corporation, partnership or proprietorship? If you are incorporated, is the business a C corporation or a sub-chapter S corporation? There are some new tax rules, effective January 1, 2000, that impact certain businesses on seller financing. The point of all of this is that before you consider price or even selling your business, it is important that you discuss the tax implications of a sale of your business with a tax advisor. You don't want to be in the middle of a transaction with a solid buyer and discover that the tax implications of the sale are going to net you much less than you had figured.

    WHO IS THE BUYER?

    Buyers buy businesses for many of the same reasons that sellers sell businesses. It is important that the buyer is as serious as the seller when it comes time to purchase a business. If the buyer is not serious, the sale will never close. Here are just a few of the reasons that buyers buy businesses:
    • Laid-off, fired, being transferred (or about to be any of these)
    • Early retirement (forced or not)
    • Job dissatisfaction
    • Desire for more control over their lives
    • Desire to do his or her own thing

    A Buyer Profile

    Here is a look at the make-up of the average individual buyer looking to replace a lost job or wanting to get out of an uncomfortable job situation. The chances are he is a male (however, more and more women are going into business for themselves, so this is rapidly changing). Almost 50 percent will have less than $100,000 in which to invest in the purchase of a business. In many cases the funds, or part of them, will come from personal savings followed by financial assistance from family members. The buyer will never have owned a business before, and most likely will buy a business he or she had never considered until being introduced to it.

    Their primary reason for going into business is to get out of their present situation, be it unemployment or job disagreement (or discouragement). The prospective buyer wants to do their own thing, be in charge of their own destiny, and they don't want to work for anyone. Money is important, but it's not at the top of the list; in fact, it probably is in fourth or fifth place in the overall list. In order to pursue the dream of owning one's own business, the buyer must be able to make that "leap of faith" necessary to take the risk of purchasing and operating their own business. Buyers who want to go into business strictly for the money usually are not realistic buyers for small businesses. Keep in mind the following traits of a willing buyer:

    • The desire to buy a business
    • The need and urgency to buy a business
    • The financial resources
    • The ability to make his or her own decisions
    • Reasonable expectations of what business ownership can do for him or her

    What Do Buyers Want to Know?

    This may be a bit premature since you may not have decided to sell, but it may help in your decision making process to understand not only who the buyer is, but also what he or she will want to know in order to buy your business. Here are some questions that you might be asked - and, should be prepared to answer:
    • How much money is required to buy the business?
    • What is the annual increase in sales?
    • How much is the inventory?
    • What is the debt?
    • Will the seller train and stay on for awhile?
    • What makes the business different/special/unique?
    • What further defines the product or service? Bid work? Repeat business?
    • What can be done to grow the business?
    • What can the buyer do to add value?
    • What is the profit picture in bad times as well as good?

    A FEW THINGS TO CONSIDER

    Buyers Want Cash Flow
    The first thing to keep in mind is that the vast majority of buyers want to buy cash flow. Sit down with your accountant or bookkeeper and begin to get your financial statements in order, with cash flow the order of business. Cash flow is not the same thing as profit. Most buyers look at the profit and loss statement or tax return, as well as owner or family compensation. They will consider any excess compensation to employees and family. Buyers will also look at large, one-time expenses such as a new computer system or remodeling. They will consider non-cash items like depreciation and amortization. Interest expenses will be reviewed, as will owner prerequisites. These are items that a professional business broker considers when advising a selling client on a selling price.
    *Insider Tip
    What about the Internet? The Internet is a real "buzz" word - and if its use is appropriate for your business, then developing a web site is important not only to your on-going business, but also to a buyer. Many buyers are conscious of what the Internet is doing for many businesses. If you have a web site for your business, it could be a big plus.

