Monday, September 01, 2014
Top Entrepreneur News

Mon, 01 Sep 2014 19:30:00 -0500

When she was 16, Dulce Luevano was making $5.15 working at CiCi's Pizza. Now, she owns her own shop.

Mon, 01 Sep 2014 17:30:00 -0500

Passion for her product drove Sanden Andrews to open up four Smoothie King shops.

Mon, 01 Sep 2014 16:00:00 -0500

Grill-cleaning can make for a grate opportunity for franchisees.

Mon, 01 Sep 2014 15:00:00 -0500

As a 21-year-old business novice, Lauren Morenz found meaning in her job as a Fetch! Pet Care franchisee.

Mon, 01 Sep 2014 14:00:00 -0500

College doesn't cut it.

Mon, 01 Sep 2014 13:00:00 -0500

Andrew Wilson hasn't let the fact that he’s spent five of the last 10 years deployed slow him down as a franchisee.

Mon, 01 Sep 2014 11:00:00 -0500

For this franchisee, franchising allowed her to serve others – and find the love of her life.

Sun, 31 Aug 2014 18:00:00 -0500

Working hard? Find the ultimate in relaxation at your home away from home with the help of these luxe services.

Sun, 31 Aug 2014 16:00:00 -0500

Imagination Yoga uses storytelling to encourage kids to move through a series of yoga positions.

Sun, 31 Aug 2014 14:00:00 -0500

More and more older Americans are heading back to school. Here's why.

Sun, 31 Aug 2014 12:00:00 -0500

One family discovered surprising savings in money and stress when they shed their second car in favor of ridesharing services and public transportation.

Sat, 30 Aug 2014 22:00:00 -0500

Google, Amazon and Uber are all testing delivery services.

Sat, 30 Aug 2014 19:00:00 -0500

Employees who use more vacation days end up with better performance reviews, according to a recent study.

Sat, 30 Aug 2014 16:00:00 -0500

Traffic lights for toilet stalls cuts down on bathroom wait times at concerts, stadiums and other venues.

Sat, 30 Aug 2014 14:00:00 -0500

Gain credibility and give your business a boost by putting your experiences on paper.

Fri, 29 Aug 2014 22:30:00 -0500

Consumers have little patience when shopping online but no business is too small to afford a high performance site.

Fri, 29 Aug 2014 22:00:00 -0500

If infographics blew up because they caught people’s attention where a boring report wouldn't, interactives are blowing up because they catch people’s attention -- and hold it.

Fri, 29 Aug 2014 21:30:00 -0500

When employees believe in the brand, the company prospers.

Fri, 29 Aug 2014 21:00:00 -0500

A coach shares his lessons from the basketball court, noting that the failure quotient is more important than IQ.

Fri, 29 Aug 2014 20:00:00 -0500

Startups that hire well-known industry insiders sometimes find they create bigger problems with their egos than they solve with their expertise.

Fri, 29 Aug 2014 19:30:00 -0500

Millennials who are new to management roles can follow these three tips to achieve better outcomes.

Fri, 29 Aug 2014 19:03:00 -0500

The 120-year-old company unveiled a new logo today, much to the amusement (and disgust) of commenters on social media.

Fri, 29 Aug 2014 19:00:00 -0500

Set up processes that build trust, accountability and communication to reap the benefits of having a remote operation.

Fri, 29 Aug 2014 18:30:00 -0500

The first year of a startup can be a brutal time for an entrepreneur. Here are a few lessons on how to survive the first 12 months.

Fri, 29 Aug 2014 18:00:00 -0500

Research shows that businesses of all sizes would be wise to include leadership from all walks of life.

Fri, 29 Aug 2014 17:48:00 -0500

Here's a statistical breakdown of all of the completed campaigns on Indiegogo and Kickstarter as of early August.

Fri, 29 Aug 2014 17:41:00 -0500

From grill-scrubbing robots to flamethrower-like fire starters, these hot gadgets can fire up your grilling game.

Fri, 29 Aug 2014 17:41:00 -0500

As the coffee market heats up, Dunkin' Donuts is finally serving up dark-roast brew.

Fri, 29 Aug 2014 17:30:00 -0500

Should you stay or should you go? Here's how to tell whether you should keep working with that client.

Fri, 29 Aug 2014 17:00:00 -0500

Treat every potential client as you would someone who you hope will give you a second date.

Fri, 29 Aug 2014 17:00:00 -0500

This CEO explains the one quality that he believes entrepreneurs need to study and master for success.

Fri, 29 Aug 2014 16:30:00 -0500

These seven practices can enhance the benefits of community in an informal office space.

Fri, 29 Aug 2014 16:27:00 -0500

Days prior to taking office, Emmanuel Macron suggested that unions should vote on certain 'exceptions' to a long-running and controversial French law.

Fri, 29 Aug 2014 16:09:00 -0500

If they succeed, the non-profit could use the registration to block other charities from capitalizing on the viral campaign.

