Proper Preparations to Businesses for Sale

Those that have businesses for sale have plenty going on while they are seeking prospective buyers. If they have done their homework, they have likely realized that they are well-served bringing a business broker in on the deal. In doing so, they will significantly shorten the amount of time that the business is on the market and help you to organize your information before the process truly gets underway.

Preparation is the key. From preparation to understanding the time frames involved, professional brokers can take the guess-work out of the selling process and find potential buyers that may not have ever known that your company was for sale. There are terms that can complicate things, and though you may have some sales figures in mind, you won’t truly know the value of your business until you have it evaluated by a brokerage firm. There are businesses for sale across the globe, and without the assistance of an individual that fully understands the process, you may have a bigger headache than you had ever imagined.

Basic Necessities

There is a long list of things you will need when you have businesses for sale. The employment of a business broker can help you to keep things organized, but there is plenty you can do before bringing them in. For example, keep all of your financial documents and information from the last few years together. Any lease information on the building or the franchise should also be organized and ready for presentation. This will help to reduce the amount of “processing” time that you experience when you have a prospective buyer in the building. Of course, before letting them view any of this, confidentiality agreements are necessary to ensure that your information isn’t being spread across the industry. A business broker will set all of this up for you, however.

Time Expectations

One of the most difficult parts of dealing with businesses for sale involves the expectations on the organization’s time on the market. While most people dream that they hang up their For Sale sign and within days have offers, this simply isn’t reality. Instead, business brokers can assist in the profiling of prospective buyers, the acquisition of fair offers, and the closing of the entire process. Most businesses for sale will sit on the market for two years, but when using a firm to assist, you can reduce this time amount to less than a year. Most brokers can move a company in 9-12 months, giving you the buyers you want in a time frame that is reasonable.

Entrepreneurs who have businesses for sale may experience quite a bit of frustration along the way. They have to seek out buyers, determine the value of their company, and still maintain the daily operations along the way. Bringing a broker in to assist with the transactions can be a lifesaver. There are so many moving parts involved with the acquisition or merger of a company that it can be dizzying for the owner.

There are several documents necessary to facilitate a safe and efficient business sale. Protecting all of the parties involved is one of the priorities of a broker, and because of the privacy issues, financial sensitivity, and time issues that arise, it’s imperative that a professional oversees the entire transaction. Giving up a bit of power can be difficult for a business owner, but when you realize that they simply facilitate the process, their need becomes apparent. Those with businesses for sale should always trust the individuals that are trained in the discovery of prospective buyers and the facilitation of the sale.

The 3 Growth Stages of Your Business

Last week we spoke about the 3 Types of Entrepreneurial Overwhelm and I promised that we’d discuss the “3 Stages of Business” and how to know where you are and what to do.

The 3 Stages of Business:

  1. Foundation and Get Clients: Your focus is to generate revenue and get clients while you’re building the visibility and credibility foundation of your business.
  2. Add Leverage: Now that you have several clients, it’s time to build in some leverage so you’re not doing everything all the time.
  3. Increase Profits: You have a pipeline of clients, you’ve incorporated some leverage into your business and now your focus is on increasing profits and truly making your business hum.

Sounds simple, right?

The issue is that so many business owners jump to Stage 2 or 3 without either building a Foundation or Getting Clients.

How many colleagues do you know who “want a membership program” and try launching one when their last several programs didn’t fill or they announce a product and have very few sales?

My guess is “too many” and it’s because they ignore the Foundation and 1stStage of their business.

What often happens is that Stage 1 business owners want to achieve success quickly – become profitable, earn 6 figures, host a high level program or offer high level consulting services, all when no one knows who they are or whether they’re even going to stay around.

Stage 1 business owners are often easily seduced by those who cater to opportunity seekers – simply because you’re so anxious to generate revenue. As a result, you end up in debt with very little to show for it.

A Stage 1 business owner is defined as someone who needs clients. Period.

If you’re wondering, or worried, about where your next client (or mortgage payment) is coming from, you’re currently in Stage 1.

My Request to You:

As a Stage 1 business owner whose primary business responsibility is to Increase Visibility & Credibility AND Get Clients, you want to spend a minimum of 50% of your “working” hours on Marketing & Visibility activities.

What are marketing and visibility activities?

Consistently sending out an ezine

Hosting free teleseminars/webcasts

Participating in telesummits

Being a guest on others’ teleseminars

Speaking at events

Website “free taste” or giveaway

Sponsorships – getting and giving

Posting and sharing videos

Consistently participating in social media

Consistently “contacting” your readers so you remain top of mind

Article marketing

Consistently posting to your blog

In person networking

Online forums

Attending events

Picking up the phone and calling

Press releases

Guest blogging on others’ sites

Posting and sharing audio newsletters

Hosting/Being a guest on radio shows

Sending snail mail gifts, cards, lumpy mail

And SO much more…

Now, before you go deep into “Too Much To Do” overwhelm, let me stop you and say, you don’t need to do all of the above. In fact, you shouldn’t even try to do them all.

Pick no more than 3 things which resonate with youAND your ideal clients and do them CONSISTENTLY. Once you have those nailed down, add something else.

It’s about consistently layering things on. It is not about burying yourself in overwhelm trying to be all things to everyone in the visibility world. Remember…

Ordinary Things, Done Consistently, Create Extraordinary and Consistent Results

Business of Home Remodeling

People are doing lot of business at a time, but starting the business from the beginning is not an easy thing to do. It demands lot of dedication. Home remodeling business is one of the hot choices of people now days. The major reason is the selling and buying of new and old house in all seasons. Some People sell their house for making profit, but they definitely do some renovation first for renew old house. So, they contact any home remodeling contractor. And those people, who buy the old houses, also want some renovation work. They also need some home contractor. In fact, mostly owners do remodeling and changing immediately during their first year.

Home remodeling is not difficult and expensive business like other businesses and someone can do this as part time job, and if someone have interest then this job can be very beneficial as well. But still it takes little time to become a professional home worker or contractor.

Here are some important points regarding those people who want to do home remodeling business.

Firstly, choose a unique name for the company. Someone have to register the name and the name of the state first in order to do business legally. And if the state is not same as the living place then it can be started as sole proprietor or from other company. LLC, and C -corp. are other types of ownerships. Interested people can contact well before with some authorized home contractor/builder. Someone should have a bank account. There are also some tax issues which have to be paid to the company.

Next step is that apply for license. Every home remodeling company needs to be license. In Mostly states, someone would have to acquire some license and insurance. Some states take a test before issuing the license regarding the home building, and some requires the previous experience of work under any verified home contractor/builder. Experience can vary in different states.

Buy a book keeping software and learn how to use it. It will help to reduce the accounting work like estimations and tax calculations at the beginning as in the ending of the work. This will help to reduce errors and provide a way to keep things simple and efficient.

One of the most important things in business and home remodeling business is advertisement. Use the main sources to advertisement like newspapers and websites. Post the ads in all the major newspapers for quick results. Some people use phone book also for home renovation work. Make a new connection and give it into the phone-book. Business card is another good option. Take and give to other friends and family members. Keep in touch with neighbors. Meet the major home contractors of the area and their clients and let them know about the profession.

Find the ways to separate the business from others. Purchase new and latest tools from the market to help you out with the new home remodeling company. It would be expensive but a good idea to compete with the other contractors. Keep the tools in the safe place for quick availability. Don’t forget to give the business card of the company to the client.