Wednesday, July 23, 2014
Top Entrepreneur News

Wed, 23 Jul 2014 11:00:00 -0500

Why events focused on the creative arts may be a more effective way to meet other innovators, find inspiration and reconnect with your entrepreneurial soul.

Wed, 23 Jul 2014 11:00:00 -0500

Domino's ad for Specialty Chicken features a reference to a failed cookie pizza just as Pizza Hut rolled out a cookie pizza of its own.

Tue, 22 Jul 2014 23:00:00 -0500

Websites don't always require costly features, gimmicks or tricks to scale. Often it just comes down to good content.

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

Shared experiences and live interactions can build a bond that lasts, creating a customer for the long run.

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

After completing his challenge of taking 30 courses in 30 days, a businessman shares his insights.

Tue, 22 Jul 2014 21:30:00 -0500

An author hawking his books in the park provides some examples for strategies that can easily be adapted for your business.

Tue, 22 Jul 2014 21:00:00 -0500

More devices are expected to be connected at the end of the decade. Router-maker Belkin recently launched a new product line to get an early start.

Tue, 22 Jul 2014 20:45:00 -0500

The consumer tech giant beat on profit and missed on revenue in the third quarter.

Tue, 22 Jul 2014 20:30:00 -0500

Those "cult'' brands that sell without apparent effort share some basics, regardless of product or market.

Tue, 22 Jul 2014 20:21:39 -0500

The retailer will launch a line of head-to-toe outfits "best suited for different professions," including 'The Corporate Guy,' 'The Creative Guy,' and yes, 'The Startup Guy.'

Tue, 22 Jul 2014 20:00:00 -0500

The founder of startup Fusio-io used a technique that is critical to every entrepreneur in the world but seldom mastered.

Tue, 22 Jul 2014 19:50:00 -0500

The mobile ad and analytics company is one of Yahoo's most expensive acquisition to date under CEO Marissa Mayer.

Tue, 22 Jul 2014 19:41:00 -0500

Two courts disagree on whether the Internal Revenue Service can provide subsidies to those purchasing health insurance on the federal health insurance exchange.

Tue, 22 Jul 2014 19:30:00 -0500

Entrepreneurs seeking to market to educators would benefit from understanding how new apps and tools align with schools’ day-to-day needs.

Tue, 22 Jul 2014 19:00:00 -0500

Learn how to make your message stand out in the crowd by being fresh, relevant and interesting, and sharing and engaging with fellow community members.

Tue, 22 Jul 2014 18:33:00 -0500

There are several important factors to consider before you license your invention. Here's a handy overview to help you out.

Tue, 22 Jul 2014 18:30:00 -0500

Effective sales teams are the product of the culture within the team, across the company and including customers.

Tue, 22 Jul 2014 18:00:00 -0500

Using content is cheaper and more effective than traditional advertising. Here are three things your strategy should entail.

Tue, 22 Jul 2014 17:32:21 -0500

In this drawing, Apple's image for a smartwatch looks similar to other devices that are already out.

Tue, 22 Jul 2014 17:30:00 -0500

Tolerating interruptions is not the hallmark of a successful business leader.

Tue, 22 Jul 2014 17:22:00 -0500

The venture signals that YouTube stars with palpable buzz and inbuilt fan bases have become increasingly enticing to the world’s biggest music corporations.

Tue, 22 Jul 2014 17:00:00 -0500

These franchise founders are turning oddball menu offerings into serious business.

Tue, 22 Jul 2014 16:55:00 -0500

Eighty-five investors can now say they own part of The Hard Rock Hotel in downtown Palm Springs, Calif.

Tue, 22 Jul 2014 16:30:00 -0500

In the world of startups, entrepreneurs have very little time. To help organize tasks and responsibilities, consider these tips.

Tue, 22 Jul 2014 16:00:00 -0500

Do the following traits, characteristics and quirks describe you?

Tue, 22 Jul 2014 15:30:00 -0500

Setting an ambitious goal at your company can act as a magnet to the best employees, who will want to stick around to see it through.

