Why Do Small Companies Spearhead Innovation?
Increasingly, experts can agree that small companies spearhead innovation. Of course, this isn’t to state that large companies don’t innovate at all. But the simple fact is that usually the size and internal bureaucracy of large companies is such that innovation comes at a much, much slower pace. Since small companies are at the heart of innovation, they often draw the attention of larger companies who need the new products and... Continue Reading →
Around the Web When Selling or Buying A Business
A recent article posted on Business2Community.com entitled “How to Close the Deal and When to Walk Away When Buying or Selling a Business” explains the business sale process and how to differentiate between a good deal and a bad deal during the process. Closing a deal involves quite a bit of legwork, including producing a letter of intent, doing due diligence, acquiring financing, signing a purchase agreement, and actually closing the deal.... Continue Reading →
Forget What You’ve Heard, Entrepreneurship is Doing Just Fine
You may have heard that entrepreneurship is in trouble, but the facts don’t support this assertion. A recent Boston Globe article noted that increasingly large numbers of people are successfully running their own businesses. Approximately 500,000 new businesses are launched each and every year.
When those numbers are viewed in a different light, it becomes clear that entrepreneurship is doing very well. Half a million... Continue Reading →
The Rise of Women Business Owners
The National Foundation for Women Business Owners (NFWBO) identifies trends relating to the small business climate for women. New studies examining the role of female entrepreneurs by the NFWBO have yielded some surprising and eye-opening results.
A joint IBM, NFWBO study of the top fifty women business owners as well as 10 additional “up-and-coming” business owners reached several interesting conclusions. The women in the study... Continue Reading →
The Tremendous Importance of Simply Saying, “Hello!”
Far too many customers have grown to expect poor customer service. Whether its rude employees and customer support or impersonal robotic phone system responses, customers are often shocked when they receive pleasant customer service. In such a climate, it is clear that businesses that simply treat customers well are taking advantage of a huge opportunity.
If you’ve ever personally called a credit card or cable company looking... Continue Reading →
Business Owners - 3 Signs You May Be Experiencing Burnout
Burnout is a strange phenomenon in that often a business owner doesn’t know that he or she is experiencing it until it is too late. Owners who feel beleaguered and over stressed frequently want to sell their business and move on. However, buyers are not so eager to accept burnout as a believable reason for why an owner wants to sell.
It is the responsibility of every business owner to be on guard against potential burnout. ... Continue Reading →
Around the Web: A Month in Summary
A recent article from Divestopedia entitled “How the Best M&A Advisors Deliver” explains the importance and value of an experienced M&A advisor in the business sale process. Maximizing value and improving how a potential buyer views a business are some of the most important factors in a sale, and also things that a good M&A advisor can help the management team work through.
The author goes on to stress the importance of having an... Continue Reading →
The Top 3 Unexpected Events CEO’s May Encounter During the Selling Process
When it comes time to sell a business, not everything goes as planned. You may be one of the lucky ones and find that selling your business is a streamlined process with only a few unexpected occurrences. But most CEO’s looking to sell a business find they can expect the unexpected. Let’s take a closer look at some of the top surprises CEO’s experience during the sale process.
Unexpected Occurrence #1 – Surprisingly Low Bids... Continue Reading →
Do You Really Understand Your Customers?
The time you invest getting to know and understand your customers is time very well spent. The feedback you get is gold, pure gold. Yet, there are other reasons why this is a prudent move. Let’s take a look at some of the key reasons you should learn more about your customers and their specific needs.
Today’s world has become increasingly impersonal. Most of us spend a shocking amount of time looking at one type of... Continue Reading →
Around the Web: A Month in Summary
A recently published article from Business.com entitled “Why Every Business Owner Needs an Exit Strategy” outlines the importance of having an exit strategy for business owners, no matter what point they are at in running their business. The author uses an analogy involving building construction: if multiple exit options are required for each floor of a multi-story commercial building in preparation for disaster, why not plan for... Continue Reading →