    Appearances Do Count
    The time to replace that old worn-out piece of equipment is before you decide to sell. Don't assume that a new owner will want to do it or that the price will be slightly lower because you haven't replaced it. The time to "spiff up" the business is now, even if you aren't selling. Fix the sign, replace the carpet, paint the place - make it look good. Even if you're not selling, it's just plain good for business, and you nev

    Network Marketing – Why is it the Number 1 School for Self-Development?
    Network marketing is often described as the ultimate “people’s” business. The very term “network” immediately makes us think of a company of people working together, linked by powerful connections.If you are involved in network marketing (also known as Multi-level marketing or MLM) you are in business FOR yourself. But your company assures you that you are not BY yourself. Your organization is not employing you. You are not accountable to a boss. You don’t have to start or finish work at set hours. You don’t have a quota. Your success or failure is dependent on what YOU do. But your company is committed to helping you succeed.In a network marketing business you are responsible for recruiting customers and prospects to buy the product. You may also be responsible for recruiting others to work in your organization in the same way that someone recruited you. The people you recruit become part of your down-line and your success depends, in part, on their success. This means that just as others are helping you grow your business, you now want to help others in the same way.A lot of people do grow rich in network marketing. But for many people in this field, there is much more to it than financial success. They find that here, they can learn lessons about life that they would not have learned anywhere else.Network marketing is a people-to-people business. An ordinary entrepreneur or businessperson is solely concerned with himself or herself and how he or she can succeed. Entrepreneurs boast about being “self-made”.A network marketer cannot be “self-made”. Those who are in this business testify that they are never really alone. More than in any other business, they depend on working together and being a team.Why is this? It has been said that the three steps to success are Being, Doing and Having, in that order. Until you ARE, you cannot DO. What you are must grow and develop until you reach the point at which you can do. You can only discover why this development is needed is by failing.In marketing, you fail all the time. In ordinary marketing, you either give up or you pick yourself up. In network marketing there is someone there to show you where you went wrong and how you can get over this to succeed next time.So you need to learn how to deal with rejection. How to come back from a run of poor results. How to believe in yourself. How to communicate effectively. How to relat
    /p>

    The First Steps

    Okay, let's assume that you have decided to at least take the first few steps to actually selling your business. Before you even think about placing your business for sale there are some things you should do first. The first thing you have to do is to gather information about the business. Here's a checklist of the items you should get together:

    • Three years' profit and loss statements
    • Federal Income Tax returns for the business
    • List of fixtures and equipment
    • The lease and lease-related documents
    • A list of the loans against the business (amounts and payment schedule)
    • Copies of any equipment leases
    • A copy of the franchise agreement, if applicable
    • An approximate amount of the inventory on hand, if applicable
    • The names of any outside advisors

    Notes: If you're like many small business owners, you'll have to search for some of these items. After you gather all of the above items, you should spend some time updating the information and filling in the blanks. You most likely have forgotten much of this information, so it's a good idea to really take a hard look at all of this. Have all of the above put in a neat, orderly format as if you were going to present it to a prospective purchaser. Everything starts with this information.

    Make sure the financial statements of the business are current and as accurate as you can get them. If you're half way through the current year, make sure you have last year's figures and tax returns, and also year-to-date figures. Make all of your financial statements presentable. It will pay in the long run to get outside professional help, if necessary, to put the statements in order. You want to present the business well "on paper." As you will see later, pricing a small business usually is based on cash flow. This includes the profit of the business, as well as the owner's salary and benefits, the depreciation, and other non-cash items. So don't panic because the bottom line isn't what you think it should be. By the time all of the appropriate figures are added to the bottom line, the cash flow may look pretty good. Prospective buyers eventually want to review your financial figures. A Balance Sheet is not normally necessary unless the sale price of your business would be well over the $1 million figure. Buyers want to see income and expenses. They want to know if they can make the payments on the business (more on this later) and still make a living. Let's face it, if your business is not making a living wage for someone, it probably can't be sold. You may be able to find a buyer who is willing to take the risk, or an experienced industry professional who only looks for location, etc. and feels that he or she can increase business. *Insider Tip: The big question is not really how much your business will sell for, but how much of it can you keep?. The Federal Tax Laws do determine how much money you will actually be able to put in the bank. How your business is legally formed can be important in determining your tax status when selling your business. For example: Is your business a corporation, partnership or proprietorship? If you are incorporated, is the business a C corporation or a sub-chapter S corporation? There are some new tax rules, effective January 1, 2000, that impact certain businesses on seller financing. The point of all of this is that before you consider price or even selling your business, it is important that you discuss the tax implications of a sale of your business with a tax advisor. You don't want to be in the middle of a transaction with a solid buyer and discover that the tax implications of the sale are going to net you much less than you had figured.