Tue, 22 Jul 2014 15:15:00 -0500

Legal battles with franchisees, expired meat and another disappointing quarterly report: it's already been a hard week for McDonald's.

Tue, 22 Jul 2014 15:00:00 -0500

One of the top issues for business owners is finding time, so technology solutions are needed to ease the burden.

Tue, 22 Jul 2014 15:00:00 -0500

How asking ‘why’ can help you lock up the sale.

Tue, 22 Jul 2014 14:30:00 -0500

You design your environment, and how you do so says as much about you, your passion, commitment and leadership style as it does about your company culture.

Tue, 22 Jul 2014 14:00:00 -0500

Apoorva Mehta’s company, the grocery delivery service Instacart, just raised $44 million and is expanding rapidly.

Tue, 22 Jul 2014 13:30:00 -0500

To win at poker, consistently make the right bets on the right cards. Winning in business -- and in life -- is exactly the same.

Tue, 22 Jul 2014 13:00:00 -0500

You don't need a massive budget to create high-quality commercial-like videos. You just need an iPhone and a few tips.

Tue, 22 Jul 2014 12:30:00 -0500

Twitter can be a great way to connect with new personal and business contacts. Here are the ways I use the social network to my benefit.

Tue, 22 Jul 2014 12:00:00 -0500

When starting up, it's OK if you don't know what you're doing some of the time. Here's why you should always keep an open mind and keep learning.

Tue, 22 Jul 2014 11:30:00 -0500

Jim Koch has had the same title for the last three decades, but he's as excited as ever to go to work each day. Here's why.

Tue, 22 Jul 2014 11:30:00 -0500

Devang and Chaitali Kothari didn't realize that the biggest challenge in franchising would be learning to be good managers.

Tue, 22 Jul 2014 11:00:00 -0500

It's not always possible to bring a valued partner along to a presentation but it can better the odds at success.

Tue, 22 Jul 2014 11:00:00 -0500

Costumers judge your site first by how it looks and performs, then content.

Mon, 21 Jul 2014 23:00:00 -0500

Shun haphazard management, break the inertia of old habits and set up the dynamics for success.

Mon, 21 Jul 2014 22:30:00 -0500

A CEO who can't turn off that business persona for the nonwork parts of life may encounter a bountiful set of serious problems.

Mon, 21 Jul 2014 22:00:00 -0500

That feeling of being unfettered on the Internet is an illusion but some basic legal documents will make it virtually real.

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

Those college kids running errands, unburdened by your senior staff's decades of experience, can’t help but have a fresh perspective.

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

The impulse may be to rush to market, but taking the time to understand your potential customers will go a long way.

Mon, 21 Jul 2014 20:30:00 -0500

Zero hour contracts, already common in UK and Europe, are likely to catch on in the US.

Mon, 21 Jul 2014 20:30:00 -0500

It's a vulgar, panicky and needy habit.

Mon, 21 Jul 2014 20:19:00 -0500

Hasbro and the online marketplace Shapeways said their team-up marks the first time that a major global company has opened up its intellectual property for fan-made products.

Mon, 21 Jul 2014 20:00:00 -0500

Here are five must-read books that show what entrepreneurial success really takes, and how we can apply the principles of the best to our business.

Mon, 21 Jul 2014 19:30:00 -0500

Sharpen your game as customers are becoming more knowledgeable and higher-quality goods are being sold online.

Mon, 21 Jul 2014 19:00:00 -0500

Big Data offers tantalizing opportunities that can be seized with the right tools and culture.

Mon, 21 Jul 2014 18:30:00 -0500

The stamina and values of veterans are major assets for every employer. Helping them make the transition from military life to civilian employment is the right thing to do.

Mon, 21 Jul 2014 18:28:00 -0500

Your pooch may finally be able to contribute to household expenses if it snags this highly paw-veted position.

Mon, 21 Jul 2014 18:00:00 -0500

The unblinking vigilance required to protect data systems is creating opportunity for job seekers and entrepreneurs.

