Most business owners start out with a business name, when really they should start out thinking about what type of business entity to form. Selecting a name, registering that name, and possibly trademarking the name mean that you have made a commitment to that name. Check out these great tips from www.mynewcompany.com: Which Type of Business Entity to Form? When starting a new business, one of the first decisions to be made is deciding which legal structure your company should take. You have 4 choices: DBA Regular or "C-Corporation" S-Corporation Limited Liability Company DBA A DBA (also known as a "sole proprietorship", "Doing Business As", or a "Fictitious Name") is a business that is not separate from its owner, merely a different name that the business owner operates under. The owner is personally liable for the company and its debt; all income is added on the owner(s) personal tax returns (pass-through taxation). If there is more than 1 owner, then the … [Read more...]
Small Businesses Are Hiring
A report by the payroll company, ADP, states that small businesses, those with 50 or fewer employees are doubling the amount of workers hired since last year. Firms hiring include transportation, service companies , manufacturing, financial, electronic and computer companies as well as many others. According to the labor department, the unemployment rate for March, dropped to 8.85 %, to a two year low. Before you decide to add staff to support your small business here are some rules you should follow: 1.Before you hire, show yourself the money - Don’t hire until you have the revenue to support it. 2. Take your time and hire the right people - There is still high unemployment despite the drop so there are plenty of prospects out there. 3 Create a productive workplace in which people are treated well - Creating a positive workplace will bring success back to you in spades . i.e. Apple, Google, Amazon. 4. Focus on increasing your sales team - This … [Read more...]
Marketing Musts For The Business Owner
1. Define your customer. Know who you are marketing your business to. Establish your demographic. 2. Make a real social media push. Create customer accounts with Twitter, Merchant Circle, Fastpitch, Manta, Facebook and LinkedIn. The business benefits of social networks are very real. Countless small business owners have made valuable connections, including new customers, through their participation in social networks. Participation is the key to success when it comes to social media but you also have to establish your credibility as a member of the social media community. 3. Use public relations to legitimize your brand and expertise. Getting your brand in Print, TV, and Radio all increase Brand Awareness. 4. Don't Underestimate SEO (Search Engine Optimization). Hiring someone to handle your SEO is a must. However, before you hire an SEO consultant make sure to get references and don't hire anyone who seeks you out. Remember no one can guarantee you a number one spot on … [Read more...]
Exit Planning
Business owners win when they leave their companies on their terms and on their schedules. The process owners use to achieve this victory is known as Exit Planning. In short, Exit Planning is the deliberate, adaptable, and customized process that a business owners use so that they can leave their businesses on their own terms and schedule. THERE IS A PROVEN step-by-step process that leads business owners to ultimate success — the profitable sale or transfer of their businesses. Thousands of business owners have tailored this process to meet their particular exit objectives and have left their businesses with more cash than they’d ever imagined. A complete Exit Plan rests on The Six Step Exit Planning Process. These Steps are illustrated in six simple questions: Do you know your exact retirement goals and what it will take — in cash — to reach them? Do you know how much your business is worth today, in cash? Do you know the best way to maximize the income stream generated by … [Read more...]
Emerging Markets
American small to medium sized businesses, are the backbone of the U.S. economy. The news that small businesses will now be assisted in expanding into emerging global markets should make entrepreneurs and small business owners confident. We are hopeful that the government will shift its focus away from huge corporations like Halliburton to concentrate on helping smaller to medium sized businesses which are the types of businesses that produce products and services that the overseas market likes. Now that the U.S. dollar has shrunk in value, our products are now much more affordable to countries overseas. A new initiative that the government (through The Overseas Private Investment Corporation - OPIC) makes us hopeful that the focus will now be on helping small to medium privately held companies, which are the type of companies LISITEN ASSOCIATES represents. (Hopefully) our companies will be able to take advantage of OPIC. OPIC was established … [Read more...]
Buyer Confidence Bigger Than Ever
The buying and selling of businesses slowed down for more than a year beginning October of 2008 . Now it appears buyer confidence is back and better than ever. We have a broader base of buyers as well. Mergers and acquisitions posted a fourth consecutive quarterly increase in the second quarter and deals in the first half of the year reached the highest level since 2007, an indication that more companies are increasing their confidence in the economy. During the economic downturn, many companies were hesitant to sell, concerned about not getting a fair price while larger corporations hoarded cash to survive the recession. Buyer confidence definitely increases or decreases due to fluctuations in the economy. As of 2011, we are busier than ever before, getting hundreds of calls per week of interested parties wanting to buy businesses. We are getting over 100,000 hits per week on our websites. We are seeing over 150 new buyer registrations weekly. Many of them are … [Read more...]
Selling Your Business Now
There are 79 MILLION baby boomers in this country and within two to three years , those that own their own their own Businesses, are going to be selling their businesses ( approximately 15 million new sellers). Now is the best time to sell a business before this increase in competition takes place. Competition drives prices down and with more baby boomers deciding to sell over the next few years, you will get less money for your business if you wait. The good news is that many small businesses appear to be getting healthy again so these next two years may be the prime time to sell. In addition, we are experiencing a period of very high buyer demand – there is a large contingent of buyers, with money, chasing very few deals. This is especially true for baby boomers who may be looking to retire in the near future.Just think about what it might cost if owners wait until after taxes eventually do go up. First of all, the ‘paper value’ of many business to make up for the … [Read more...]
Lisiten Associates Acquires Licensing Rights for Bedbugenders, Inc.
RT Public Relations, LLC LICENDERS announces a new product line and service, BEDBUGENDERS For Immediate Release, January 27, 2011, contact, Renee Towell 201--606-1693) - Just a week or so ago, on ABC television’s “Live With Regis and Kelly”, Mark Consuelos (who was filling in for Regis Philbin) and his wife, co-host, Kelly Ripa started having a discussion about bedbugs which then turned into a conversation about head lice. Ripa could get the audience to laugh about bugs and that makes Adie Horowitz, CEO of LICENDERS very happy! Ripa gave an unsolicited verbal plug for LICENDERS, a company that has a natural product line to get rid of those pesky head lice bugs and a home service as well as a New York City salon. Ripa and her family used the service just this past summer when her daughter Lola got head lice. What Consuelos and Ripa did not know was that Horowitz has been toiling away at creating a natural bedbug line and at home service for the last year which is coming out … [Read more...]
Seller Financing: The Basics
Seller financing has always been a mainstay of business brokerage. Buyers don’t have the capital necessary to pay cash, are unable to borrow the money, or are reluctant to use all of their capital. Buyers also feel that a business should pay for itself and are wary of a seller who wants all cash or who wants the carry-back note secured by additional collateral. What sellers seem to be saying, at least as perceived by the buyer, is that they don’t have a lot of confidence in the business or in the buyer or perhaps both. However, if you look at statistics, it’s apparent that sellers usually receive a much higher purchase price if they accept terms. Studies reveal that, on average, a seller who sells for all cash receives only about 80 percent of the asking price. Sellers who are willing to accept terms receive, on average, 86 percent of the asking price. The seller who asks for all cash receives, on average, a purchase price of 36 percent of annual sales while the seller who will … [Read more...]
Business Valuation
Many experts say no! These experts believe that only half of the business valuation should be based on the financials (the number-crunching), with the other half of the business valuation based on non-financial information (the subjective factors). What subjective factors are they referring to? SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats – the primary factors that make up the subjective, or non-financial, analysis. Below you will find a more detailed look at the areas that help us evaluate a company’s SWOT. … [Read more...]
