Tuesday, July 29, 2014
Top Entrepreneur News

Tue, 29 Jul 2014 23:00:00 -0500

Candidates can shine not just by presenting descriptive data like a resume of accomplishments but predictive data such as plan to solve problems for a prospective employer.

Tue, 29 Jul 2014 22:30:00 -0500

If you're feeling lonely while you toil out there on the web, take some lessons from these vibrant websites. What they did, you can do.

Tue, 29 Jul 2014 21:30:00 -0500

Steer the company in new directions without alienating the traditional customer base or losing sight of the core mission.

Tue, 29 Jul 2014 21:30:00 -0500

Being open and honest with employees can solve issues such as low morale, poor engagement and turnover.

Tue, 29 Jul 2014 21:00:00 -0500

The ability to keep making progress may just be the greatest skill an entrepreneur can learn.

Tue, 29 Jul 2014 20:30:00 -0500

Neil Patel shares some of his top SEO and content-marketing secrets.

Tue, 29 Jul 2014 20:30:00 -0500

Business incubators present an amazing opportunity for startup companies, as long as you have the right expectations.

Tue, 29 Jul 2014 20:27:00 -0500

The social-media company saw a 24 percent jump in monthly average users in the second quarter.

Tue, 29 Jul 2014 20:00:00 -0500

Great CEOs will critically assess their managers to detect those not performing at the highest level.

Tue, 29 Jul 2014 19:30:00 -0500

The redesign shows you how someone came across your profile, informing you of whether they searched for you or found you through a shared connection.

Tue, 29 Jul 2014 19:30:00 -0500

Follow these six steps for a killer performance that will leave a lasting impression.

Tue, 29 Jul 2014 19:00:00 -0500

McDonald's says the National Labor Relations Board has deemed it a 'joint employer' – a decision that could redefine franchising as we know it.

Tue, 29 Jul 2014 19:00:00 -0500

Content marketing to other businesses is a lucrative play, but less so if you don't avoid these pitfalls.

Tue, 29 Jul 2014 18:52:00 -0500

While the embattled company's CEO is unsure that BlackBerry will be the iconic brand it once was, he remains optimistic about the future.

Tue, 29 Jul 2014 18:41:00 -0500

Calling all brains: The TSA is looking for someone to help them figure out this major airport headache -- and is willing to pay for the solution.

Tue, 29 Jul 2014 18:30:00 -0500

Investment marketplace CircleUp picks companies that are pioneering new categories and re-imagining new industries.

Tue, 29 Jul 2014 18:00:00 -0500

Employers have multiple reasons to really encourage their workers' fitness and grant a financial incentive for follow-through.

Tue, 29 Jul 2014 17:57:00 -0500

The widespread outrage directed at Facebook for manipulating its users' emotions has the dating site, which has been routinely running experiments on its own users, perplexed.

Tue, 29 Jul 2014 17:30:00 -0500

For new and established businesses alike, organic traffic is a precious resource, and building it can seem insurmountable.

Tue, 29 Jul 2014 17:00:00 -0500

Socialfly examines the Twitter fans of 10 major companies to judge which ones are real. See the results.

Tue, 29 Jul 2014 16:30:00 -0500

The ability to tell a tale is a priceless skill, especially in your marketing. Here's how to create stories that give your business top-of-mind awareness.

Tue, 29 Jul 2014 16:18:00 -0500

Actress Blake Lively was looking to follow in Stewart's footsteps in launching her own lifestyle company. Stewart's response? 'Let her try.'

Tue, 29 Jul 2014 16:00:00 -0500

The easiest way to wrest back control over a roller-coaster sales cycle is by managing the pricing of your products or services.

Tue, 29 Jul 2014 15:30:00 -0500

After realizing he wasn't really moving forward at his startup, founder Alex Lorton decided to make a big change in his approach to the entrepreneurial world.