Mon, 21 Jul 2014 16:36:00 -0500

A supplier to the fast-food chains in China has been accused of using expired meat and allowing unhygienic practices.

Mon, 21 Jul 2014 16:30:00 -0500

The difference between success and failure often comes down to these actions.

Mon, 21 Jul 2014 16:23:00 -0500

After taking a leap of faith 22 years ago, Susan and Dan Manwaring have opened 14 Batteries Plus Bulbs stores.

Mon, 21 Jul 2014 16:19:00 -0500

Speaking at a business conference in Paraguay, Mexican telecommunications billionaire Carlos Slim called for a 'radical overhaul' of the traditional workweek paradigm.

Mon, 21 Jul 2014 16:11:00 -0500

Turns out, America's airline companies have the world's most uncomfortable seats. Yay.

Mon, 21 Jul 2014 16:00:00 -0500

A worker group is filing charges against franchisees and McDonald's as a joint employer, setting a precedent that could have broad ripple effects.

Mon, 21 Jul 2014 16:00:00 -0500

A strong equity position supports the notion that the owner is likely to protect the investment and repay borrowed funds.

Mon, 21 Jul 2014 15:43:00 -0500

The NBA star has partnered with former NBC executive Stuart Goldfab to create M7 Tech Partners, a venture capital firm that will invest in early-stage startups.

Mon, 21 Jul 2014 15:35:00 -0500

The Ritot team set out to raise $50,000 through crowdfunding and has earned it almost eight times over.

Mon, 21 Jul 2014 15:30:00 -0500

It’s important not to overlook the power of small steps and single interactions that can solidify and share your brand with others.

Mon, 21 Jul 2014 15:00:00 -0500

Whether you run a small company or a large corporation, changing a culture should be done with care, or risk an implosion.

Mon, 21 Jul 2014 15:00:00 -0500

Get a thriving company off the ground with this plan.

Mon, 21 Jul 2014 14:30:00 -0500

If you've launched and are running your own business, give yourself a pat on the back with this affirming list.

Mon, 21 Jul 2014 14:00:00 -0500

It can be tough selling a whole new concept, so consider following the lead of another company and making improvements.

Mon, 21 Jul 2014 13:30:00 -0500

New tech solutions enable companies to launch campaigns on their own portal when raising money.

Mon, 21 Jul 2014 13:15:00 -0500

Even the cryptocurrency's biggest boosters admit it is probably too early to be useful to the mainstream.

Mon, 21 Jul 2014 13:00:00 -0500

Target's recent decision to ban guns along with other brands, such as Starbucks, Chili's and Sonic, brings with it impassioned reactions from both sides of the issue.

Mon, 21 Jul 2014 13:00:00 -0500

New Orleans-based meal-experience company Dinner Lab depends on participants giving their honest feedback on every course.

Mon, 21 Jul 2014 12:30:00 -0500

There's only so much you can control, but it's how you act that usually determines your circumstances.

Mon, 21 Jul 2014 12:22:00 -0500

There is nothing "fun" about fundraising. I am going through it now...

Mon, 21 Jul 2014 12:00:00 -0500

Why are you feeling so sleep deprived? Here are some practical tips for mastering your sleep and having more energy.

Mon, 21 Jul 2014 11:00:00 -0500

Want to get advice from an industry leader? Here's how to do it the right way.

Sun, 20 Jul 2014 20:00:00 -0500

Entrepreneurs are busy folks. Doing these workouts outside the gym can help keep you on a fitness track.

Sun, 20 Jul 2014 18:00:00 -0500

Lessons from the master of horror can apply to startups, too.

Sun, 20 Jul 2014 18:00:00 -0500

A look at what you should do with your 401(k) if you are unemployed.

Sat, 19 Jul 2014 20:00:00 -0500

Weedmaps is establishing itself as the go-to portal for a new market.

Sat, 19 Jul 2014 16:00:00 -0500

Success in the gym, as with most things in life, comes down to mastering the basics.

Sat, 19 Jul 2014 14:00:00 -0500

Professors doing original research and entrepreneurs looking for the next great innovation have much in common.

