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All About Business Brokers

Business Brokers are the professionals who aid in selling and buying of businesses. Main job of these brokers is to act like a buffer amid the buyer and seller. These brokers help individuals in search to buy existing business, to find the deal that fits the set parameters as such industry, size and location.

Business brokers are also known as trading transfer agents or intercessors. Few specialized business brokerage firms provide assistance to entrepreneurs, to set up or sell their commerce to other companies. These brokers evaluate the company, promote them for sale, and conduct the interviews and discussions. They negotiate with the potential buyers, smooth the process with diligence and assist the sale.

Some states issue license to business brokers, whereas some do not. If a broker works on hourly basis, then license is not required. Some states have made license mandatory, even if a broker merely gives an advice to its clients.

These brokers carry out transactions of clienteles that have lesser values. Huge Private Companies which are categorized in Middle Market, employ business brokerage firms. Middle market firms are those companies that are bigger than small enterprises.

Brokers charge specific fees for the service rendered. It is called as commissions. These commissions are given to the broker after the settlement of the transaction. The standard commission in many states is 10% – 12% of the settlement amount. These commissions are also negotiable and listed in the contract.

A business broker usually bears the advertisement expense, which is compensated later from the commission received. All the repayments received to the broker by the third party need to be disclosed to all other parties as well.

How to Select a Business Broker:

It is necessary to locate an ideal and professional broker, who helps the trade reach the highest pinnacle. Below mentioned are the steps to follow, while selecting an appropriate business broker.

1. Obtain referrals: Individuals can get few references of good business brokers from relied sources. Trusted sources are often the safest and the best bets to bank on. These sources comprise accountants, peers, business partners or lawyers.

2. Check their credibility: Business brokers are the members of some or the other associations. Check if they have any credential certificates pertaining to brokerage, such as legal license issued by the state. It helps to ensure that, an individual is working with a professional and qualified broker.

3. Due Diligence: As a potential buyer or seller verifies all the details related to the company, individuals also require examining the background of a particular broker. Check their years of experience and see, if any lawsuit is filed against them. Visit BBB (Better Business Bureau) of the state or local area to investigate about the broker. It is quiet important to verify whether the broker has dealt with the same industry earlier or not.

4. Specialist broker: Locate a broker who specializes in selling or buying of ventures, as per the desired industry. Brokers involving all their time in setting up business dealings are highly recommended over the part time brokers. Since, a full time broker has wide network of associates and also, has better understanding of the business valuation. If an individual is considering business merger worth millions, then it is crucial to find a broker completely devoted to the profession.

5. Promotion plan: To carry out dealings as such selling, buying, marketing and promotion plays a major role. Hence, confirm that broker has a proper promotion plan which includes advertising strategies and negotiations with the prospective clients. An ideal broker needs to possess proper planning skills to attract and encourage as many clients. Search the brokers who fulfill all requirements.

6. Less Front Fee: Avoid any business broker who charges heavy fees. Ideally, the broker fees ranges between 10 – 15 percent of the stipulated transaction. This fee includes all the advising fees, executing the application process and the business assessment.

7. Code of Secrecy: A broker is required to ensure complete secrecy in all dealings. If an individual is selling a business, then any such leaking of information can lead to exit of key staffs, suppliers and even customers. A broker has to keep all the matters pertaining to a deal secret. Hence, select a broker who guarantees to keep matters highly confidential, to protect the company’s interest and faith in public.

8. Avoid rush decision: Take time to finalize a broker. Do not select the broker in rush. Also, never permit a broker to take charge of the situation or induce pressure. The buying or selling of a company is a difficult deal. So clarify all doubts and then, choose a business broker.

Advantages Of Business Brokers:

Business Brokers have immense market knowledge, so they help people to gain true value of their company’s dealing. They save considerable amount of time. They make use of MLS system (Multiple Listing System) for sale or, refer to MLS system to locate an ideal venture. They guide their clients throughout the transaction process and help in preparing the necessary documents.

Business brokers prescreen the buyers for their financial qualification and then, close the dealings. They negotiate the prices on seller’s behalf. These brokers draw forthcoming clients in numerous ways. It includes, listing the limited details of business availability on their websites and promoting it in commerce newspapers. Brokers also approach the prospective sellers or buyers, to estimate their interests. Hence, an ideal business broker helps to wade through unsolicited offers and thereby, gain entrĂ©e to a large pool of potential clients.

Besides, brokers help in the negotiation process of the deal. They assist both the parties to remain focus on their eventual goal and skate over troubles. Brokers are aware about the latest laws that affect the business such as license and permits to escrow and financing. Broker ensures that risk of missing any crucial form or step in the deal is negligent.

A good broker always pinpoints the interest of the client and initiates by finding about the client’s skills. Thereafter, help in selecting the appropriate business.

Business Mums – How to Successfully Juggle Being a Mum and an Entrepreneur

As mums we already have a busy life and it is a well known fact that women are great at juggling a hundred and one things at once. But when it comes to taking on a home based small business as well, things get a little more challenging. As business mums already know it can be challenging trying to juggle the children and a business smoothly but it can be done and you don’t need to be ‘superwomen’.

Organisation and a ‘great well oiled plan’ is the key if you wish to create a successful business and lifestyle.

