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Member You - Entrepreneurs Control the Opportunity
No doubt you’ve heard the old notion of goal-setting: “If you don't know where you're going you'll probably end up somewhere else.” Anna Miller-Tiedeman, PhD. ruefully addresses this adage with “however, even if you do know where you're going, most likely, you'll still end up somewhere else.” Haven’t we all experienced the truth of this?Many people constantly pressure themselves to set goals or having had too many “failed” past attempts ignore goals altogether. There is a path between these two extremes that is less stressful and beneficial to our well-being. This is the path of aspiring to be our best in each moment; of h
If you succeed in getting the seller to discuss the specifics of a transaction then you might c
Career coaches don't have a magic formula for helping their clients (if we did, we'd be bottling it and making millions!), but why has career coaching received so much press lately? Pick up any magazine and you're likely to see a reference to coaching: Oprah, Redbook, Self, Fast Company, Health, Inc., and many other business magazines. What career coaches do offer their clients is an easier way to career success than if they were to try and do it on their own.Unlike traditional career counseling or even therapy, career coaching is action-oriented and future-focused. A coach is trained to ask the right question at the ri
At this stage many people find it impossible to think of anything except how they are going to get the money, or what price can they get the business for or if the employee they see as most important will stay. In other words they are proceeding as though they are definitely going to buy the business. This can create problems. The more you begin to think like you have bought the business the more you are likely to lose your objectivity.
When this happens you are no longer able to perform an effective due diligence, the in-depth look at all the details and elements of the business. If you are looking through the eyes of an owner everything you see will either convince you that it is a great business (reinforces your decision to buy), or reveals problems that gives you instant buyer's remorse -- you begin to wish you never saw the opportunity. The due diligence effort should be used to find out as much as possible about what is going on in the business.
Everything that you find out in this period should be considered in total, after you have finished. When you have completed this effort you should be able to draw specific conclusions; reject it and move on, pursue it aggressively, pursue it under certain conditions. The later is where you use the negative things you have discovered. This is where you talk with the seller and demonstrate that you know what's going on and that he or she has to adjust the price or the terms or the timing in order to make a transaction happen. Don't mention specifics; just try to get the person to be a willing participant in a preliminary negotiation.
If you succeed in getting the seller to discuss the specifics of a transaction then you might c
One of the prime motivating factors in the purchase decision making process is “trust”. A consumer will at some point for however long or short of a time, ask the question, “Can I trust this company/person/product?”In today’s ever-changing world of marketing, electronic media, email, and advertising innovations and intrusions, companies, and businesses are marketing to an ever increasingly suspicious consumer, who is conflicted between their desire not to be “sold” to and their desire to consume. They are looking for ways to establish believability, credibility, and trust.According to a paper by the Peppers and Ro
When this happens you are no longer able to perform an effective due diligence, the in-depth look at all the details and elements of the business. If you are looking through the eyes of an owner everything you see will either convince you that it is a great business (reinforces your decision to buy), or reveals problems that gives you instant buyer's remorse -- you begin to wish you never saw the opportunity. The due diligence effort should be used to find out as much as possible about what is going on in the business.
Everything that you find out in this period should be considered in total, after you have finished. When you have completed this effort you should be able to draw specific conclusions; reject it and move on, pursue it aggressively, pursue it under certain conditions. The later is where you use the negative things you have discovered. This is where you talk with the seller and demonstrate that you know what's going on and that he or she has to adjust the price or the terms or the timing in order to make a transaction happen. Don't mention specifics; just try to get the person to be a willing participant in a preliminary negotiation.
If you succeed in getting the seller to discuss the specifics of a transaction then you might c
It appears that most gurus if you want to call them that represent themselves as experts. In several statements that I’ve read, they refer to other marketers as making mistakes. Yet, when they make the same mistakes, they call it testing.I read a quote one time about a child learning to walk. When the child is serious about learning to walk, falling is simply a form of learning. However, it’s not looked upon as a failure or mistake.Another word that I’ve heard plenty of times this year is the word “secret”. Actually, that word has been overused and over abused. As anyone knows, if it’s a secret on the internet
Everything that you find out in this period should be considered in total, after you have finished. When you have completed this effort you should be able to draw specific conclusions; reject it and move on, pursue it aggressively, pursue it under certain conditions. The later is where you use the negative things you have discovered. This is where you talk with the seller and demonstrate that you know what's going on and that he or she has to adjust the price or the terms or the timing in order to make a transaction happen. Don't mention specifics; just try to get the person to be a willing participant in a preliminary negotiation.
If you succeed in getting the seller to discuss the specifics of a transaction then you might c
In its broadest acceptance, the term ‘clothing’ refers to coverings for the entire body. When speaking about clothing, we can also refer to coverings for the hands , feet or head. Almost all the people on this planet wear clothing. Other terms such as ‘dress’, ‘apparel’ or ‘garments’ may be used when referring to clothing.The reasons why people wear clothing are both functional and social. The human body needs protection against some weather or environment features, and clothing provides safety for people. There is also a social and cultural meaning associated to clothing.There are many other ways in which a person
Everything that you find out in this period should be considered in total, after you have finished. When you have completed this effort you should be able to draw specific conclusions; reject it and move on, pursue it aggressively, pursue it under certain conditions. The later is where you use the negative things you have discovered. This is where you talk with the seller and demonstrate that you know what's going on and that he or she has to adjust the price or the terms or the timing in order to make a transaction happen. Don't mention specifics; just try to get the person to be a willing participant in a preliminary negotiation.
If you succeed in getting the seller to discuss the specifics of a transaction then you might c
How do we train our people to become entrepreneurs? How do we instill entrepreneurship into our future generation? My answer is... seriously... Train the Teachers first!See, the teachers are the moulders of our future generation. Every day, students attend schools and consciously as well as subconsciously gain knowledge. And every day, school teachers are sharing their experience, their knowledge, their habits directly or indirectly to students. Cheers to Teachers!However, this means that teachers need to be equipped with the best mindset, best knowledge and best experience so that they can in turn impart them to th
If you succeed in getting the seller to discuss the specifics of a transaction then you might consider using a document I call the Deal Points. Everything in this document would be in an Offer, or in a Letter of Intent to Purchase but because it is written in simple language, using brief statements, without the penalties for non-performance and all the legalese, the seller will normally sign it without taking it to a lawyer. That's what you want -- the seller's signature on a document. When that happens, the seller has adopted the attitude of having "sold" the business. He or she will be looking ahead to how they will spend the money and how they will enjoy all the time they will have.
When the seller has this attitude in their heads -- they are much more willing to make changes -- and that's where you want them.
Now when you come back after having completed your due diligence, you are ready to proceed to have an Offer prepared, if you can pre-negotiate some changes. This is when you explain why you need certain changes. "The inventory is all pretty old, I saw some items that go back two years. All of the equipment looks like the routine maintenance hasn't been done in over a year, We need to talk about the price."
All the while you are working through this process you should be coming to some conclusions about how much money you will need and by when. You should be well along with ideas about where you will get the money you need and how long it will take. When you feel comfortable about these issues, the money and the time, then you can have the Offer prepared.
Depending on your background and skills you should consider presenting the offer to the seller yourself. Most peo
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