Fri, 18 Jul 2014 23:00:00 -0500

Training can ensue in a variety of settings short of the college campus.

Fri, 18 Jul 2014 22:30:00 -0500

Millennials can be a fickle bunch. Here are three strategies you need to be using to market your content to this demographic.

Fri, 18 Jul 2014 22:00:00 -0500

With the Internet full of websites, it is hard to get people to find your business and engage with it. Here are five tips on how to make your website copy come alive.

Fri, 18 Jul 2014 21:30:00 -0500

Whether you've yet to build an online presence or it is lacking, follow this guide and start gaining customers.

Fri, 18 Jul 2014 21:00:00 -0500

With a Facebook business site, a little elbow grease and guts, it's possible to launch a business. Don't wait for perfection.

Fri, 18 Jul 2014 20:30:00 -0500

Money is helpful when you launch your company but hustle and lots of work can get you rolling.

Fri, 18 Jul 2014 20:00:00 -0500

Uber, Airbnb and TaskRabbit are growing in popularity and should continue to rise. Now's the time to look at your business and see if you can follow those companies' paths.

Fri, 18 Jul 2014 19:00:00 -0500

The buck shouldn't always stop with the CEO but, when it does, there are practical ways to come to the best decision.

Fri, 18 Jul 2014 18:35:00 -0500

The crowdfunding platform got organized and made its lunchtime team-building routine into a few lines of computer code.

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

Hold fast when the naysayers unleash a barrage of discouragement. It makes it even better when you succeed.

Fri, 18 Jul 2014 18:03:00 -0500

One of the world's largest couriers has been accused of conspiring to deliver prescription drugs on behalf of illegal Internet pharmacies.

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

Some of the companies that are expected to falter next year are headed by entrepreneurs you're very familiar with.

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

Hip startup employees have been known to enjoy digital entertainment at work, but does it actually have a positive effect on employees?

Fri, 18 Jul 2014 17:30:00 -0500

Follow these nine steps to get a fair deal that both parties are comfortable with.

Fri, 18 Jul 2014 17:00:00 -0500

Weary travelers should ward off the impulse to retreat to their hotel room. Instead descend on the lucrative business nexus.

Fri, 18 Jul 2014 17:00:00 -0500

Productivity expert Jason Womack explains why every startup should communicate its email protocol to employees.

Fri, 18 Jul 2014 16:30:00 -0500

Physical or emotional harassment persists when no one speaks up or sets boundaries.

Fri, 18 Jul 2014 16:13:00 -0500

Businesses owned by women are booming in the South. Check out this infographic to see how your state matches up.

Fri, 18 Jul 2014 15:52:00 -0500

This European country has reigned supreme as the most innovative in the world for the past four years, according to a new report.

Wed, 23 Jul 2014 07:41:00 -0500

Experts in their field and divine in name they may be, but business angels cannot see the future any more than we can. After speaking to Peter Cowley, Cambridge-based entrepreneur and business angel, I ask, in such an uncertain sphere as angel investment  Hearing Peter talk about various businesses he has invested in during his time as a business angel, demonstrates just how much unanticipated change can befall a young company. For instance, Peter tells me about a recent success story he has been involved in - Plumis - a company that has had to endure running out of funds twice, two 5-month-long stints where the directors ceased paying themselves and moving entire market sectors before turning around its fortunes. Peter says Plumis now operates as a ‘very well protected’ innovative mist-based fire suppression system business with ‘good gross margins’, but it is clearly a very different company from the one he invested in originally. This is not to say his investment was an imprudent one merely because the company has evolved. In fact, it is likely an example of why angels often invest in the team above all else. But it does beg the question,

Wed, 23 Jul 2014 07:29:00 -0500

We might call this a story about the perils of short selling stocks. For Bill Ackman has long been both bearish and short on , the nutritional supplements company, insisting that it's actually just a pyramid scheme and should thus be closed down. Ackman (through his hedge fund, Pershing) is short some $1 billion worth of Herbalife stock as a result of his convictions that it's all a fraud. There is a certain problem with this though as the stock is up 60% since he first revealed his position. And the stock then fell 15% two days ago, as Ackman revealed that he was going to make yesterday's presentation. And so he did make the presentation and then: Over 3½ hours, Mr. Ackman, who has placed a $1 billion bet against Herbalife, unveiled what he described as new evidence supporting his argument that the company is a "criminal enterprise."

