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Three Acquisition Tips

November 2, 2012
By Mike Handelsman, Group General Manager, BizBuySell.com and Bizquest.com

Buying a business can be a complicated process, even with previous experience. The business-for-sale marketplace is very dynamic – and each business is so unique – that both pros and novices alike must do extensive research and preparation before diving into a deal.

How do buyers avoid getting burned and make sure they enter into an acquisition that offers them financial and emotional peace of mind? They have the greatest chance for success by being proactive and well-versed during every step of the purchase process. With the following three tips as starting points, buyers can be sure to find out what they need to know to get well on their way to owning the business of their dreams.

1. Understand Parameters

One of the biggest mistakes people make when purchasing a business is not having a solid grasp on how it will affect their lives. It’s not uncommon for buyers to get so excited by the prospect of owning a new business that they rush into it without asking themselves some very important questions, such as: (more…)

Nurture Your Unlikely Ideas

November 1, 2012

A number of years ago a turtle showed up in our Brooklyn backyard. My husband thought it had belonged to a next-door neighbor’s son. They’d moved some years earlier, and he had been very upset that he couldn’t find his pet.

It was exceedingly strange to see this critter appear from time to time. I was frightened the first time, as it moved a small empty planter aside as it walked — I thought it might have been a rat. I named it Anatole, for no good reason other than it popped into my head.

The new neighbors (the third owners since the boy’s family left) looked up the turtle, but I forget what kind it was. One time we put it in our daughter’s kiddie pool, and it was happy as could be. (more…)

Tricks to Scare Up Halloween Business

October 31, 2012

Halloween is increasingly popular. Last year, seven out of ten Americans reported they planned to celebrate the holiday. And, retail spending reflects that enthusiasm. Sales of Halloween-related products increased by nine percent in 2011, to reach $6.86 billion in sales. Although the National Retail Federation hasn’t released its 2012 predictions, there is no reason to expect a decline in spending.

Even if you don’t sell costumes, stage makeup or lawn decorations, you can still scare up some business at Halloween using these tricks:

Decorate.  When planning decorations, remember you want the atmosphere to appeal to your customers and prospects. That might mean employees dressed (and acting) as zombies; it might mean using cheerful ghosts and cute black cats. Know your audience before sprucing up your storefront. (more…)

Three Cost Effective Ways to Generate Press for Your Business

October 29, 2012

Getting the press your business deserves comes down to building relationships with writers and having a compelling product or service. There are many ways to generate buzz for your business, but below we’ve provided three to generate traction without breaking the bank.

Analyze your competition

Are any of your competitors receiving endless amounts of press? Find out which journalists are writing those articles and how you can build a relationship with them. Make sure you only email them when you have something interesting to say. Writers can’t stand pitches that are completely self-promotional. (more…)

Q&A: Boost Your Business Knowledge with a Board of Advisors

October 28, 2012

Q: I run a small business with seven employees. At times I find myself looking for advice on a variety of business decisions, but unlike big corporations I can’t afford to hire a high priced consultant. Who can I go to for affordable small business advice?

A: Everyone needs good advice when starting and running a small business, even those who have done it before. And it has nothing to do with size. Executive managers of large companies routinely consult highly experienced and respected advisors for unbiased feedback before making key decisions or implementing major changes.

So why should you be different? You can get the same kind of experience and insights, without the high fees of professional consultants, simply by forming an advisory board for your small business. (more…)