    WHO IS THE BUYER?

    Buyers buy businesses for many of the same reasons that sellers sell businesses. It is important that the buyer is as serious as the seller when it comes time to purchase a business. If the buyer is not serious, the sale will never close. Here are just a few of the reasons that buyers buy businesses:
    • Laid-off, fired, being transferred (or about to be any of these)
    • Early retirement (forced or not)
    • Job dissatisfaction
    • Desire for more control over their lives
    • Desire to do his or her own thing

    A Buyer Profile

    Here is a look at the make-up of the average individual buyer looking to replace a lost job or wanting to get out of an uncomfortable job situation. The chances are he is a male (however, more and more women are going into business for themselves, so this is rapidly changing). Almost 50 percent will have less than $100,000 in which to invest in the purchase of a business. In many cases the funds, or part of them, will come from personal savings followed by financial assistance from family members. The buyer will never have owned a business before, and most likely will buy a business he or she had never considered until being introduced to it.

    Their primary reason for going into business is to get out of their present situation, be it unemployment or job disagreement (or discouragement). The prospective buyer wants to do their own thing, be in charge of their own destiny, and they don't want to work for anyone. Money is important, but it's not at the top of the list; in fact, it probably is in fourth or fifth place in the overall list. In order to pursue the dream of owning one's own business, the buyer must be able to make that "leap of faith" necessary to take the risk of purchasing and operating their own business. Buyers who want to go into business strictly for the money usually are not realistic buyers for small businesses. Keep in mind the following traits of a willing buyer:

    • The desire to buy a business
    • The need and urgency to buy a business
    • The financial resources
    • The ability to make his or her own decisions
    • Reasonable expectations of what business ownership can do for him or her

    What Do Buyers Want to Know?

    This may be a bit premature since you may not have decided to sell, but it may help in your decision making process to understand not only who the buyer is, but also what he or she will want to know in order to buy your business. Here are some questions that you might be asked - and, should be prepared to answer:
    • How much money is required to buy the business?
    • What is the annual increase in sales?
    • How much is the inventory?
    • What is the debt?
    • Will the seller train and stay on for awhile?
    • What makes the business different/special/unique?
    • What further defines the product or service? Bid work? Repeat business?
    • What can be done to grow the business?
    • What can the buyer do to add value?
    • What is the profit picture in bad times as well as good?

    A FEW THINGS TO CONSIDER

    Buyers Want Cash Flow
    The first thing to keep in mind is that the vast majority of buyers want to buy cash flow. Sit down with your accountant or bookkeeper and begin to get your financial statements in order, with cash flow the order of business. Cash flow is not the same thing as profit. Most buyers look at the profit and loss statement or tax return, as well as owner or family compensation. They will consider any excess compensation to employees and family. Buyers will also look at large, one-time expenses such as a new computer system or remodeling. They will consider non-cash items like depreciation and amortization. Interest expenses will be reviewed, as will owner prerequisites. These are items that a professional business broker considers when advising a selling client on a selling price.
    *Insider Tip
    What about the Internet? The Internet is a real "buzz" word - and if its use is appropriate for your business, then developing a web site is important not only to your on-going business, but also to a buyer. Many buyers are conscious of what the Internet is doing for many businesses. If you have a web site for your business, it could be a big plus.

    Appearances Do Count
    The time to replace that old worn-out piece of equipment is before you decide to sell. Don't assume that a new owner will want to do it or that the price will be slightly lower because you haven't replaced it. The time to "spiff up" the business is now, even if you aren't selling. Fix the sign, replace the carpet, paint the place - make it look good. Even if you're not selling, it's just plain good for business, and you ne

