Selling

So finally the time has come to sell the business. After investing years of your time and uncounted thousands of dollars, it has become successful, providing for your needs and wants, and it's time to enjoy the fruits of your labor. Where do you start?

A good time to start thinking about selling a business is right after startup, when it shows signs of beginning to succeed and become self-sustaining. Even if you are planning on bequeathing it to your progeny or a partner, it's never too early to think about what will happen afterwards.

The first step is to take your time--selling a business is a complex process and you will only do it once. Confidentiality is a necessity at this point, as word of an impending sale can cause repercussions among employees and business partners (suppliers, customers, etc.) alike.

Your position in the business is also a point to consider. If you are the sole proprietor, the decision is yours alone. However, if you are a partner or board member, selling your part of the business will involve more considerations.

Finding a good broker is worth any amount of time needed to locate one you are comfortable with. Check the Better Business Bureau for any investigation history, and get referrals from fellow business owners or from industry associations like the International Business Brokers Association (IBBA). This is a non-profit "trade association of business brokers providing education, conferences, professional designations and networking opportunities" (IBBA), as well as professional certifications and boasts over 1300 members.

Next, a professional appraiser should be consulted, as just like selling a home, a professional appraisal will give a fair value to begin negotiations with. Keep in mind though, an appraisal is an estimate of the fair value of a business' hard assets, and the market value of the business may be higher or lower, as a business is only worth what someone else is willing to pay. <




Determining major terms and price are issues that you are going to have to work out with your broker, but a few basic factors come into play: what do you want to get out of the sale? Continuing salary? Lump sum? Stock options? This is a step often overlooked until late in the negotiations, often to the detriment of the seller.

Financing the sale is usually about 90% left to the seller. If you can't or won't be willing to cover the costs of the sale, it may not be a good time to sell.

Once you and your broker have located a buyer and agreed on a price, a Letter of Intent is drafted. This letter outlines the terms and tentative price in a non-binding document and allows the buyer time to thoroughly investigate the business. This process is subject to Due Diligence, as the onus of discovery is placed upon the buyer and buyer's agent.

After the discovery process is completed to both parties' satisfaction, the Purchase Agreement is drafted. This set of paperwork creates a formal agreement between buyer and seller regarding purchase price, terms, and other legal details. Once the respective lawyers have finalized the details and complied with state law requirements regarding the sale, the Purchase Agreement is signed, closing documents finalized, and the sale is complete. If everything has gone well, it's time to breathe a sigh of relief and start planning what to do with all that free time!

Getting Your Craft Show Business Off The Ground

For years, family, friends and even people who you just meet, have really liked the crafts you produce. They are the centerpiece for conversation at holiday dinners, or the, "that's a great idea" thing when neighbors come over for a coffee. So, you've decided that you might be able to make a profit off of selling your crafts to others. Great! Here's what you need to do to make it work!

1.) Have a plan – Even if you just scrawl it down on a piece of loose leaf paper, that will work – but you should definitely go into this with a plan. You will plan for things like: how many craft shows you will attend, the cost to make the craft and how much you should sell it for, craft show expenses (they vary from show to show), how many crafts you want to produce, and so on.

By going into this without a plan, you are essentially going in blindly, without a path to follow. This can be a precursor to failure – and that isn't what we want. Set some goals, determine a few craft show costs and you are going to be much better off.

2.) Search the markets – A lot of people have expressed an interest in your craft, but are they going to buy it at craft shows? In order to find out, you need to go to a few craft shows before you start out on your own and decide if this product you have will sell. Are others selling it? If so, how is it selling?

Further, you can talk to craft store employees, other crafters, people at the craft shows – essentially anyone who might have an interest in your product and see if your craft is something they would buy. This is a slimmed-down version of market research – but it will be valuable to help you get your craft show business off the ground




3.) Present well – If you have put together a plan, done your market research and you are ready to take this crafting business to the next level, then here is something you need to think about – presentation. If you just have a few tables with your crafts strewn about on the table – people will be less likely to buy.

However, if you create an attractive sales area, make your products easily accessible and provide a simple transaction for the customer – they are far more likely to buy!

