Tag: Business

Business Broker – Small Business Encyclopedia #small #business #grants #for #women

#business broker

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Business Broker

Definition:A professional who assists in the buying and selling of businesses .

The principal value of a business broker is to act as a buffer between the buyer and the seller. A broker can say certain things to a buyer and certain things to a seller and wind up with a productive discussion. The broker can tell the owner the price is too high, relay what has to be done to make a deal–very openly and candidly–and discuss how the differences in viewpoint can be ironed out effectively.

If you’re in the market to buy an existing business, a broker can help you find businesses for sale that fit your parameters, including location, industry and size. The broker will typically charge you a commission of 5 to 10 percent of the purchase price, but the assistance brokers can offer, especially for first-time buyers, is often worth the cost. However, if you’re trying to save money, you might want to consider hiring a broker only when you’re near the final negotiating phase. Brokers can offer assistance in several ways:

  • Prescreening businesses for you. Good brokers turn down many of the businesses they’re asked to sell, either because the seller won’t provide full financial disclosure or because the business is overpriced. Going through a broker helps you avoid these bad risks.
  • Helping you pinpoint your interests. A good broker starts by finding out about your skills and interests, then helps you select the right business for you. With the help of a broker, you may discover that an industry you had never considered is the ideal one for you.
  • Negotiating. During the negotiating process is when brokers really earn their keep. They help both parties stay focused on the ultimate goal and smooth over problems.
  • Assisting with paperwork. Brokers know the latest laws and regulations affecting everything from licenses and permits to financing and escrow. They also know the most efficient ways to cut through red tape, which can slash months off the purchase process. Working with a broker reduces the risk that you’ll neglect some crucial form, fee or step in the process.

When it comes to selling your business, finding the right buyer can be time-consuming and daunting if you try to do it yourself. A seasoned business broker can read the market, knows who’s buying what and who’s got resources, and can weed out the so-called “tire kickers” from serious buyers with sufficient financial resources who are well-suited to run a business like yours. They will also ensure that news of the sale remains confidential, that loyal customers, staff, vendors and suppliers find out only when you’re ready to let them know.

Then there are administrative issues. An experienced business broker knows what paperwork to file, and when. They also coordinate efforts between lawyers, CPAs, bankers, insurance agents and others.

While it costs money to contract with a broker to sell your business, think of the commission you’d pay him or her as a kind of insurance. Your broker will protect your investment in the business by placing the proper value on your business, finding the right buyer, getting you the best price possible, protecting the confidentiality of the sale, handling all negotiations, ensuring that all transactions are legal, and seeing that the transition to new ownership is as wrinkle-free as possible.

Brokers’ fees generally range anywhere from 5 to 10 percent of the selling price of the business, depending on negotiations with the broker, state laws and other factors. This is usually money well spend, because the broker can usually get more money for the business, make negotiations run smoothly, handle a lot of clerical and other details, and make a sale possible, whereas an individual business seller might not be able to accomplish all these things.

One of the key functions of a business broker is to act as a cushion between the buyer and the

seller and negotiate the details of the deal at a time when emotions can, and do, run high. A small business is often one of the biggest assets a business owner has, one which he or she has spent considerable time and money building. An experienced broker knows how to price a business and can toot the business’s horn in a way you might not be able to. The buyer can ask the broker pointed questions that might be difficult to ask you directly and get the answers he or she needs. The broker can also help answer any questions or resolve any problems that develop during the course of the sale.

When it comes to choosing a business broker, make sure there’s good chemistry between you and your broker and that the two of you communicate well. You’re paying your broker to look out for your interests, negotiate successfully on your behalf, and complete the transaction in a timely and professional manner.

To find a business broker to help you sell your business, take these steps:

  • Check newspaper ads under “Business Opportunities.” Look in your local and regional papers, as well as in The Wall Street Journal. You’ll frequently see businesses for sale under this heading, and just as prospective buyers are invited to inquire about these businesses, prospective sellers should also check out who’s facilitating these sales.
  • Look in the Yellow Pages under “Real Estate” or “Business Brokers.” Be sure to find a broker who specializes in selling businesses, not simply real estate. Don’t let the broker list your business on a realtor’s multiple listing service. Any broker who wants to do this isn’t willing to devote the time and work necessary to sell your business.
  • Ask for referrals. Ask other business owners who’ve sold businesses who they worked with. Your local chamber of commerce can also provide referrals to business brokers, as can your banker, CPA, attorney, and financial planner.

Once you find a broker to work with, sign a contract that specifies what kind of advertising your broker will do and that the name of the business will not appear in any ads or other promotion.