    So You've Done the Hard Work and Got Your Sales Leads - Why Does it All Go Wrong From Here?
    Managing sales leads to deliver resultsSo you've done the hard work and got a stream of qualified sales leads – why does it all go wrong from here?After much gnashing of teeth and hours spent justifying the investment and calculating your required return on investment, you have spent your hard-earned marketing money to generate a stream of sales leads – whether telemarketing, exhibitions, seminars, online or offline advertising, direct response advertising or directory listings they all have one thing in common, they are expensive and the investment has to be justified.Now you have your leadsWhatever the source, you are now the proud owner of a stream of (hopefully) qualified sales leads, unfortunately our experience is that this is just the beginning and on its own it does not mean that this will automatically translate into sales.A CRM system is key building blockPerhaps the most critical task you can do once you have got the leads is to make sure that you capture all the information about these leads onto a database in a way that is going to allow your sales team to easily access and update this information and in a way that is going to allow you to track and monitor the progress of these leads as they are developed. This can be done using any one of the many sophisticated CRM systems that are available or by developing your own database. Now is not the place to evaluate the various CRM systems that are available or to assess the relative merits of using an off-the-shelf package vs. the DIY approach, suffice to say that either way it must happen!Many companies fall down on this – wasting time and money!Unfortunately many companies appear to skip this key building block in their sales management process and as a result they are inefficient in following up leads and they lose visibility of progress causing many expensive and hard won leads that could have converted into business to be lost. This is nothing short of a criminal waste of precious marketing resources but our experience is that it happens all too often in organisations of all shapes and sizes.Not all leads are created equalYou must classify your leads depending upon their potential worth to the business and your probability of winning the business. If you do this you can allocate your resources and prioritise accordingly. There is little point having your expensive field sales people chas
    , the cash flow may look pretty good. Prospective buyers eventually want to review your financial figures. A Balance Sheet is not normally necessary unless the sale price of your business would be well over the $1 million figure. Buyers want to see income and expenses. They want to know if they can make the payments on the business (more on this later) and still make a living. Let's face it, if your business is not making a living wage for someone, it probably can't be sold. You may be able to find a buyer who is willing to take the risk, or an experienced industry professional who only looks for location, etc. and feels that he or she can increase business. *Insider Tip: The big question is not really how much your business will sell for, but how much of it can you keep?. The Federal Tax Laws do determine how much money you will actually be able to put in the bank. How your business is legally formed can be important in determining your tax status when selling your business. For example: Is your business a corporation, partnership or proprietorship? If you are incorporated, is the business a C corporation or a sub-chapter S corporation? There are some new tax rules, effective January 1, 2000, that impact certain businesses on seller financing. The point of all of this is that before you consider price or even selling your business, it is important that you discuss the tax implications of a sale of your business with a tax advisor. You don't want to be in the middle of a transaction with a solid buyer and discover that the tax implications of the sale are going to net you much less than you had figured.

    WHO IS THE BUYER?

    Buyers buy businesses for many of the same reasons that sellers sell businesses. It is important that the buyer is as serious as the seller when it comes time to purchase a business. If the buyer is not serious, the sale will never close. Here are just a few of the reasons that buyers buy businesses:
    • Laid-off, fired, being transferred (or about to be any of these)
    • Early retirement (forced or not)
    • Job dissatisfaction
    • Desire for more control over their lives
    • Desire to do his or her own thing

    A Buyer Profile

    Here is a look at the make-up of the average individual buyer looking to replace a lost job or wanting to get out of an uncomfortable job situation. The chances are he is a male (however, more and more women are going into business for themselves, so this is rapidly changing). Almost 50 percent will have less than $100,000 in which to invest in the purchase of a business. In many cases the funds, or part of them, will come from personal savings followed by financial assistance from family members. The buyer will never have owned a business before, and most likely will buy a business he or she had never considered until being introduced to it.

    Their primary reason for going into business is to get out of their present situation, be it unemployment or job disagreement (or discouragement). The prospective buyer wants to do their own thing, be in charge of their own destiny, and they don't want to work for anyone. Money is important, but it's not at the top of the list; in fact, it probably is in fourth or fifth place in the overall list. In order to pursue the dream of owning one's own business, the buyer must be able to make that "leap of faith" necessary to take the risk of purchasing and operating their own business. Buyers who want to go into business strictly for the money usually are not realistic buyers for small businesses. Keep in mind the following traits of a willing buyer:

    • The desire to buy a business
    • The need and urgency to buy a business
    • The financial resources
    • The ability to make his or her own decisions
    • Reasonable expectations of what business ownership can do for him or her

    What Do Buyers Want to Know?

