The Business Coach - 7 Ways to Maximize When You Sell Your Business
By [http://ezinearticles.com/?expert=Jeff_P_Smith]Jeff P Smith
What's the last thing you should do before selling your business? What's the first question you should ask yourself before opening your business? Answers below.
It would be fair to say that businesses have plenty of questions when it comes to selling up.
How come the ice cream shop owner knows how to sell, market and add value to ice creams by sprinkling chocolate, putting in flakes and sticking sweets on them to turn 50 cent ice cream into a $3.50 masterpiece.
Yet when he comes to selling his ice cream business he presents and promises potential purchasers a complicated, hard to run business with no end of hassles, unrelenting hours, no lifestyle, lack of financial return and a pretty gloomy unreliable financial outlook. Why would anyone want to buy into that?
Business Sellers today are in a highly competitive situation. As baby boomers look to retire over the next 5 -- 15 years there is an ever decreasing supply of business purchasers with your particular skills and a bundle of cash large enough to buy your business. Yes there are people who want to buy your business but buyers have a choice and they are not going to give your business a look in over an easier, less complicated enterprise.
The best time to think about how you are going to sell your business of course is the day you open your business or as a second option TODAY. Start planning now for the big pay day! Here are some of those factors that potential purchasers are looking for when deciding on what business to buy
1. Your Business can show proof of long term ongoing work
2. It has a recurring profitable revenue stream
3. Employee and customer churn is minimal
4. You can prove that there is more income growth in the business - and how to achieve it
5. You can show value of intellectual property -- (Name, brands, etc)
6. Can be run simply and easily by anyone
7. Shows an excellent return on the capital investment
There are plenty of tools and advice available to help businesses realise an absolute maximum return for their (sometimes years) of hard work.
Whats the last thing you should do before selling your business? Put out the for sale sign of course.
PS -- What's the first thing you should when thinking about going into a new business? Figure out your exit strategy. That way everything you do in your business adds to your business.
Jeff Smith is the Master Franchisee for BOOST Business Coaching -- New Zealands Premier and only specialized Small Business Coaching Company. We specialize in adding value to Business Sale Prices -- http://boostbusiness.co.nz/art/?p=96 http://www.boostbusiness.co.nz
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Get the Most Out of Your Business With IT Consulting
By [http://ezinearticles.com/?expert=Bob_Westman]Bob Westman
Underutilized, inadequate, or inappropriate technology can really hold your business back. Whether your staff is struggling to learn new software, your computer systems don't meet your storage and computing needs, or you just don't have the right combination of software and hardware to make your company soar, assistance from a qualified IT consulting firm can help get your business back on track. Providing a full range of technology-based repair, training, and consulting services, your local tech company can help you get the absolute most out of your business!
You'd be surprised at how often companies sabotage themselves by implementing new hardware or software without providing adequate staff training. Employees simply don't know how to best utilize the technology at their fingertips without basic instruction in the features and operation of everything from high-tech printer/copiers to industry-based software. With training from your local IT consultants, you can optimize productivity, technology effectiveness, and even employee satisfaction and moral! Specialized hardware and software training can help your staff exploit your technology to its fullest, helping you get ahead in your industry.
Don't risk losing important business documents, projects, or other computer-based information. In today's high-tech society, almost every company depends on their computer systems for data storage and so much more...Don't take the chance of losing everything: contact your local commercial computer service for complete data backup. Providing both emergency and routine data backup, your IT professionals can create a data storage plan that automatically saves your sensitive information in a safe and secure manner.
Commercial Computer Repair
Computer downtime can cost your company big bucks, so keep your hardware in top working condition with [http://computer-services.kansas-city-biz.com/site/services/service/Computer-Repair-Services-Kansas-City-KS]computer repair from your local IT specialists. If malfunctions, bugs, or system failures are causing problems for your computers, these pros can get you up and running again ASAP. Don't let technical difficulties cut into your bottom line, get your computer issues fixed fast with your local computer repair professionals.
Utilize the knowledge and expertise of your local IT firm to help your company get ahead. When you're facing technology challenges, these experts can bring you cost-effective solutions to keep your computer problems from holding your company back. Contact your local IT specialists today to learn more.
Bob Westman is the assistant Internet marketing manager for Prospect Genius, providing [http://www.prospectgenius.com]SEO for local businesses.
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How Collaboration is Different From Consulting
By [http://ezinearticles.com/?expert=Nilakanta_Srinivasan]Nilakanta Srinivasan
Indeed they are different; Most widely accepted definition of a consultant is an expert or a professional in a specific field and has a wide knowledge of the subject matter and one who provides advice in that field.
So by definition a consultant has very limited execution responsibility. However commercialization of the 'Consulting Industry' and intense competition has led to a situation where firms promise to own or share responsibility of execution. But in reality, they primarily role is to advise so things fall through the cracks as the engagement proceeds.
Due to their envious position as subject matter experts, consultants usually have an upper hand in their relationship with clients. Many times, this biased relationship is not very conducive for building trust and confidence between both the parties.
"The test of a good consultant is not whether he or she has generated a unique insight, but whether the insight can be applied to produce positive results. Consultants can't just be smart; they have to be capable of delivering a business outcome" - The Economist
That is why consultants are usually criticized for the following:
- Theorizing problems and making them difficult to comprehend
- Heavy usage of Jargon!
- Force problems into a 'methodology' they know
- Attempt to make projects bigger or longer than they need to be
- Produce an elaborate dossier called 'Project Report' that reiterates the problem
Not all consultants have such deficiencies, but it is very prevalent.
'Collaboration' on the other hand is a recursive process where two or more people or organizations work together intersection of common goals - for example, an intellectual endeavor that is creative in nature -by sharing knowledge, learning and building consensus. Collaboration does not require directive leadership and can sometimes bring better results through decentralization and egalitarianism.
Traditionally, collaboration is widely popular among authors, academicians & researchers. These are fields where two or more experts with diverse and varied experience work together to towards a common goal. So 'execution & result orientation' is at the heart of collaboration. And unlike consulting, there is no role to just 'advise' and not own execution.
Good collaboration has the following elements:
1) Tactical - Where one tells other teams members specifically what to do in his/her areas of expertise
2) Tacit - Where one trains other members on how to handle issues/situations beyond technical stuff
3) Co-delivery - Where one dirties his/her hands and work together with the team
4) Partnership - Where one recognizes that they are not experts in all disciplines. Hence he/she partners with other experts in the team
There is no need to emphasis which one is better when it comes to 'change management'. Collaborative style of change management is several notches above consultative style.
Known in short as Neil, Nilakantasrinivasan helps individuals and organizations to improve their performance, profitability and processes.
He is an expert in Operations Management, Customer Experience & Project Management.
Neil's approach is not to prescribe any 'methodology'. Instead he uses his experience with Hoshin Kanri, Balance Scorecard, LEAN, TQM, Six Sigma, Triz, Theory of Constraints, Knowledge Management, industrial engineering methods, ISO, PCMM, etc to deliver a composite solution that will resolve the pain points and improve profitability, productivity & process.
Fore more information check out http://www.collaborat.com
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