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IBM Social Business – Why social business #cash #flow #business

#social business

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Social Business

Win in your marketplace.
Become a social business.

Businesses move from liking to leading when they look beyond social media to see how social technologies drive real business value. From marketing and sales to product and service innovation, social is changing the way people connect and the way organizations succeed.

Why social business works

When you inspire your workforce to innovate and collaborate more productively, you create tangible business value. When you anticipate needs and deliver exceptional experiences, you delight your customers and create advocates. When you integrate your business processes with the right social tools, you secure a competitive advantage and pioneer new ways of doing business.

Test drive products to find your social solution

Webinars

  • Socially-enabled Office Productivity
    Learn how socially enabled solutions can change the way people work, improve productivity and create a smarter workforce.
  • Reinventing Business with Next Generation Social Collaboration in the Cloud
    Cost-effectiveness. Implementation ease. Increased productivity. Positive ROI. Just some of the reasons you should become a social business right away! Watch this Webcast to discover how to become a social business and the benefits of doing so in the cloud.
  • IBM Unified Communication Solutions
    Real-time collaboration solutions that enhance decision-making, speed up processes, improve operational effectiveness and reduce expenses.
  • IBM SmartCloud
    Scalable, security-rich e-mail, web conferencing and collaboration solutions that bring you new ways to work. Cuts costs. Boosts productivity!
  • IBM Web Content Manager
    Smart, consistent, personalised multi-channel web experiences by efficient content experts. Drives your conversion rates, improves customer loyalty and user engagement

Resources

  • Video: Smarter Workforce Drives Sales at Verve
    Verve Power System’s workforce used their collective wisdom better, improved relationships with customers, shortened sales process closed more sales.
  • IBM Collaboration Assessment Tool
    This smart IBM tool provides quantitative results based on Aberdeen Group’s research on over 450 organisations. Come, assess your collaboration practices; learn from best-in-class organisations; and get strategy recommendations. Benefit from the IBM Collaboration Assessment Tool, absolutely free!

Get social with us

Follow us and be the first to know about social business products, news and events. Our community of thought leaders share the best ways to add social value to your business.





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Business Development Jobs, Senior Executive, Sales Vacancies #business #today

#business development jobs

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Business Development Jobs

Sign up for job alerts Get new jobs for this search by email

With growth back on the agenda for many UK businesses now is the perfect time to take your sales career to the next level with Telegraph jobs. We have available jobs in a wide range of sectors from FMCG, engineering, manufacturing, IT and many more. The salaries in sales positions can range from £25k to £90k+, dependent on the level of experience.

With Sales Directors, Area Management, Account Manager, Head of Sales, Field Sales Executive and Sales Assistant roles available throughout our listings there is a job to suit every jobseeker. Some roles may require a solid track record in sales delivery, strategy or reporting whilst at entry level a desire to sell might be all you need. To kick-start your careers in sales and business development check out our Telegraph job vacancies below.

Oslo, Østlandet (NO) Competitve Kezzler

Kezzler is a pioneering company in the formation and development of serialization and secure Track Trace solutions.

Based from home, ideally in central England and within 1.5 hours’ drive from the company’s headquarters in Bristol Attractive base salary plus excellent bonus and benefits Limbs Things

UK Sales Manager – Medical Sales Attractive base salary plus excellent bonus and benefits

Walton-on-Thames, Surrey Up to £24,000 Basic (£40,000 OTE) Recruitment Revolution.Com

We are looking for a sales and account executive to sell direct to clients in our target markets.

Guildford £30000.00 – £45000.00 per annum + 10% OTE + Company Car BMS Performance

*Minimum 3 years face to face selling *Foodservice experience *Business to business sales *Driving license

Farnham £30000 per annum + + uncapped OTE BMS Performance

Our client specialises in financial protection and insurance who are part of a large group with a consistent healthy turnover and backing of large.

Reading £25000.00 per annum + 7.5K OTE + 4.5K Car Allowance BMS Performance

*50% Account Management *Market Leading Brand *Selling to Education Sports Clubs





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Home Party Business Opportunity #market #news #today

#home party businesses

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Home Party Business Opportunity

Opportunities in the home party business are plentiful and the industry continues to expand. In these tough economic times, people seek opportunities to make additional income, or to replace lost income. The home party plan business works in good times and bad, but is it right for you?

Prior to starting your business, you should take a few moments to look inward. Determine if this business model is right for you and if you have the right stuff for this business. You can make a good living, work your own hours, and have time for your children and family when you work in the direct sales industry.