    This may be a bit premature since you may not have decided to sell, but it may help in your decision making process to understand not only who the buyer is, but also what he or she will want to know in order to buy your business. Here are some questions that you might be asked - and, should be prepared to answer:
    • How much money is required to buy the business?
    • What is the annual increase in sales?
    • How much is the inventory?
    • What is the debt?
    • Will the seller train and stay on for awhile?
    • What makes the business different/special/unique?
    • What further defines the product or service? Bid work? Repeat business?
    • What can be done to grow the business?
    • What can the buyer do to add value?
    • What is the profit picture in bad times as well as good?

    A FEW THINGS TO CONSIDER

    Buyers Want Cash Flow
    The first thing to keep in mind is that the vast majority of buyers want to buy cash flow. Sit down with your accountant or bookkeeper and begin to get your financial statements in order, with cash flow the order of business. Cash flow is not the same thing as profit. Most buyers look at the profit and loss statement or tax return, as well as owner or family compensation. They will consider any excess compensation to employees and family. Buyers will also look at large, one-time expenses such as a new computer system or remodeling. They will consider non-cash items like depreciation and amortization. Interest expenses will be reviewed, as will owner prerequisites. These are items that a professional business broker considers when advising a selling client on a selling price.
    *Insider Tip
    What about the Internet? The Internet is a real "buzz" word - and if its use is appropriate for your business, then developing a web site is important not only to your on-going business, but also to a buyer. Many buyers are conscious of what the Internet is doing for many businesses. If you have a web site for your business, it could be a big plus.

    Appearances Do Count
    The time to replace that old worn-out piece of equipment is before you decide to sell. Don't assume that a new owner will want to do it or that the price will be slightly lower because you haven't replaced it. The time to "spiff up" the business is now, even if you aren't selling. Fix the sign, replace the carpet, paint the place - make it look good. Even if you're not selling, it's just plain good for business, and you ne

    Mattress Warehouses
    Warehouses are business buildings that are used to store goods and materials. Many manufacturers, traders, importers, customs, exporters, and wholesalers use warehouses to store their items. Warehouses are generally plain large buildings, which are located in the industrial parts of the towns and have loading docks for loading and unloading vehicles. Sometimes loading is done directly from airports, railways, or the seaports. These warehouses generally use cranes and forklifts, which are based on the standardization of the ISO.Mattresses are products or a piece of bedding, which is used while sleeping. They are made from many materials like foam, natural and synthetic fibers, and spring. Mattresses are difficult to maintain, especially if they consist of different delicate materials such as latex foam and viscoelastic foam. Mattresses, which are made in bulk, are generally stored in warehouses. There are special warehouses built particularly for the storage of mattresses, of all possible sizes and types. Mattress warehouses are located in areas that facilitate easy distribution so that their transportation is possible without damage. It also has special shelves built to keep the mattresses secure. When warehouses receive mattresses, they take responsibility for storing, packing, shipping, and distributing them.Warehouse employees are given responsibility of transferring the goods from the place of manufacture to the place of distribution. Nevertheless, other fully automated mattress warehouses require much less workforce. Several trucks are engaged to drive to the loading port, and load the mattresses directly in the truck. Warehouses that are situated next to airports, railway stations, docks, and ports cut down on the transportation costs and time that would otherwise prove to be very expensive.Warehouses are ideal for those who have virtual stores, or depend on e-commerce as many people order mattresses online and direct them to be sent to the warehouses for storage and delivery. These orders are packed, processed, and then shipped to the place of distribution. The customers buy mattresses in bulk quantity as they are often sold at a discounted rate.
    their lives
    • Desire to do his or her own thing

    A Buyer Profile

    Here is a look at the make-up of the average individual buyer looking to replace a lost job or wanting to get out of an uncomfortable job situation. The chances are he is a male (however, more and more women are going into business for themselves, so this is rapidly changing). Almost 50 percent will have less than $100,000 in which to invest in the purchase of a business. In many cases the funds, or part of them, will come from personal savings followed by financial assistance from family members. The buyer will never have owned a business before, and most likely will buy a business he or she had never considered until being introduced to it.

