The Business Owner » Business Strategy

Map Guides Business Owners to Maximized Payday

Stephanie — Sun, 11 Jul 2010 13:41:04 +0000

Business owners find their motivation in varied things. Commercialize a pioneering methodology. Be one’s own boss. Prove naysayers wrong. Provide a great place for people to work. While every entrepreneur has his or her unique set of goals, virtually all share one in common — to one day sell for a boatload. How much? Well, more is better. And so the question every business owner asks is: “What can I do today to maximize the eventual sale price of my business?”

How Business Sale Price Is Maximized

Stephanie — Tue, 01 Jun 2010 18:36:15 +0000

When your mission is to sell your business for absolute maximum, it’s a sales process. A business sale price is a negotiated item. No list prices to go by. Sure, there are some rules of thumb. Some generally accepted earnings multiple ranges. But the ranges are large. We’re talking doubling and tripling of the prices paid. Millions of dollars hang in the balance for the prospective seller of a midsize company. Pair this with the fact that every business seller wants to sell for maximum value and the question becomes: How does the business owner go about securing maximum value?

The New Health Care Legislation — Decoded

Stephanie — Fri, 14 May 2010 15:24:46 +0000

While the new health care legislation signed into law on March 23 is indeed large, complex and far-reaching, we’re happy to report that the alarmist rhetoric emanating from some corners seems to be largely hyperbole. Even the highly publicized recent “one time charge to earning” announced by some large employers such as AT&T and Caterpillar appears to be extreme and politically motivated.

Debt Reduction During Tough Times

Stephanie — Mon, 10 May 2010 10:37:30 +0000

Difficult times are not for simply hunkering down and waiting out the storm. It’s a time for courage, creativity and action. Is your business struggling financially? Have you been forced to lay off employees? Are you late paying creditors? If so, your creditors fear the worst. You probably do, too. Maybe there’s a win-win here?

Tips for Making a Great Impression

Stephanie — Wed, 06 Jan 2010 02:01:17 +0000

Warm, healthy smile. There may be nothing more important than a warm, healthy and relaxed smile. You’ll feel happy, more comfortable and be well on your way to making a good first impression. Eye contact. Just as important as a warm smile is eye contact. Engage people by looking into their eyes as you meet them, listen and converse. Of course, it’s open eyes with a smile and a nod (as opposed to a cold stare)!

How to Make 2010 Your Best Ever

Stephanie — Sat, 02 Jan 2010 01:58:53 +0000

Is your world on such a desirable trajectory you can just keep doing what you are doing and get the results you want? If so, read no further. If, on the other hand, you want to accelerate your progress, change your course or hit some definitive accomplishments, now’s the time to set your goal and develop plans for achieving it. It really is this simple.

Less Is More

Change is not easy. To succeed at change you need focus. So when you set goals, set just one big one. There will be plenty of action steps required to accomplish the goal. Just be sure your goal is a worthy one.

Now’s the time to set your goal for 2010. What will it be? What is the one thing you really want to accomplish?

Words from an Accomplished Man

Lou Holtz is known for keeping it simple. He’s also known for setting big goals and achieving them. For being born with little and accomplishing a lot. He says that to be a winner takes just three things:

Do right.

Do your best.

Treat others as you want to be treated.

He also says that if you want to be successful, all you have to do is:

Define exactly what success is for you.

Be persistent.

To be sure, 2010 is going to come and go. There will be 365 sunrises and sunsets. 252 official workdays. So what do you say we try to make the most of them? Make 2010 a year of real progress? Make sure that one year from now you’ve accomplished something exciting? Rewarding? Worthwhile? Breakthrough?

It’s up to you. It’s also in your hands. Either you dictate what 2010 will be or let it give you whatever it wishes. Either way, 12-31-2010 will be here before you know it.

The Key to Enduring Business Growth and Success

Stephanie — Wed, 07 Oct 2009 15:00:24 +0000

Continuous investment is the one absolute key to a successful business. Take Microsoft, Intel, Caterpillar and Nike as prime examples. All of these companies reinvest major amounts of their revenue and annual profit to build a stronger, more profitable business. When you invest, you delay gratification and forego the enjoyment of something else – usually dollars – in exchange for potentially higher rewards in the future. Heed this advice and your business will stand the test of time.

Opportunity in the Economic Downturn

Stephanie — Tue, 01 Sep 2009 15:00:06 +0000

With every recession or economic downturn come business opportunities. Even though revenue is down, there are other ways to improve your business. Locate and hire some top talent who may have been laid off. Make that capital investment you’ve been putting off since you can probably get more for less. And, negotiate and lock in low long-term rates for business functions such as advertising, rental of a facility or a deal for computer network support.

Business Basics: Gross Profit and Gross Profit Margin

Stephanie — Tue, 01 Sep 2009 13:27:03 +0000

Your gross profit and gross profit margin are two of the key ingredients in a successful business. Even though revenue is important, your firm’s gross profit is more relevant. In addition, the gross profit margin provides the cash your business needs and it drives the bottom line. Maintaining healthy profit margins on individual sales is critical since one losing product line can have a significant negative impact on your company.

Time to Exercise Your Option to Buy Out a Partner?

Stephanie — Sat, 01 Aug 2009 15:00:51 +0000

There’s no doubt business profits are down so now might be a good time to buy a shareholder out and increase your ownership percentage. Just hope that shareholder doesn’t have the same idea.