Tue, 29 Jul 2014 15:15:00 -0500

No joke: A robot made of an old bucket, galoshes and a computer 'brain' is attempting to hitchhike across Canada.

Tue, 29 Jul 2014 15:15:00 -0500

Clarence Otis announced his departure from the parent company of Olive Garden on the same day the company completed the sale of Red Lobster.

Tue, 29 Jul 2014 15:00:00 -0500

The billionaire entrepreneur’s basic rules to get a business off to a strong start.

Tue, 29 Jul 2014 14:30:00 -0500

Sales veterans, don't endure a Willy Loman twilight. Get the knack for social media and you'll dream of what you might have done with it back-in-the-day.

Tue, 29 Jul 2014 14:17:00 -0500

Spain passed a law last week that taxes any site linking to articles published by members of the country's newspaper association that contain descriptions of their work.

Tue, 29 Jul 2014 14:00:00 -0500

Follow these tips to ensure the recipients of your messages don't hit the delete key, or worse, unsubscribe.

Tue, 29 Jul 2014 13:45:00 -0500

Social media is a powerful tool that is transforming culture, changing how we see things, interacting with each other and connecting with each other on a daily basis.

Tue, 29 Jul 2014 13:30:00 -0500

Choosing the right hires for your organization is crucial to building a thriving business. Here's how to get it right.

Tue, 29 Jul 2014 13:00:00 -0500

Experts discuss the key traits of successful franchisees and how to find the business model that's right for you.

Tue, 29 Jul 2014 12:45:00 -0500

The inaugural class of the New York Fashion Tech Lab shows how big a business opportunity fashion can be.

Tue, 29 Jul 2014 12:30:00 -0500

You may think people like and understand you, and want to help your business. You're dead wrong.

Tue, 29 Jul 2014 12:00:00 -0500

Leaders must start paying more attention to the words they use to make their messages more powerful, inspirational and motivational.

Tue, 29 Jul 2014 11:30:00 -0500

Sure, you're idea is unique but how businesses survive, or don't, is the same for everybody.

Tue, 29 Jul 2014 11:00:00 -0500

Brutal hours, low pay, stock option souvenirs, smart people with good ideas routinely going broke. You can fall in love, again, with your day job.

Mon, 28 Jul 2014 22:30:00 -0500

Here are four steps to quickly create a strong online reputation.

Mon, 28 Jul 2014 21:34:00 -0500

If the rumors are true, the nation's largest online retailer could give Square and PayPal a run for their money.

Mon, 28 Jul 2014 21:30:00 -0500

Often ignored in an owner's rush to develop a new product or invention, the passion workers feel for a company can be critical for results.

Mon, 28 Jul 2014 21:00:00 -0500

It helps to bring in others to fill any gaps in your skill or experience. Here are five variables that will help you determine how much a new partner is worth.

Mon, 28 Jul 2014 20:36:00 -0500

The initiative is aimed at younger travelers who are increasingly placing hotel reservations on mobile phones.

Mon, 28 Jul 2014 20:34:00 -0500

Now that Golden Gate Capital has acquired Red Lobster from Darden Restaurants, the seafood chain is trying to emphasize its quality.

Mon, 28 Jul 2014 20:30:00 -0500

The old ways of networking are dying. There are options to build organic relationships that every entrepreneur can utilize and enjoy at the same time.

Mon, 28 Jul 2014 20:00:00 -0500

Avoid these no-nos to inspire investor passion. Provide compelling evidence of a boost to their bottom line.

Mon, 28 Jul 2014 19:30:00 -0500

They're just as bad as everyone says they are. Here's why.

Mon, 28 Jul 2014 19:30:00 -0500

The other half of a leadership and marketing consulting firm describes the keys to running a business with the person you married.

Mon, 28 Jul 2014 19:00:00 -0500

Customers are doing their own research. So traditional methods of promotion don't suffice.

Mon, 28 Jul 2014 18:30:00 -0500

Everybody could use a little help from their friends but, sometimes, you need to make the friend who can help you that little bit.

