How to Structure the Sale of Your Business
Prior to selling your business, you need to determine what is most important to you as a seller. Is it strictly price, or is it also the terms of the deal? Terms drive deals, and by negotiating the terms carefully, you can walk away with a deal that is comfortable as well as profitable. Read More »
How to Prepare Your Business for Sale
Selling a business can be the largest and most important deal of an entrepreneur’s career. Regardless of what prompts the sale, selling a business is a high-stakes transaction, with far-reaching financial and emotional consequences. Read More »
Setting Up a Performance Management System
Setting up a good performance management system doesn’t happen overnight or by accident. You need to consider its design and carefully plan how it will work before managers begin using it to evaluate employees. Read More »
Finding a Business to Buy
Finding a business to purchase should be the final step in a process that begins with self-evaluation and a sound financial assessment. Obviously, before buying a business, you’ll need to determine what type of business you are qualified to run and would enjoy owning. Read More »
Developing a Press Kit for Your Small Business
You can market your business to the media on a budget. Firms utilize a press kit to introduce themselves to the news media. A press kit provides reporters, investors, and analysts with vital information about a company’s composition, recent news, and prospects for growth. Read More »
Developing Your Company's Logo
Advertising agencies have traditionally been the source for logo development. But online logo development is a better choice Read More »
What Type of Corporation Is Best?
There are two basic types of corporations: S corporations and C corporations (excluding corporations formed by nonprofit companies, which are known as 501(c)(3) corporations, named after the IRS code that addresses them). The problem with a C corporation Read More »
Top 10 Mistakes Businesspeople Make When Forming Partnerships
Partnerships can provide a means by which partners can pool their best skills and resources to create a sound business. Mistakes can be made, however, in both general and limited partnerships, and these mistakes can impair the progress and potential growth of the business. Here are 10 of the most common mistakes: Read More »
The Pros and Cons of Partnerships
General partnerships have many benefits, but perhaps the most compelling is the ease with which they can be set up and maintained. You do not have to register with your state and pay fees, as you do to establish a corporation or limited liability company (LLC). And because a general partnership is normally a “pass through” tax entity — meaning the partners, and not the partnership, are taxed — filing income tax returns is relatively easy. Read More »
Make Your Competitive Analysis Stand Out in Your Business Plan
Before writing the competitive analysis, first identify both direct and indirect competitors. You can locate listings of local businesses, search the Internet for online competition, and seek out mail order businesses that might offer competition. However, the best way to create a strong competitive analysis is to visit your competitors, study their prices, understand their customer base, and uncover the services they offer. Read More »