Are You a Good Fit For the Business?

To be a good fit for the home party business. you must ask yourself if you enjoy speaking in front of a group. You should also consider how you feel about giving product presentations and selling a product line. If you are reluctant to speak in front of a small group or to sell products, or you get the shakes just thinking about it, you might want to look for another line of work.

Marketing is an essential part of a home party business. You will have to promote and market your business. You will have to place ads, call people on the phone, hand out business cards, attend business group meetings and community functions, and constantly look for new ways to promote. Marketing never ends; marketing is an everyday component of the business and is the key to a successful career in home party plan selling. If the thought of selling gives you a migraine, this line of work is definitely not for you!

Before you start your business, you should decide if you want to work part-time or full-time. This business is the perfect choice no matter which you choose. You may opt to start part-time and then switch to full-time when you discover how much you enjoy it!

The last thing you need to do is select a product line. You should find products that you truly enjoy using. Your enjoyment will serve as an excellent selling point and motivate others to buy. There are so many different products to choose from: jewelry, kitchen aids, make-up, housewares, arts and crafts, lingerie, and adult products. Finding a product line you believe in will make selling so much easier!

Home Party Business Is Simple

The home party plan business is simple, but not easy. It is simple because you work with a company that supplies the products and basic marketing materials. It is not easy because owing a business is never easy. Building and running a successful business takes plenty of time and effort. However, if you want a business that offers the chance to make money, meet people, earn respect, and have fun while you work the home party business is the way to go!

When you take the time to invest in your education by participating in home party plan training then you will surely reach your goals working from home.

Deb Bixler retired from the corporate world in 2000 to enjoy life as an entrepreneur. In the first 9 months as a home party direct seller she built a home business and sales team which provided her with an income capable of replacing her corporate business salary of $80,000 per year. Deb manages the largest FREE home party plan resource center on the web. She is the creator of the CashFlowShow Game which provides affordable duplicate-able training to improve team retention and is the host of the weekly CashFlowShow – Direct Sales Radio show. Deb was recognized in the 2009 2010 Direct Sales Power 50 as one of the most influential people in direct sales worldwide and received the 2011 Direct Selling Women’s Alliance Speaker Of The Year award.

Why does Deb s bio state that she manages the largest FREE home party plan resource center on the web , yet the site that this statement links to appears to charge for every piece of advice it offers? Maybe the free stuff is slyly hidden somewhere on the site, or maybe the statement is just intentionally deceiving either way it s disappointing and obviously misleading. On the other hand, it proves she s mastered the savvy sales tactics, doesn t it? The only fail here is allowing the customer to spot that trick or tactic. Here s some real, free advice for sellers: be honest and treat your customers well. Otherwise, beware of backfire!

The website Cash Flow Show has over 500 pages of free training including the blog and the daily radio show.

Sorry that you find that deceiving. Actually we received an award as one of the top 3 blogs worldwide for direct sellers.

It was not meant to be a trick or tactic. Sorry you were disappointed!





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Business Development jobs in the UK #sell #business

#business development jobs

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Business Development jobs

Hays Sales consultants have in-depth knowledge of the business development jobs market, and will help you find your desired job. Whether it be a Business Development Manager. Business Development Executive or a more specialist development opportunity.

Our strong relationship with sought after employers across many industries include, FMCG, Manufacturing, IT, Media and Professional Services lead to Hays Sales being a fist choice for clients looking for business developers like yourself to join their teams.

Contact your nearest Hays Sales office to discuss the latest Business Development roles and how we can help you take the next step in your Business Development career.

We re currently recruiting for organisations across the UK including in London, Guildford, Leeds, Bristol, Birmingham, Manchester and many more so you can be sure you’ll find a job near you.

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Distance learning

Build on your skills with our flexible online training courses.

Issue 10 of the Hays Journal has launched, offering insight into topical issues and trends in the world of work .

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Forms and Types of Business Entities – Choosing a Business Entity #quality #business #cards

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Business Entity Types

To get the most out of your small business, choose the right structure. Selecting the right type of company or corporation for your new business helps maximize your chances of financial and operational success.

Common types of business structures and corporations include C corporations, limited liability companies (LLC), partnerships, S corporations, and sole proprietorships. Learn more about each type of business or corporation:

Limited Liability Companies (LLCs)

  • Independent legal structures separate from their owners.
  • Help separate your personal assets from your business debts.
  • Taxed similarly to a sole proprietorship (if one owner) or a partnership (if multiple owners).
  • No limit to the number of owners.
  • Not required to hold annual meetings or record minutes.
  • Governed by operating agreements.