Mon, 28 Jul 2014 18:17:00 -0500

While ethically dubious, the Knee Defender is likely to appeal to business travelers all too familiar with the crammed quandary of flying coach.

Mon, 28 Jul 2014 18:10:00 -0500

Apple is reportedly purchasing a podcast and radio streaming app called Swell.

Mon, 28 Jul 2014 18:00:00 -0500

Entrepreneurs may start out acknowledging their vulnerabilities but then quickly fall into image management. Here are ways for business leaders to be authentic and cultivate the best from staff.

Mon, 28 Jul 2014 17:30:00 -0500

If the HBO TV series is anything to go by, tech entrepreneurs have overtaken Hollywood actors in popular culture.

Mon, 28 Jul 2014 17:00:00 -0500

It's one thing to author a smash hit, but it's quite another to pen a best-seller that stands the test of time on the business shelves.

Mon, 28 Jul 2014 16:45:00 -0500

Customers can design and create their own products in a new online shop announced by the Seattle-based ecommerce giant today.

Mon, 28 Jul 2014 16:30:00 -0500

Workers are checking their phones a staggering amount each day, according to a recent survey.

Mon, 28 Jul 2014 16:16:00 -0500

Following a six-week courtship, two mega real-estate listings websites are joining forces to create a colossal database of digital listings.

Mon, 28 Jul 2014 16:15:00 -0500

The airline, which was founded in 2007 and is partly owned by serial entrepreneur Richard Branson, filed with the Securities Exchange Commission on Monday after announcing its first annual profit.

Mon, 28 Jul 2014 16:00:00 -0500

Those who excel worked hardest to overcome their doubt and fear.

Mon, 28 Jul 2014 15:30:00 -0500

Creating a successful and profitable business takes time.

Mon, 28 Jul 2014 15:00:00 -0500

As you prepare to launch your company, keep these social-media rules in mind.

Mon, 28 Jul 2014 14:30:00 -0500

A business ending shouldn't be seen as the end of the line. With each defeat, comes important lessons to get it right next time.

Mon, 28 Jul 2014 14:00:00 -0500

We're more than half way through 2014: Where does your business stand in terms of taxes?

Mon, 28 Jul 2014 13:30:00 -0500

Skeptical of allowing employees to work remotely? Don't be. Here are five steps to getting started and getting more productivity from employees.

Mon, 28 Jul 2014 13:30:00 -0500

A social-media expert can’t give you the secret to their success in five minutes, so don’t ask.

Mon, 28 Jul 2014 13:00:00 -0500

With new franchise initiatives, the smoothie chain wants to almost double its number of franchised locations in the next five years.

Mon, 28 Jul 2014 13:00:00 -0500

The popular Bitcoin wallet app is back after being pulled from the App Store in January.

Mon, 28 Jul 2014 13:00:00 -0500

Dinner Lab, which hosts pop-up dinners in overlooked, underused spaces across the country, empowers its staff with an important sense of ownership.

Mon, 28 Jul 2014 12:30:00 -0500

Placemeter aims helps cities run more efficiently. But its tactics might creep you out.

Mon, 28 Jul 2014 12:00:00 -0500

A cautionary tale, and some questions to consider when collaborating and facing a major compromise.

Mon, 28 Jul 2014 11:30:00 -0500

When his father died, it was Mark Calis's turn to step up as co-owner of a Minuteman Press with his mother.

Mon, 28 Jul 2014 11:30:00 -0500

Nobody knows everything, even in their own field. This lawyer got herself into trademark difficulty that a few simple steps would have avoided.

Mon, 28 Jul 2014 11:00:00 -0500

You don't have to be born with the gift of gab to become an expert communicator. Here are six tips for better speaking and listening.

Sun, 27 Jul 2014 18:00:00 -0500

These 20 proactive and budget-friendly tips will help you maximize your time off.