When becoming a business mum it is important to have a balance between your children/family and your small business, otherwise your new business will take over. A business doesn’t grow over night so don’t try and make it – a few extra hours a week will not achieve this.

If you want to create a successful professional wahm business you will need to make some decisions about when you are going to work in your business and who will look after the children at those times. So here are some great tips to help you successfully juggle both:

1. Have a routine and plan your day. Write down everything you need to do and achieve. Include personal and business goals and then put together a weekly action plan and daily task list. It will make it easier if you can dedicate set days to your business and then you can do all your business tasks on those days.

2. Separate your work and family time. Make a clear distinction between the two. Set time aside for your family and avoid working in family time. Trying to work with children in tow is not a great recipe for success and not very fair on your children.

o Set up an office environment away from the children. – This will help you to focus on work and be professional.

o When making phone calls – children will always interrupt so make your business calls when they are asleep or when someone else can watch them. It is not professional to make calls with noisy children in the background.

o Do the day-to-day running of the business. If you look after your children full time, working when the children are asleep can be a great option.

3. Have set working days. This will help you to focus on your business with no interruptions from your children. If you need some additional time to concentrate on the business then consider having your children looked after for a period of time each week by a relative or friend, Childcare or Family Day Care or a Nanny?

4. Get help from experts. If you try and do everything yourself, you will pay a high price – your health, family time and an unsuccessful business. Find experts who offer help for small business; use their knowledge to help you grow your business. Outsource tasks by recruiting a PR person, a bookkeeper, an admin person etc.

5. Know what you want to achieve from your business. Having definite objectives will help you to work towards your goals. Break them down into smaller goals that you can achieve as you work towards your ultimate goals. It is much better than having everything going round in your head and being unsure whether you are actually achieving anything.

By following these few steps, your home based small business will develop the strong foundations it needs to succeed. Remember, building a wahm business takes time, and you must be patient and dedicated to be successful.

Marketing Business Options For the Aspiring Entrepreneur

On the web the term “small business” is often used in the same context as “home based business” because the business owner(s) operates from residence or a small office. Generally small business owners look for income to supplement their other sources of revenue. Or, they earn enough to support their family unit with something extra. Numerous small business owners are able to earn substantially more while managing their operations on small scale. This is also usually done as a supplemental activity to a full time job or in preparation to move from the full time job into an entrepreneurial position.

The expansion of the internet has provided tremendous capacity for the growth of small business. Every year tens of thousands of persons are attracted because it is extremely simple to start a business on the internet without incurring much cost. Some of the more common types of small business on the internet are discussed below. Although there is negligible cost in starting various of them, the business owners end up spending considerable amounts trying to promote their business. Statistics of the last several years show that very small percentage of people involved in small business are able to earn a profit. But small business provides opportunities to earn huge amounts and serious players with the correct approach are able to take advantage of these possibilities.

There are several ways in which a small business can be set up on the internet. Some of the more common types are discussed below.

1. Affiliate programs: They are by far the most common type of business preferred by small business owners. The business owners earn commission by selling or facilitating sales of products and services of other organizations. There are thousands of affiliate programs available. On the internet it is very simple to register with these programs. The registration is free for the majority of the programs. Therefore people eager of making extra money are easily attracted by affiliate programs. After all there is hardly any danger involved in becoming an affiliate.

All affiliate programs do not maintain the same standard of efficiency and ethics. They vary in quality from excellent to extremely bad. Therefore the small business owner has to be very careful in selecting the affiliate programs he/she wants to get associated with.

2. Displaying ads on web pages: Google AdSense has made display of contextual ads a major source of revenue. The business owner puts up ads such as Google AdSense on his/her web pages. When a visitor clicks on the displayed ads the business owner earns a commission. Normally the web pages will display not only ads but also affiliate and other links providing multiple streams of earnings.

3. Selling personal products: Small business can be set up for selling the products prepared by the owner. The product could be in digital form or it could be a physical product. The business owner can also start an affiliate program to sell his/her own products. In many cases the products are not really prepared by the owner of the business. The products are made by someone else, but the business owner buys the right to sell the products as his/her own. This is particularly true of digital products.

4. On-line positions: Plenty of on-line jobs are available for those who wish to offer their services. They get paid by number of jobs completed. There are many on-line jobs (where the completed jobs are submitted on-line) such as mail order jobs, typing jobs, transcription, writing articles as a ghost writer, designing websites, preparing sales pages etc., to name just a few.

5. On-Line surveys: There are many organizations that conduct surveys for themselves or their clients. The business owner can register with these organizations. He/she can be invited to participate in the surveys when his/her profile is found suitable. Compensation for participation in surveys varies greatly. In many cases money awards are given to selected people and selection is done by draw of lots. In some other cases all participants are paid by cash. Some organizations compensate by giving gifts to the participants.

6. Other sources of income on the web: There are many sources of income which are specific to the net. There are programs that pay their members for reading letters, or only for opening them. Auto surfing is another source of revenue in which payments are made for viewing certain minimum number of pages. The auto surfing programs do not guarantee payments. Therefore members can participate at their own risk.

These are some of the options for small business on the net. But achievement does not come automatically or immediately. It takes time to construct and grow a business, even a small business – usually in the 3 to 5 year range. Those who are prepared to put in constant efforts and use the right mindset can look ahead to becoming extremely affluent through the business.