C Corporations

  • Independent legal and tax structures separate from their owners.
  • Help separate your personal assets from your business debts.
  • No limit to the number of shareholders.
  • Taxed on corporate profits and shareholder dividends.
  • Must hold annual meetings and record meeting minutes.

S Corporations

  • Independent legal and tax structures separate from their owners.
  • Help separate your personal assets from your business debts.
  • Owners report their share of profit and loss in the company on their personal tax returns.
  • Limits on number of shareholders, who must be U.S. citizens or residents.
  • Must hold annual meetings and record meeting minutes.

Partnerships

  • Partners remain personally liable for lawsuits filed against the business.
  • Usually no state filing required to form a partnership.
  • Easy to form and operate.
  • Owners report their share of profit and loss in the company on their personal tax returns.

Sole Proprietorships

  • Owner remains personally liable for lawsuits filed against the business.
  • No state filing required to form a sole proprietorship.
  • Easy to form and operate.
  • Owner reports business profit and loss on their personal tax return.

Review our Business Comparison Chart for more details. Regardless of business structure you choose, incorporate.com can help you incorporate or form an LLC online or by phone for less than the cost of using an attorney.

Ready to Form a Business? Get Started





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Virtonomics – Best free business simulation #canadian #business #magazine

#business simulation games

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Business is Like A Game

Play online

Virtonomics (since 2006) is a business strategy game based on real world economy, business, entrepreneurship and management principles. The purpose of the game is to create a profitable and competitive business. Each player receives a starting capital, which can be used to develop the virtual company according to their own unique scenario. Users customize their business goals, strategies and tactics.

Virtonomics is highly versatile – Players choose their own business goals, strategies and tactics. As in real life, individuals are able to venture into Retail, High Tech, Manufacturing, Agriculture, Medicine, etc. Every business can be highly profitable – all it takes is knowledge and determination to pursue one’s goals.

Gamification for business and education

The use of gamification to engage users in solving various problems has been utilized by businesses and various educational institutions globally. Various business simulations have been created to assist and assess employees and students. Major businesses and universities have already deployed or will soon be deploying gamified applications.

Virtonomics offers a unique edge – our virtual economy is managed by its users! All the actions and interactions in the game are made with and by real people. During the gameplay, players gain specific knowledge in: leadership, interpersonal communication, team work, global business development and operations.

Business simulation

A large and proactive user base of Virtnomics creates a highly realistic resemblance to the real world’s economy: free-markets, trade, production and partnership.

One of the most life-like experiences players find during the gameplay is that the game has no linear simulation scenario. There is no preset algorithm for winning or losing. Players have endless possibilities to reach their unique business goals.





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You Can Apply for These Small Business Loans with Bad Credit #business #websites

#business loans for bad credit

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You Can Apply for These Small Business Loans with Bad Credit

Small business owners are often turned away by lenders when they have poor credit. That’s because a bad credit score implies you have not managed your finances properly in the past.

Luckily, it’s possible to secure small business loans with poor credit.

A number of alternative lenders are offering loan solutions for bad credit today. These lenders place more importance on the operating history and strength of your business. In other words, they do not focus solely on your credit score when they consider your loan application.

Here are some loans for bad credit options worth exploring.

Small Business Loans with Bad Credit

Kabbage

The best thing about Kabbage is that it does not require a minimum credit score to qualify. It does, however, check your credit history. If you are looking for some short-term working capital, Kabbage is worth trying. You can borrow from its line of credit and repay on an as-needed basis.

To qualify, you should have minimum annual revenue of $50,000 and have been in business for at least a year. You must also have a business checking account, bookkeeping software or an online payment platform.

It takes only a few minutes to complete the online application process and if approved you can get funds in just a couple of days.

Fundbox

Fundbox does not have a minimum credit score or minimum annual revenue requirement. Instead, it takes the value of your invoices and ability to repay the loan into consideration.

Funding is prompt and takes up to just three business days.

To qualify, you must use bookkeeping software or online accounting that can link to Fundbox and have a minimum of six months’ activity in one of these software applications.

OnDeck

OnDeck offers both term loans and lines of credit. You can go for the term loan if you are looking for some quick cash to expand. If you want to manage your cash flow and working capital, a line of credit is your best option.

To qualify for OnDeck’s term loan, you must have a personal credit score of 500 or higher. For a line of credit, your personal credit score should be at least 600.

Once you complete the online application process, you’ll get a decision within a few minutes and funding as soon as the following day.