Sun, 27 Jul 2014 16:00:00 -0500

Splash is the first platform that allows users to manage the entire life-cycle of an event.

Sat, 26 Jul 2014 19:00:00 -0500

Just because you own a franchise, a business with proven systems and tested procedures, doesn’t mean you can kick back and chillax.

Sat, 26 Jul 2014 16:00:00 -0500

The newest trends in workplace design highlight employee choice, wellness, lifestyle amenities and opportunities for mentorship.

Sat, 26 Jul 2014 13:00:00 -0500

A look at URLs that have sold for $1 million or more.

Sat, 26 Jul 2014 10:00:00 -0500

A reading list ranging from the cutting edge of social media to wisdom from decades past that is relevant for all time.

Fri, 25 Jul 2014 23:00:00 -0500

In delivering a business pitch about a novel invention, be sure to bolster your presentation with facts and know your audience.

Fri, 25 Jul 2014 22:30:00 -0500

A Bay Area manager shares some new-company growing pains.

Fri, 25 Jul 2014 22:00:00 -0500

Of course you want the fattest profit margin you can earn, so don't undercut yourself trying to achieve it.

Fri, 25 Jul 2014 21:30:00 -0500

Around the world, organizations are doing good things to revitalize the places where they reside.

Fri, 25 Jul 2014 21:00:00 -0500

If you're plagued by a half-finished to-do list, and partially completed projects are taking over your life, here's a plan.

Fri, 25 Jul 2014 20:30:00 -0500

Video content is heating up the Internet. Entrepreneurs can jump on this bandwagon by producing simple explainer videos.

Fri, 25 Jul 2014 20:00:00 -0500

A company president reveals the secrets he wished he knew when he was a young manager starting out.

Fri, 25 Jul 2014 19:37:00 -0500

Preliminary discussions between Mark Zuckerberg and Travis Kalanick point to the social network's stated desire to diversify and monetize its messaging platform.

Fri, 25 Jul 2014 19:30:00 -0500

Results are often thwarted by factors beyond our control. Leaders build winning teams by focusing on what they can control.

Fri, 25 Jul 2014 19:00:00 -0500

Take a page from the journalist playbook and learn how to research, conduct and write interviews -- skills that will help you get your business’s message across.

Fri, 25 Jul 2014 19:00:00 -0500

Making a team from a staff working on separate continents requires more than just technology. Only the team leader can bring them all together.

Fri, 25 Jul 2014 18:30:00 -0500

As people are trying to navigate away from the 'corporate jungle' towards the land of supposed 'entrepreneurial utopia,' a lot of misconceptions arise. Here are five big ones.

Fri, 25 Jul 2014 18:10:00 -0500

After its first launch was held up by New York State Supreme Court, the San Francisco-based company is set to hit the streets in the Big Apple starting tonight.

Fri, 25 Jul 2014 18:09:00 -0500

We don't like to talk about faith, but it is a key component in letting go of situations we can't control.

Fri, 25 Jul 2014 18:00:00 -0500

Author of book on inventing shares his secrets that landed his book near the top of an Amazon chart.

Fri, 25 Jul 2014 17:30:00 -0500

Selling has very little to do with what you sell and everything to do with how you sell yourself.

Fri, 25 Jul 2014 17:03:00 -0500

Laugh. Watch Will Ferrell movies. Kiss your kids. Intentionally sweat. Stay hydrated.

Fri, 25 Jul 2014 17:00:00 -0500

To start a successful business, you'll have to quickly learn some techniques that aren't in any book.

Fri, 25 Jul 2014 17:00:00 -0500

Here's the first step to becoming more deliberate and intentional in your communication with others.

Fri, 25 Jul 2014 16:43:00 -0500

Big data, meet genetic data. Baseline Study, a Google X project, will collect genetic information from volunteers in order to refine the detection and prevention of diseases.