Fri, 29 Aug 2014 16:00:00 -0500

Where the gap between the digital and the real starts to blur.

Fri, 29 Aug 2014 15:36:00 -0500

The California Supreme Court ruled that Domino's could not be held liable as an employer in an employee's sexual harassment case.

Fri, 29 Aug 2014 15:30:00 -0500

Starting a business requires a mentality that enjoys a mix of activities that include leadership, decision-making and problem solving.

Fri, 29 Aug 2014 15:00:00 -0500

This veteran explains the importance of creating a roadmap -- and delivering on it.

Fri, 29 Aug 2014 15:00:00 -0500

Don't lose hope when challenging projects seem to drag on. Use these tips to stay on track.

Fri, 29 Aug 2014 14:51:00 -0500

The tech giant recently completed test flights in Australia with a drone that hovers like a helicopter and flies like a plane.

Fri, 29 Aug 2014 14:30:00 -0500

Don't let your guard down when planning a getaway. Consider these tips to stay safe from criminals and online threats.

Fri, 29 Aug 2014 14:00:00 -0500

There is a massive problem of companies not pursuing customer inquiries right away, which is a huge opportunity for you.

Fri, 29 Aug 2014 13:30:00 -0500

The hardest part about being an entrepreneur isn’t coming up with the next genius idea, it's getting it out there.

Fri, 29 Aug 2014 13:13:00 -0500

After leading Rovio Entertainment for five years, Mikael Hed is stepping down as chief executive.

Fri, 29 Aug 2014 13:00:00 -0500

While many young techies are spending their money on nightlife, others are taking it a step further, by buying their own stake in restaurants and bars.

Fri, 29 Aug 2014 13:00:00 -0500

Before your kick-off your holiday weekend, check out the news business owners need to know.

Fri, 29 Aug 2014 12:30:00 -0500

Blogging has become the world's most crowded and competitive non-profession. The vast majority make peanuts and have close to zero market share.

Fri, 29 Aug 2014 12:00:00 -0500

Photos apparently outperform all other types of content on Google's social network.

Fri, 29 Aug 2014 11:30:00 -0500

Follow these tips to introduce movement into your otherwise sedentary day at the desk.

Fri, 29 Aug 2014 11:00:00 -0500

A huge majority of employees report being disengaged, mostly because they are ignored. Motivating them is often as simple as listening.

Thu, 28 Aug 2014 23:00:00 -0500

The power of mobile marketing to attract and retain customers turns against entrepreneurs who forget there is a person receiving that message.

Thu, 28 Aug 2014 22:30:00 -0500

Add these business titles to your book bag to get your thinking off the beaten path.

Thu, 28 Aug 2014 22:00:00 -0500

There are five interesting parallels between these two worlds that can help your staff close deals.

Thu, 28 Aug 2014 21:30:00 -0500

They're young and already changing the status quo. Discover and follow these four young entrepreneurs as they rise up.

Thu, 28 Aug 2014 21:00:00 -0500

Using software to develop leads can be effective, but keep four things in mind when forming a strategy.

Thu, 28 Aug 2014 20:30:00 -0500

The influence of a single customer's opinion will continue to grow in sync with the pervasiveness of social media.

Thu, 28 Aug 2014 20:00:00 -0500

Small businesses may think they have a disadvantage when it comes to competing against the big guns but one place they can shine is in delivering exceptional customer service.

Thu, 28 Aug 2014 19:54:00 -0500

Throwing curveballs during job interviews can help weed out candidates who possess valuable critical thinking skills.

Thu, 28 Aug 2014 19:35:00 -0500

It’s back-to-school season. Here are the leading universities producing the most VC-backed graduates.

Thu, 28 Aug 2014 19:35:00 -0500

In the latest lawsuit that attempts to define the line between independent entrepreneur and employee, the court ruled that FedEx Ground drivers are employees, not independent contractors.

Thu, 28 Aug 2014 19:30:00 -0500

If you can launch a product with limited funds, investors will take you seriously. Follow this advice to up your chances.

Thu, 28 Aug 2014 19:15:00 -0500

Viewing habits and advertising trends are poised for a dramatic and sweeping change.

Thu, 28 Aug 2014 19:00:00 -0500

Not all accelerator programs are created equal. Follow this list of do's and dont's to make sure you find the right one for your company.

Thu, 28 Aug 2014 18:45:00 -0500

Brad Pitt and Angelina Jolie’s secret wedding ceremony offers surprising insight into business success.

Thu, 28 Aug 2014 18:00:00 -0500

People want to talk with a person they trust before making the buying decisions that matter most.

Thu, 28 Aug 2014 17:30:00 -0500

People ignore sales pitches but love stories. Happily, it costs little to tell potential customers the story of you, your business and what you offer.

Thu, 28 Aug 2014 17:00:00 -0500

There's a secret to working with your spouse -- and it's not denial.

Thu, 28 Aug 2014 16:30:00 -0500

The heads of some of America's biggest companies divulge their personal and work habits.