4.) The price is right – You bet it is! You will have to do a little bit of price discovery when you start, just to see the price when most of your crafts are going to sell. Some tips for finding the best prices are: go a penny lower than the next highest number; for example $9.99 instead of $10. Ask people what they would be willing to pay for it. The question may come as a surprise to them, but chances are they will give you an honest answer.

The above points are just the tip of the iceberg. If you are starting a business to sell your crafts at craft shows, you need to do a little bit of groundwork before you start. Talk to others who are in the business and you will find out more along the way. Good luck!

Marketing Your Online Home Business

Home businesses, like other businesses, aren't successful just because they exist. If you want to work at home, you have to learn about marketing a home based business.

Marketing depends in large part on the type of business you have. Marketing on the internet works for most kinds of home business. Even if you plan the bulk of your business from your local area, a website adds professionalism. When sending emails, make sure you include information about your business in your signature file.

If you own a website or other business on the internet, you need customers. With all the competing websites, how do they find you?

You need to have some good strategies for marketing an online business. One of the most used strategies for marketing a home business is learning to get a high search engine ranking. If you don't rank highly you may have difficulty being found.

There are some key methods for high ranking. Start by keeping everything on your site relevant to the subject. This makes good sense anyway because once the customer has found you, you want him to stick around. Choose a domain name and website title that fit well with your business keywords. Your title should be easy to remember. Links to your website make a difference in search engine rankings, so contact sites that offer information complementing yours and ask for reciprocal links. Be aware that this information can change as search engines redesign their methods for relevant results.

Another strategy for marketing an online business is to use pay-per-click advertising. This can be a fast way to get listed high in the search engines. There are several providers of pay-per-click advertising. It pays to check out a variety to see which suits your needs the best.<




Weblogs are a newer source for marketing an online business. They tend to rank well, and consumers like them. Use your blog to talk about your industry and provide links to your website. Blogs add a lot to your marketing program and can be fun to write.

An often overlooked tool for marketing a home based business is staying in touch with former clients. You can do this through the phone or through email. Email is often the preferred choice because potential clients look at email when they have time and are not interrupted to do it, as they are on the phone. When emailing former clients, let them know you enjoyed working with them and want them to remember you for future projects.

Look for ways to meet potential customers. Go to trade meetings or conventions. For example, if you are selling pet products, attend dog shows and county fairs.

The major ways to for marketing an online business are similar to other businesses. Find customers you can serve and find ways to let them know you exist. After they become clients, serve them well and ask for future business. This is how you keep your business running.

Marketing a home business is essential for success. Use all the marketing strategies at your disposal and watch your traffic grow.

10 Ways To Make More Money In Network Marketing

Network Marketing is an excellent way for the "average Joe or Jane" to make an extra income. This business concept has been around for decades, and it will not disappear any time soon. The reason for its popularity is simple... It Works! It does however, require lots of work and most importantly, dedication and persistance to get the job done. The best part is, once you are able to set up a solid network, your business becomes MUCH less time intensive. Almost like going on "autopilot". The key is to get there as fast as possible.

Here are just a couple of tips I have found to be helpful in maximizing your Network Marketing Business:

1. Use your products regularly. This is Number 1 for a reason, this is the most ignored part of ANY network marketing business. How do you expect your business to succeed if you will not even use your own products? It does seem silly to even have to bring this up, but there are many who are not using their own products, and wonder why they are not making any money. Make a commitment to use your products for a year, and see where your business goes.

2. Educate yourself constantly. This is very important! You must rid yourself of negative ideas, sometimes referred to as "stinkin thinkin". This can be done in a variety of ways. I recommend reading at least 15 minutes a day, but try to shoot for 30. Business and self-help books are a great way to start. Don't forget your Multi-level magazines, as they are full of tips and advice. Lastly, listen to cassette tapes on multi-level tips from top earners in your business.

3. Spend as much time as possible with your upline. Your upline should have only one goal in mind, To Help You Succeed! They are a vast source of knowledge and information. Mingle with top distributors in your group, or other groups, and ask how they made it. Most everyone should be more than happy to provide you with excellent tips and advice.

