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Planning to Buy a Business? Top 5 Reasons to Hire a Business Broker

A business broker acts like the middleman between the buyer and the seller. A broker can be a person or a firm which supports the buyer or the seller (whoever hired them) during the whole transaction process.

One of the most frequent questions asked by prospective buyers or sellers of a business is whether they should hire a broker or not? The answer is “Yes… but the right one!” If you are looking for a business in Canada find a business broker who has had some good experience in this region and can assist you from beginning to end i.e. right from finding the right business till the time you start owning it.

Let’s have a closer look at Top 5 reasons why you should hire a broker if you are looking for a business for sale:

1. For sale listings: Brokers provide you the necessary business-for-sale listings without which you will be like a blind person in a garden full of flowers. Brokerage firms usually maintain a database of businesses for sale. You can go through the huge pool of sellers and choose the business which suits you the best.

2. Know-how of local market: Before you start off with the whole process you must know the correct worth of different available businesses for sale. This is crucial and should not be neglected. A business broker has an expertise in this field and will be able to assist you in evaluating the accurate value of a business which you might be planning to buy. Regional knowledge is also essential and different strategies are adopted for different areas.

3. Making the correct choice: Business brokers not only act as middlemen but can also give you sound advice on which business to buy and which not. They will help you assess your present economic situation, your lifestyle and attitude and can let you know which type of business you should exactly look for.

4. Steering through the competition: You might have to face a lot of competition when you find the best business at best price because there will be a lot of prospective buyers like you who would be willing to bid for that business. Brokers profile you in such a way that you can win over the competition and get what you want. Without a business broker you wouldn’t even realize when someone moves the business of your choice from under your knows if you even delay your decisions for a little time.

5. Negotiations: The whole process of buying and selling of businesses is quite complex and the broker will help you understand such complexities so that you can strategize accordingly. A business broker will guide you on how to negotiate issues related with price and will make sure that you find the best possible deal.

10 Queries You Should Answer Before Starting an Online Business

In case you believe that the Internet is still in its early childhood, then you have to become conscious that this early childhood is nearly over. The Internet reaches its adulthood faster. The people that want to profit on the Internet must deal with it as if it a developed entity. You have to be serious-minded about using Internet as your business medium.

In case you continue to believe you can well get rich out of the Internet, then you possibly are missing the big picture, unless you are aware of the questions you should answer before starting to build your own Internet enterprise.

You should realize that starting an Internet business is dissimilar from making money from the Internet. Sometimes you can make more money from the Internet without starting any business.

While starting an Internet business may “involve” big investment, making money from the Internet may require nothing or less. And here’s the intriguing part. Making money from the Internet necessitates you sticking to the the web all the time. Only placed, the money stops coming in if you stop your Internet undertakings. Then again, if you do it right, the Internet business you’re creating will make money for you even when you sleep or are in vacation.

Thus, in order to do it correctly, you should ask yourself these questions before starting any on-line business:

1. Do you have a concept?
What is your business concept? You should have the clear mental image of what your business will be in the next 5, 10, or 20 years.

2. Do you know your business potency?
What is your business potency? This will affect the whole vision and plans of action of your business. If you believe that your business doesn’t have that power, then you must make an drill to discover that power!

3. Do you set your business targets?
What assignment you want to be complete to attain your business concept? These assignments will be your business targets. Make a list of distinct and mensurable goals with elaborate activities to achieve it.

4. Do you have a business plan?
What to do to manage your business to succeed? Utilize a Plan-Do-Check-Act series to determine your business plan.

5. Do you have the applications?
What applications are needed for your business? What will your business be involving? You need to determine which is the adequate technology to your business.

6. Do you have superior products to provide?
Which are the products you want to provide your customer with? You have to make a point that the product with which you want to provide your customer is the qualitative one.

7. Do you have a quality client?
What sort of clients will you have? A section of your business activity should be about discovering quality clients. Quality clients are those willing to watch, assess and purchase your products over, and over, and over again.

8. Do you have a superior content to offer?
Your clients need info. If you cannot render it, you won’t succeed in the business game.

9. Do you have a business trainer?
Who will teach you and keep an eye on your business development from the outside? Sometimes you necessitate more than only tips and consultation to develop your business. You may make up your mind to acquire a business trainer to assist you develop your business.

10. Do you have the fortitude, the desire, the diligence, and the strength toward the business?
You have to have the last things: fortitude, desire, diligence, and strength to create your business.

If you cannot respond to even only one of the 10 queries above, then you may call off or ponder again about starting an on-line business.

Tips to Raise Capital For Your Small Business

You have a great idea and you are ready to start your business. You have done all the research and have learned the intricacies of business management. To put this into practice, you need to have money to invest. Raising capital for your small business can be a tiresome exercise unless you know how to approach prospective investors. As the first step to raise capital for your small business, find out the capital required to get the business up and running. Your business plan should highlight this.

Whether you intend to raise money from a financial institution or your family and friends, you should approach them professionally. Equipped with a detailed business plan, you need to impress them with your capabilities and the prospects of your business. No one would like to lend you money out of friendship.

In case of family or friends, you can ask them to be a financer or an investor, depending on the amount of money you need. If the money is given as a loan, you will have to pay back the capital and maybe, interest too. An investor needs to be paid a previously decided share of profits. You can even offer them partnership in your small business. It’s always wise to approach investors with a detailed proposal.

Your creditworthiness plays an important role in getting funds for your small business from banks. Even if you have a great and convincing business plan, banks will not risk money on you if you have a bad credit history. Your creditworthiness makes you eligible for personal loans. This, together with a comprehensive business plan, will make you a likely candidate for business loans.

Banks consider business loans, especially those for small businesses, risky. Most banks will be reluctant to give unsecured loans. The riskier your business, the harder it is to get loans. So when you approach banks for business loans, be prepared with a plan to pay back the money.

Another option is to seek out an angel investor or a venture capitalist to invest in your small business. These are people who have the money and willingness to invest in a business – to help the business owner to set up and run the business and to make some money while doing so. You can join forums that allow investment seekers to present their case to a host of potential investors.

Angel investors often hold meetings to explore and identify potential investment opportunities. It is not an easy task to convince these shrewd investors. You may have to present your business plan and revenue model to an expert panel. You may have to be prepared to face a barrage of questions.

This is because though angel investors and venture capitalists are ready to take risks, they will take only informed risks. If you can impress them with your presentation and give adequate as well as learned responses to their queries, your chances of raising capital for your small business are more. However, once they decide to invest money, they may not allow you to run the business all by yourself. These investors are likely to demand some ownership and control of your business. Additionally, if you can show them an exit route after a certain period of time, they will be more than happy to invest in your small business.

Another easy but tough option for small business owners to raise working capital is capital reinvestment. Invest the profit you earned from your business back into it, instead of indulging yourselves with the substantial paychecks.

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