    Their primary reason for going into business is to get out of their present situation, be it unemployment or job disagreement (or discouragement). The prospective buyer wants to do their own thing, be in charge of their own destiny, and they don't want to work for anyone. Money is important, but it's not at the top of the list; in fact, it probably is in fourth or fifth place in the overall list. In order to pursue the dream of owning one's own business, the buyer must be able to make that "leap of faith" necessary to take the risk of purchasing and operating their own business. Buyers who want to go into business strictly for the money usually are not realistic buyers for small businesses. Keep in mind the following traits of a willing buyer:

    • The desire to buy a business
    • The need and urgency to buy a business
    • The financial resources
    • The ability to make his or her own decisions
    • Reasonable expectations of what business ownership can do for him or her

    What Do Buyers Want to Know?

    This may be a bit premature since you may not have decided to sell, but it may help in your decision making process to understand not only who the buyer is, but also what he or she will want to know in order to buy your business. Here are some questions that you might be asked - and, should be prepared to answer:
    • How much money is required to buy the business?
    • What is the annual increase in sales?
    • How much is the inventory?
    • What is the debt?
    • Will the seller train and stay on for awhile?
    • What makes the business different/special/unique?
    • What further defines the product or service? Bid work? Repeat business?
    • What can be done to grow the business?
    • What can the buyer do to add value?
    • What is the profit picture in bad times as well as good?

    A FEW THINGS TO CONSIDER

    Buyers Want Cash Flow
    The first thing to keep in mind is that the vast majority of buyers want to buy cash flow. Sit down with your accountant or bookkeeper and begin to get your financial statements in order, with cash flow the order of business. Cash flow is not the same thing as profit. Most buyers look at the profit and loss statement or tax return, as well as owner or family compensation. They will consider any excess compensation to employees and family. Buyers will also look at large, one-time expenses such as a new computer system or remodeling. They will consider non-cash items like depreciation and amortization. Interest expenses will be reviewed, as will owner prerequisites. These are items that a professional business broker considers when advising a selling client on a selling price.
    *Insider Tip
    What about the Internet? The Internet is a real "buzz" word - and if its use is appropriate for your business, then developing a web site is important not only to your on-going business, but also to a buyer. Many buyers are conscious of what the Internet is doing for many businesses. If you have a web site for your business, it could be a big plus.

    Appearances Do Count
    The time to replace that old worn-out piece of equipment is before you decide to sell. Don't assume that a new owner will want to do it or that the price will be slightly lower because you haven't replaced it. The time to "spiff up" the business is now, even if you aren't selling. Fix the sign, replace the carpet, paint the place - make it look good. Even if you're not selling, it's just plain good for business, and you ne

    Building Business With Free Online Classified Ads
    One time sellers and long term sellers can cash in on the advantages of free online classifieds. Despite the service is given to you free of cost, free online classifieds ad websites offer great service in helping you sell your products.Free online classifieds websites generally are of two kinds – some have an option for upgrading your free classified ad to a paid one and for others it is completely free. Completely free online classifieds ads websites find revenue by attracting advertisers who like to include text links or banners pointing to their websites.Either way, one can get online classifieds ad placing for free. Good free classifieds ads websites have some moderation to filter the ads that appear in the website. This is to avoid such items like illegal to trade items from showing up in the classifieds ads listings.The completely free for all, no moderation websites offer little value to either visitors or advertisers as the whole site will be spawned with thousands of advertisements that have no real value to the visitors.Businesses looking to build their business with online free classified ads should take necessary care to avoid such websites that are open for all and no moderation. The only thing will be lose of time.Online classifieds ads free websites that offer to place free classified ads should have human filtering system. Sites that don't maintain its integrity this way will not easily be recognized as good websites, even though they offer the service free of cost.Online classifieds ads websites that allow you to place classifieds ads do collect your email address and use the email address to sell you products, software and other schemes for advertising your products.This is actually a downside of free classifieds ads websites. They first attract you with a genuine offer by giving you an option to post your classified ads for free. Then they will also send you emails, telling you about further great opportunities to post your ad for a fee.Many people who actually use free classifieds ads websites signup for a new @yahoo.com or @gmail.com account for the sole purpose of managing free classifieds ads accounts.You can get maximum mileage out of your free online classifieds ads if you apply the basics of classifieds ads writing. Think what your prospective customers will be looking for while they read classifieds ads put by you. Draft your free classifieds ads in such a way to a
    the business?
    • What is the annual increase in sales?
    • How much is the inventory?
    • What is the debt?
    • Will the seller train and stay on for awhile?
    • What makes the business different/special/unique?
    • What further defines the product or service? Bid work? Repeat business?
    • What can be done to grow the business?
    • What can the buyer do to add value?
    • What is the profit picture in bad times as well as good?