Tue, 29 Jul 2014 21:40:00 -0500

The size, shape and front of the iPhone 6 have all been the subject of a lot of speculation but it looks like the hard-to-scratch or break sapphire glass will not, after all, be one of its major assets. Sapphire is supposed to make the iPhone screen all but unbreakable. Today's news is that sapphire is unlikely to happen this time round.

Tue, 29 Jul 2014 19:55:00 -0500

While it might be obvious that Netflix is changing the world of video delivery, it seems its model may start to make its way more prominently into video games as well. EA has just debuted a rather interesting new program in the form of EA Access, which is coming exclusively to Microsoft's Xbox One.

Tue, 29 Jul 2014 17:49:00 -0500

Earlier this month Forbes took a look at the vast and varied array of careers--everything from data scientist to firefighter--that can provide great work-life balance.  While the particular characteristics of many of these occupations contribute to an employee’s ability to find a healthy relationship between the professional and personal, in each case the individual priorities and values of a worker, their manager, and the company overall will play a major role.

Tue, 29 Jul 2014 15:23:00 -0500

As the Ebola virus continues to spread throughout West Africa, with increasing concern among both health officials and the public alike, recent media reports about a death of a man who traveled to Lagos, Nigeria having been in an area rife with Ebola Virus, recently caught the world’s attention--and for good reason.

Tue, 29 Jul 2014 14:07:00 -0500

There was the young job seeker who showed up at his interview 15 minutes late, failed to apologize, and then asked if the interviewer had a garbage can so he could throw away his gum. There was also the 20-something applicant whose call to the hiring manager went dead in the middle of the conversation. The young woman didn’t call back for two hours, only to explain, without apology, that she had dropped her phone in a tub of water while she was getting a manicure. Then there was the mother who called her son’s boss when he wasn’t hired at the end of his internship, and demanded to know why.

Tue, 29 Jul 2014 12:00:00 -0500

Ever hear that women and minorities are loath to promote their own kind?

Mon, 28 Jul 2014 15:30:00 -0500

It’s very fashionable to hate nowadays. The recent viral audio of their overzealous rep trying anything to keep a customer from disconnecting. The numerous surveys that consistently rate the company as one of the worst for customer service. The tens of thousands of frustrated tweets and forum posts you can easily find online just by Googling. Comcast is hated by supporters of net neutrality, ridiculed for its bad service and parodied on late night TV shows.

Sat, 26 Jul 2014 18:39:00 -0500

If money never sleeps, then those of us who spend our days chasing the filthy lucre should not expect the work life balance to redress itself any time soon, and the curse of it is, the more successful you are, the less downtime you have.

Wed, 23 Jul 2014 17:07:00 -0500

Many would tell you that if you show someone your heart, especially in business -- you are soft. Weak. Prey in a world of predators.

Wed, 23 Jul 2014 05:09:00 -0500

HT to Mark Perry, whose Chart of the Day inspired this post. Prof. Perry shows the rather astonishing decline over 8+ decades in the share of consumption expenditures devoted to food. I thought it would be interesting to contrast that to the rising share of family budgets devoted to health care during the same period.

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Chaldeans Buying Businesses Need to Beware
By Bedre Konja :: Monday, January 28, 2008 :: 10228 Views :: Article Rating :: Business & Finance

Chaldean entrepreneurs will mostly agree that buying a business is not simple; in fact, it is almost similar to starting a new venture. The struggle of finding a business that matches your capabilities and investigating the business potential to remain profitable is just the beginning.  Buying a business requires the same thoroughness as creating a business plan for starting a business. 

Edward Putrus, owner of West Coast Electrical Warehouse Supplies in Arizona says the ability to make a good business great is different than creating a new business.  Anthony Jurjus, an associate partner in the firm Rosen, Russel, and Silverman Consulting, PLC is a commercial real estate agent and business broker who often helps Chaldeans in finding and buying businesses.  “Anyone buying a business needs to do be careful, have a strategy, be patient, and persistent,” says Jurjus. 