4. Present your products and marketing plan personally to at least one person daily. Remember above when I said you are going to have to work, well here it is. Now here is the key, the prospects to whom you present your plan, do not have to be yours personally. Show the plan for your downline, and not only will you create "security" by placing members in your downlines' downline, it will also give you a boost in your personal income! I can guarantee if you were to follow this rule for 6 months, you would create a downline with enough width and depth to create an income to sustain you and your family for life.

5. Care for your downline. An entire book can be written on this topic. Usually, it's the little things that show you really care. Try to maintain regular contact, and always praise your distributor's accomplishments. You can even offer incentives for specific achievements, such as money, travel, recognition, or other rewards, to help motivate your group.<




6. Duplicate yourself by making distributors independent of you. This will help to multiply your time, thus making you and your group more effective. Always lead by example. Never stop recruiting, training and retailing. Remember the KISS formula - "Keep It Simple, Sweety" I know, I know, I changed the last word, but it maintains the meaning. This can be done my conducting simple, brief, yet dramatic presentations, and teaching your downline to do the same.

7. Create a large customer base. This is another largely ignored, yet very important, piece of your network marketing business. Many try so hard to build a huge downline, that they forget how much profit they could also make by selling their products to retail customers. Some people will just not want to become part of your downline, no matter how great a product/system you may have. This does not mean they will not be personally interested in your product. Try to make everyone your customer. Once you earn their trust, they will come to you more, and perhaps even join your downline later. Always "leave the door open", as people's needs do change.

8. Focus on your customers needs. You must give customers more than they expect, and always satisfy your customers complaints immediately. Try to listen 80% of the time, and talk only 20%. As stated above, your customers can be a huge source of future referrals and/or business. You must earn and maintain their trust. Once you have their trust, you can always ask for referrals, which leads to even more business and a larger downline.

9. Set daily, weekly, monthly, and yearly goals - and Write Them Down! You may have heard the expression, "How do you eat an elephant? One bite at a time." Breaking up a larger goal into smaller easily attainable goals, is the key to success. You cannot just jump to the end, you have to make progress everyday. Writing them down is another largely ignored, important tip to help you succeed. A goal is just a "passing thought", or "wish" until you put it in writing. That is when it becomes concrete and real. It is also a great idea to keep a business journal of your daily activities, as it will help you to become more productive and time-conscious.

10. Get Out There And Do It Now! All of the knowledge in the world is useless and unprofitable, until you put the most important ingredient of them all in place. This "secret" ingredient should come as no surprise at all, but this is the #1 reason for failure at anything in life. It is ACTION! Remember, knowledge is useless without action.


Following these steps will almost give you immediate results. Thank you for reading this, and I truly hope this has provided you with valuable information to help you and your business grow and succeed

How To Become A Mortgage Broker And Still Remain Sane

The process of how to become a mortgage broker is not necessarily a difficult one; however, many people get discouraged along the way because they are not aware of the shortcuts that are available to them. If you want to know how to become a mortgage broker and not lose your mind, here are a few simple steps to help guide you along the way.

First of all, you should be aware of the basic process of how to become a mortgage broker. There are certain licensing requirements set forth by the state which require you to pass an exam. Many states also have requirements regarding criminal history that exclude felons and people that have been convicted of crimes of moral turpitude. If you do not have a criminal record, or at least one that prohibits your licensing, and you can pass the exam, you can be a mortgage broker. Where do people get discouraged? During the exam process, it is easy to second guess yourself and your abilities, as the test is not exactly easy.

The biggest mistake people make in trying to become mortgage brokers is studying for and taking the exam on their own. While you may not be able to have someone in there to help with the exam, you can certainly get help in preparing for it. There are several training courses and study classes you can take that will cover the material on the test, answer any questions you have, and provide sample tests. These study courses are invaluable when it comes to preparing for and passing the test.




Another consideration to make is the knowledge and encouragement you can obtain from a mentor. In the same manner that knowing what is on the test can help you pass, knowing what awaits you on the road to being a mortgage broker can help you succeed. There is no reason to travel alone when someone is available to show the way.

On the other hand, you can always do it the hard way. You can order books that are hard to read and seem to complicate things; you can decide to figure things out for yourself and not ask for help when you need it; and you can choose to get discouraged and quit. It is a lot more difficult to be successful when you do things the hard way. However, now that you know the easy way, doesn't it look more inviting?