    A FEW THINGS TO CONSIDER

    Buyers Want Cash Flow
    The first thing to keep in mind is that the vast majority of buyers want to buy cash flow. Sit down with your accountant or bookkeeper and begin to get your financial statements in order, with cash flow the order of business. Cash flow is not the same thing as profit. Most buyers look at the profit and loss statement or tax return, as well as owner or family compensation. They will consider any excess compensation to employees and family. Buyers will also look at large, one-time expenses such as a new computer system or remodeling. They will consider non-cash items like depreciation and amortization. Interest expenses will be reviewed, as will owner prerequisites. These are items that a professional business broker considers when advising a selling client on a selling price.
    *Insider Tip
    What about the Internet? The Internet is a real "buzz" word - and if its use is appropriate for your business, then developing a web site is important not only to your on-going business, but also to a buyer. Many buyers are conscious of what the Internet is doing for many businesses. If you have a web site for your business, it could be a big plus.

    Appearances Do Count
    The time to replace that old worn-out piece of equipment is before you decide to sell. Don't assume that a new owner will want to do it or that the price will be slightly lower because you haven't replaced it. The time to "spiff up" the business is now, even if you aren't selling. Fix the sign, replace the carpet, paint the place - make it look good. Even if you're not selling, it's just plain good for business, and you never know when the time to sell occurs. Keep-in-mind that anything that increases sales also increases profits and the all-important cash flow!

    Everything Has Value
    There are other things that add value to your business. Don't discount the value of customer lists, proprietary products and/or techniques, well-maintained equipment, secret recipes, customized software programs, or good employees. These are termed "off-balance sheet items," and although not used in most pricing models, they add to value. Look at your business very carefully so you don't overlook those items that make your business more attractive to the buyer.

    Eliminate the Surprises
    Long before you put your business on the market eliminate the surprises! Review every facet of the business and remedy any problems that could appear during the sale process. No one likes surprises - most of all potential buyers. Whether legal, accounting, environmental, or anything else - solve it now.
    *Insider Tip
    This may sound like something that should have been done when the business first started, so it may be "after-the-fact". You should create an operations manual. You may already have started one years ago, or simply, have thought of doing one. Now is the time. It may actually create added value to the business. Even if it doesn't, it will impress buyers that you have your business "act" together and should help you sell more quickly and effectively. Preparing a manual on how to operate your business can also be helpful even if you don't want to sell. It doesn't have to be elaborate, just cover the basics. A collection of ads that you have placed a catalog or sample of products, publications, or menus (if the business is food related) is also impressive. Include anything to do with the business that might be helpful for a new owner. However, don't include anything that is proprietary, such as customer lists, suppliers or secret recipes, etc.

    YOU CAN HELP
    We look forward to working with you in finding a suitable buyer for your business. You, as the seller, are an integral part of the total marketing program. We would like to offer a few friendly recommendations that will help in our marketing efforts. We have checked those items that we think will be especially applicable to your type of business.

    It might also be helpful if you took a good look at your business from the perspective of a buyer. Try to put yourself in the place of a prospective purchaser of the business. What would you do to make it more attractive or more saleable? Obviously, the financial records of your business are critical to the sale of your business, but how it looks is also important. First impressions really count! If a potential buyer doesn't like the appearance of your business, the rest of it may never get a chance. If you have any questions, please don't hesitate to call us. It's only by working together that we'll get the best results.