Jurjus suggest Chaldeans follow a 10-step process in guarantying the business they buy is the right one. 

1. Like the start of a business plan, the business for sale must match the personal and financial objectives of the buyer.  It is important that the personal and financial goals are written out before you begin your search. The Business Playbook should include a "target business profile,” listing a set of specific criteria for what you expect, what you are willing to invest, the acceptable level of risk, the minimum expected return, and the time you can devote to learning and managing the business. 

2. It is important that Chaldeans locate business opportunities with the potential to grow and offer an attractive return on investment. Finding these potential opportunities can be difficult.  Places to look include reading classified advertisements, networking in the community, discussing opportunities with business brokers, spreading the word throughout the community that you are looking for a business, and checking industry sources. Resist the temptation to buy the first business that looks good; step back and look at it objectively.

3. Always make an appointment to see the business sellers or brokers for an initial introduction to the opportunity.  Ask that they provide you with brief financial reports, history, price, and reason for sale. This will allow you to know more about the business, how long it has been for sale and the financing adjustments that need to be made.

4. If the information they give looks good and the business seems to be sound, be sure to request for additional meetings to probe for more information. It is important to look at a business at different angles.

5. Review the facility closely to determine how well it has been managed and maintained. For service businesses, talk with the employees and even customers.  You might need to provide the seller a “A letter of intent” that shows you are a serious buyer.  The letter will help encourage the seller to provide more information.  Prepare a checklist of information needed, which should include the following:

  • A complete financial accounting of operations, including all income tax returns and state sales tax forms, for at least the past three years or from the beginning of operations if not established that long. 
  • Listing of all assets to be transferred to the new owner, including item breakdown of all inventory as of the last accounting period.  
  • A statement as to any legal action past or pending against the present operation.  
  • A copy of the business lease or mortgage.  
  • A list of all major suppliers to the business to include names and addresses of those to contact who are familiar with the operation.

6. Upon a satisfactory personal examination of all information received the potential buyer should then visit:

  • An accountant for further interpretation of financial information.
  • The landlord or mortgage holder to inquire about the transfer of the premise to a new owner. In the case of a lease, the expiration date should be discussed and if possible renegotiated to the intentions of the new owner. An on-site review of the facility should be conducted to assure it is in satisfactory condition.
  • Research the future of the market and the location.  Be sure to look into demographic changes, road changes, legislation that might impact the business.  Many business owners sell a business upon learning of some legal or city hardship, hoping the buyer will be unaware of the issue. 
  • Check with vendors that sell to the business to validate the sales reported and an opinion as to the likelihood of future growth of the business.

7. Request permission from the seller to allow you to spend time at the operation observing and surveying customer satisfaction.

8. Determine a fair price to offer for the business. It should be noted, however, that there is no universally accepted formula for determining business worth. Some of the approaches include book value and capitalization-of-earnings approach.

Before you present your offer to the seller, determine what financing arrangements can be made available through a lending institution or the seller.

Present the “Intent to Offer” in writing to the seller and be sure to include the appropriate business clauses such as accuracy of information, lending approval, and confirmation of pending legal actions to name a few.   Always include in the letter that the acceptance of the intent precludes the seller from negotiating with other buyers for some period of time so that the potentially costly efforts to investigate liens, financial information, and market analysis are able to be completed.

Normally, at this point, there will be negotiation. The more information that you have collected and analyzed, the more confident you will be in presenting your case.

As the buyer, you will have to use your best persuasion techniques to convince the seller your offer is fair and the advantages to the seller of accepting the offer. Be prepared to walk away if a major obstacle prevents you from obtaining important objectives. 

9. If an agreement is reached contact an attorney to draw up a suitable sales contract and research state records for any liens against the property for failure to pay a debt.

The contract should be contingent upon examinations of all assets to validate what is represented is true.

10.  Before signing a sales contract, the buyer should be present when a final inventory count of assets, including inventory, is taken.