The sale of social-media pioneer Digg at a fraction of its previous value holds some important lessons for small businesses. Lessons from Digg Technology and business headlines were recently dominated by the somewhat shocking story that social media pioneer Digg had been sold for the paltry sum of $500,000. That headline wasn't entirely accurate, since it only represented the sale of some assets. The total price was closer to $16 million, which is still only a fraction of the $100 to $200 … [Read more...]
Simple Math That Will Close Deals
Show your leads what their return on investment will be and you're likely to win more clients. Math That Will Close Deals. During any sales process, there is always a point in time when you need to discuss price. Hopefully you have previously discussed the general price range to make sure that you and your potential customer are at least within the same general range. But at some point you need to prepare the actual price quote. It’s at this critical point that many small-business owners fail … [Read more...]
How a Small-Business Owner Should Interview a Financial Adviser
Many small-business owners are hesitant to engage a personal financial advisor. But here's why--and how--you should Interview a Financial Adviser. Many small-business owners have achieved success by taking a “hands-on” approach to running their companies. Having full control over your business’ operations gives peace of mind because after all, no one is going to care about your business like you do. But that attitude can actually lead to serious problems when it comes to managing your personal … [Read more...]
Supreme Court’s Obamacare Ruling Has Small Businesses Divided
Experts on both sides of the issue weigh in on what the Affordable Care Act decision means for small-business owners. Mike Periu was quoted on "Supreme Court's Obamacare Ruling Has Small Businesses Divided" The U.S. Supreme Court's 5-to-4 decision put President Obama's health care reform to the test and found that legally its underpinning is strong. The ruling on the Patient Protection and Affordable Care Act, which came on June 28, was met with cheers by some, and objections from others. … [Read more...]
Why Business Loans Are Getting Cheaper
The Federal Reserve releases its first quarter 2012 bank survey which helps gauge today's lending environment. Every quarter, the Federal Reserve conducts an extensive survey of lending officers at domestic banks and at the domestic branches of foreign banks operating in the U.S. The results of this survey provide key insight into what decision makers in the lending process are thinking and doing. The survey from the first quarter of 2012 has been released and the news is mixed. Lenders are … [Read more...]
Las más ridículas ideas de negocio… ¡que ganaron millones!
A veces, los emprendedores se desaniman porque no encuentran la forma de ganar dinero. Muchos piensan que tienen que ser un experto en un campo, un científico o un ejecutivo con experiencia para tener una empresa éxitos. ¡Esto no tiene fundamento! Cualquiera puede ganar dinero con un producto — aunque te parezca ridículo — si existe un mercado para él. ¿Quieres pruebas? Aquí están las más ridículas ideas de negocio. Snuggie Muchas personas se burlan de este producto. Imagínate que alguien … [Read more...]
Small-Business Moneyball
If your payroll only goes so far, you'll get more bang for your small business' buck by taking a page from the Oakland Athletics' playbook. Who could resist a movie with Brad Pitt? In Moneyball, which is based on the 2003 book of the same name by Michael Lewis, Pitt plays Billy Beane, general manager of the Oakland Athletics. Pitt or no Pitt, I normally stay away from sports movies. But Moneyball is no ordinary sports movie. It’s a lesson in hiring to which all small- and large-business … [Read more...]
Can My Company Be the Next Instagram?
In the wake of the Facebook IPO, many institutional investors considering putting money into Facebook have expressed concerns about Zuckerberg’s management potential and strategic thinking. Among the concerns is the logic behind the $1 billion purchase of photo-sharing app Instagram. See as Instagram was not a household name before the sale, many small businesspeople are logically asking not only how Instagram did it, but also whether their companies can do it, too. Behind the Instagram … [Read more...]
Unexpected Paths to Growth
These strategies might sound counterintuitive, but they're proven to work for both large and small businesses, unexpected paths to growth. Whenever I think about crazy business ideas that succeed, I remind myself of the brave individuals who raise their hands when the boss asks for “new ideas.” One of these nameless heroes is the executive who thought it would be a good idea to put cafés into bookstores. Imagine telling a Vice President of Operations or a Sales Director at a large bookstore … [Read more...]
Sale Price: How a Buyer Will Price Your Company
Knowing the basics and getting help will result in a sale price you can live with. When it comes time to sell your business, there are only three potential scenarios for agreeing on a final price: The buyer is better informed than the seller and buys the company cheaply The seller is better informed than the buyer and is able to extract a juicy premium above the true market value Both sides are equally matched and a fair price for both parties is negotiated In my experience, it’s … [Read more...]
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