    You might want to check the following to see if any of them are applicable:
    • Keep normal operating hours. There may be a tendency to "let down" when you put your business up for sale. However, it's important that prospective buyers see your business at its best.
    • Repair signs, replace outside lights, etc. You don't want your business to look as if it has been neglected.
    • Maintain inventory at a constant level. If you let your inventory slide, your business will look neglected. If anything, increase it so your business will look busy.
    • Remove items that are not included in the sale and unnecessary items, especially if inoperative.
    • Repair non-operating equipment or remove it if you are not using it.
    • Tidy-up outside premises.
    • Spruce-up the inside of the business.

    COMMON SELLER QUESTIONS

    How long does it take to sell my business?
    It generally takes, on average, between five to eight months to sell most businesses. Keep in mind that an average is just that. Some businesses will take longer to sell, while others will sell in a shorter period of time. The sooner you have all the information needed to begin the marketing process, the shorter the time period should be. It is also important that the business be priced properly right from the start. Some sellers, operating under the premise that they can always come down in price, overprice their business. This theory often "backfires," because buyers often will refuse to look at an overpriced business. It has been shown that the amount of the down payment may be the key ingredient to a quick sale. The lower the down payment, generally 40 percent of the asking price or less, the shorter the time to a successful sale. A reasonable down payment also tells a potential buyer that the seller has confidence in the business's ability to make the payments.

    Why is seller financing so important to the sale of my business?
    Surveys have shown that a seller, who asks for all cash, receives on average only 70 percent of their asking price, while sellers who accept terms receive on average 86 percent of their asking price. That's a difference of 16 percent! In many cases, businesses that are listed for all cash just don't sell. With reasonable terms, however, the chances of selling increase dramatically and the time period from listing to sale greatly decreases. Most sellers are unaware of how much interest they can receive by financing the sale of their business. In some cases it can greatly increase the amount received. And, again, it tells the buyer that the seller has enough confidence that the business can, indeed, pay for itself.

    What happens when there is a buyer for my business?
    When a buyer is sufficiently interested in your business, he or she will, or should, submit an offer in writing. This offer or proposal may have one or more contingencies. Usually, they concern a detailed review of your financial records and may also include a review of your lease arrangements, franchise agreement (if there is one), or other pertinent details of the business. You may accept the terms of the offer or you may make a counter-proposal. You should understand, however, that if you do not accept the buyer's proposal, the buyer can withdraw it at any time.

    At first review, you may not be pleased with a particular offer; however, it is important to look at it carefully. It may be lacking in some areas, but it might also have some pluses to seriously consider. There is an old adage that says, "The first offer is generally the best one the seller will receive." This does not mean that you should accept the first, or any offer -- just that all offers should be looked at carefully.

    When you and the buyer are in agreement, both of you should work to satisfy and remove the contingencies in the offer. It is important that you cooperate fully in this process. You don't want the buyer to think that you are hiding anything. The buyer may, at this point, bring in outside advisors to help them review the information. When all the conditions have been met, final papers will be drawn and signed. Once the closing has been completed, money will be distributed and the new owner will take possession of the business.

    What can I do to help sell my business?
    A buyer will want up-to-date financial information. If you use accountants, you can work with them on making current information available. If you are using an attorney, make sure they are familiar with the business closing process and the laws of your particular state. You might also ask if their schedule will allow them to participate in the closing on very short notice. If you and the buyer want to close the sale quickly, usually within a few weeks, unless there is an alcohol or other license involved that might delay things, you don't want to wait until the attorney can make the time to prepare the documents or attend the closing. Time is of the essence in any business sale transaction. The failure to close on schedule permits the buyer to reconsider or make changes in the original proposal. What can business brokers do - and, what can't they do?

    Business brokers are the professionals who will facilitate the successful sale of your business. It is important that you understand just what a professional business broker can do -- as well as what they can't. They can help you decide how to price your business and how to structure the sale so it makes sense for everyone -- you and the buyer. They can find the right buyer for your business, work with you and th

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