Interestingly, OnDeck reports your payment activity to the three credit bureaus, which means paying off your loan on time can boost your credit score.

BlueVine

If you lack collateral, have poor credit and unpaid invoices, you may consider BlueVine. The lender offers an advance based on the value of your invoices. Approval is based on the strength of your cash flow and the financial strength of your debtors.

You do need to have a personal credit score of 530 or more to qualify. Also you should have at least $120,000 in annual revenue and have been in business for at least three months.

StreetShares

If you have a new business, StreetShares is a good option to explore. The lender requires a minimum of one year in business and $25,000 in annual revenue. But even if you have been in business for only six months and you can qualify with $100,000 in revenue.

You need to have a minimum personal credit score of 600 or more and a strong cash flow to be eligible.

Dealstruck

Dealstruck is a good option if you are looking for different loan products. The lender offers a term loan for expansion, an asset-based line of credit for businesses with unpaid invoices and an inventory line of credit for businesses that have recurring inventory purchase requirements.

To qualify, you need to have a minimum credit score of 600, although company CEO Ethan Senturia has said that the company accepts scores in the 500 range. You also need at least $150,000 in annual revenue and need to have been in business for at least a year.

A bad credit score may create problems for you when you try securing funds for your business, but it shouldn t stop you from exploring options. You need to understand your needs and look for options that meet your requirements.

Shubhomita Bose is a Staff Writer for Small Business Trends. She covers key studies and surveys about the small business market, along with general small business news. She draws on 8 years of experience in copywriting, marketing and communications, having worked extensively on creating content for small and medium sized enterprises.

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What is business plan? Definition from #online #business #opportunity

#what is business

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business plan

A business plan is a document demonstrating the feasibility of a prospective new business and providing a roadmap for its first several years of operation.

Business plans are an important part of creating new businesses, whether as a startup or an offshoot of an existing business. Business plans for startups are often shared with funding agencies, potential investors and venture capitalists to obtain the necessary funding.

Although the specifics may vary, here are the typical components of a business plan for a new business:

  1. The executive summary is a nutshell version of the entire plan, briefly covering the essentials.
  2. The business description describes the proposed new endeavor, explains its purpose and its target market.
  3. The plan’s market analysis section describes the industry and the market environment of the proposed business, including a profile of the competition.
  4. The organizational and managerial section explains how you envision the structure of your business, what types of positions and departments it will encompass.
  5. The products (or services) section details what you’re offering. This section should include a full description of the products you’ll sell and your plan for product lifecycle management (PLM ).
  6. The marketing and sales section explains your strategies for branding. marketing and selling your product or service.
  7. The funding request will differ according to what type of information is required by the funding party.
  8. The financial projection covers the expected performance and milestones over the first years of operation, usually five years. For an existing business, historical financial data should be included.
  9. An appendix can include useful information that doesn’t belong in any of the other sections.

A business plan is similar to a business model. However, the latter is a representation of how an existing business works, rather than how a prospective business can work.

This was last updated in December 2013

Contributor(s): Ivy Wigmore

Related Terms

Definitions

– Risk management is a company’s process for identifying and controlling threats to its assets, including proprietary corporate data, customers’ PII and intellectual property. (SearchCompliance.com )

– Rebranding is an update of the materials and presentation used to represent a business. A company may rebrand to appear more modern or to distance itself from past issues, among other possibilities. (WhatIs.com )

– A/B testing is a statistical method used to assess proposed changes to a product or service. (SearchBusinessAnalytics.com )

Glossaries

– Terms related to business, including definitions about project management and words and phrases about human resources, finance and vertical industries.

– This WhatIs.com glossary contains terms related to Internet applications, including definitions about Software as a Service (SaaS) delivery models and words and phrases about web sites, e-commerce.

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Business Banking Insight – Independent Survey of Business Banking Products and Services #easy #business

#business banking

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Business Banking Insight

The Chancellor of the Exchequer launched the Business Banking Insight programme in November 2013 to help improve competition in business banking in the UK. Run by the British Chambers of Commerce and the Federation of Small Businesses, we’re independent of any business banking provider, and survey tens of thousands of small and medium-sized businesses every three months to ensure the information we share is up-to-date. Our site is completely free to use and you will not be sold anything as a result of visiting.

There s no hassle, it s easy to use

Compare business banking products and services using our impartial rating system

We’ve conducted an independent survey of the UK’s business banking accounts, credit cards, loans and other services, asking thousands of small and medium-sized business owners about their experiences – so you can see how they compare.

Who s created this site.





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