Wed, 23 Jul 2014 01:59:00 -0500

, the internet search behemoth based in Mountain View, , is offering to pay a $1 million prize - as part of the Little Box Challenge - to anyone who can design and build a better small-scale power inverter.

Tue, 22 Jul 2014 22:20:00 -0500

iPhone and iPad users have long been able to laud the superior security of their devices over rivals. But it seems one crucial aspect has been forgotten: what if the hacker is ?

Tue, 22 Jul 2014 17:47:00 -0500

Xiaomi, the brand behind China’s best-selling Android phone, has released its 2014 flagship – Mi 4. Despite Xiaomi’s -style secrecy measures, the specs of the new phone have long been known. Rumors have been around since at least two weeks ago that the new phone would sport a 2.5GHz quad-core Snapdragon 801 processor, 3GB of RAM, a 13MP main camera and a 8MP frontal one – all of which proved to be accurate. In terms of software, the Mi4 demonstrated at the launch event was powered by the company’s current MIUI5, a modified Android OS, but Xiaomi promised that the new MIUI6 is on the way and will be available in August. The new operating system features some localized service, including booking a doctor’s appointment and ordering food. Pricing-wise, it appears that Xiaomi has established a tradition that it sees no reason to break. The base model of Mi4 is priced at 1999 yuan; if you remember, that is also the price of the first generation Mi phone at its launch four years ago. In his speech, Lei Jun spent much time describing Mi4’s stainless steel rim. Although the thing looks to me just like the iPhone 4’s design but Lei promised that his is more sophisticatedly manufactured and feels better. Paying so much attention to something relatively unimportant may seem absurd, but the company doesn’t stop there. It went to such lengths to produce a documentary-style commercial showing how the transformation took place. A piece of  crude metal, after going through  a process of cutting, welding and polishing, finally acquired the jewelry-like look. Actually, Xiaomi is so proud of the idea that it named the launch event “The Artful Journey of A Piece of Steel.” The intention seems clear. The company is so ambitious that it is no longer satisfied with being seen as a low-priced, quality phone maker, but instead wants to be perceived as an affordable but design-oriented tech brand. Besides, showing this amount of attention being paid to something as trivial as this may convince some consumers that despite the low prices, no corners were cut. This emphasis on design is also manifested in the new smart bracelet that debuted along with the Mi4. Aside from being a health-monitoring device, the bracelet also functions as a personal ID device. By moving your bracelet-wearing hand close to your Mi phone, the phone will know who you are, and unlock the screen for you.

Tue, 22 Jul 2014 17:03:00 -0500

Hedge fund billionaire William Ackman promised to deliver a deathblow to from a Manhattan stage, but his long presentation on Tuesday bombed with investors and left the diet shake seller unscathed.

Tue, 22 Jul 2014 14:00:00 -0500

One of the most compelling stories I heard at the recent Aspen Ideas Festival was from Brett Begemann, president and chief operating officer of .

Tue, 22 Jul 2014 13:22:00 -0500

By Darrah Brustein

Mon, 21 Jul 2014 20:28:00 -0500

Chipotle's still hotter than hot sauce.

Mon, 21 Jul 2014 13:47:00 -0500

Hollywood is increasingly in the business of making movies with disposable actors -- performers who are almost interchangeable and easily replaced. The special effects and bombastic action sequences required for the modern blockbuster cost many millions of dollars. Any money studios can save by casting less-famous actors is money that can go to the bottom line. And if those actors can be easily swapped out in sequels, all the better. A disposable actor doesn't really have the leverage to demand a big pay hike.

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Chaldeans Buying Businesses Need to Beware
By Bedre Konja :: Monday, January 28, 2008 :: 10176 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. 

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