Thu, 28 Aug 2014 16:15:00 -0500

Samsung and LG have announced new smartwatch launches on the heels of reports that Apple will unveil a long-awaited wearable on September 9.

Thu, 28 Aug 2014 16:00:00 -0500

You do not need to be a meth kingpin to know something about building an empire, but you could definitely learn from one.

Thu, 28 Aug 2014 15:57:00 -0500

Talk about a pivot. Sanrio received a boatload of publicity yesterday with the revelation that Hello Kitty is not, in fact, a cat.

Thu, 28 Aug 2014 15:30:00 -0500

There is a generational divide in how we view the value and depth of our co-workers.

Thu, 28 Aug 2014 14:49:00 -0500

The social network tries again to sell us on using its standalone messaging app.

Thu, 28 Aug 2014 14:30:00 -0500

Your startup's online presence has huge implications for winning funding and making sales. Listen to those who've learned the hard way.

Thu, 28 Aug 2014 14:15:00 -0500

This founder of a doggy boarding and daycare franchise uses apps to store passwords, stay connected to her workout buddies and handle travel plans.

Thu, 28 Aug 2014 14:00:00 -0500

Our society values skills, but everyone is obsessed with results. The problem with this is that it can become easy to get trapped focusing on results when you should really be building your skills.

Thu, 28 Aug 2014 13:00:00 -0500

How to deliver content and resources that your target audience will find valuable.

Thu, 28 Aug 2014 13:00:00 -0500

A new report predicts the dental sector will lead the growth in commercial 3-D printing over the next decade.

Thu, 28 Aug 2014 12:30:00 -0500

Some careful questioning to explore when employees recall being most enthused will tell you, and them, how they can be motivated on the job.

Thu, 28 Aug 2014 12:00:00 -0500

Four big ways to get responses from people the popular and famous.

Thu, 28 Aug 2014 11:30:00 -0500

Two franchisees spill on how they managed to make this fast-casual staple catch on in New England.

Thu, 28 Aug 2014 11:00:00 -0500

Public companies have much to gain from the power of video to showcase their executives and their message.

Wed, 27 Aug 2014 22:30:00 -0500

Context, the sharing economy and big data are worth considering when strategizing about how to scale a small company.

Wed, 27 Aug 2014 22:00:00 -0500

For entrepreneurs to succeed, they need to figure out consumers' needs and develop a product to solve these issues. Here are a few steps to help you determine product-market fit.

Wed, 27 Aug 2014 21:50:00 -0500

Scott is looking to wipe out the competition with an environmentally-friendly brand of toilet paper that cuts down on the 17 billion cardboard tubes it says are thrown away each year.

Wed, 27 Aug 2014 21:30:00 -0500

Keep your audience entertained with a video or photo that they want to see.

Wed, 27 Aug 2014 21:27:05 -0500

Why I proudly agreed to be part of the U.S. State Department's Speaker and Specialist Program to export entrepreneurism.

Wed, 27 Aug 2014 21:06:00 -0500

Target, Nordstrom and other big-name brands are using Curalate's latest feature to make their Instagram feeds more 'shoppable.'

Wed, 27 Aug 2014 21:00:00 -0500

The right time to become a better leader is today, tomorrow and every day that your team relies on you.

Wed, 27 Aug 2014 20:30:00 -0500

You need to influence people even before they get to your landing page by convincing them of the value you're offering.

Wed, 27 Aug 2014 20:06:00 -0500

This latest round of funding values The Honest Company, a maker of eco-friendly family and baby products, at close to $1 billion.

Wed, 27 Aug 2014 20:00:00 -0500

Both methods have advantages and drawbacks, and could determine how you file your taxes.

Wed, 27 Aug 2014 19:53:00 -0500

New research reveals that while we're all scared asking for advice will make us look like incompetent fools, it actually has the opposite effect.

Wed, 27 Aug 2014 19:39:00 -0500

The criticism of Uber's disruption of Lyft is misplaced. We should all be so competitive.

Wed, 27 Aug 2014 19:30:00 -0500

Research has shown that employees are spending time managing their teams instead of working, which cost companies big.

Wed, 27 Aug 2014 19:00:00 -0500

Naive optimism fuels the dream of building your own company but when you launch, it is time to get real.

Wed, 27 Aug 2014 18:58:00 -0500

A new online service aims to find accommodations for brave, broke college students who are traveling.

Wed, 27 Aug 2014 18:39:00 -0500

While the company's penchant for cancelling rides has been well-documented, the practice -- until now -- has remained largely misunderstood.

Wed, 27 Aug 2014 18:30:00 -0500

Consumers are, so far, unmoved by the prospect of the hyper-connected home and won't be until the technology is as easily used as a smart phone.

Wed, 27 Aug 2014 18:06:00 -0500

Vani Hari has already convinced Subway and Chick-fil-A to make big changes. Now, she's taking on Starbuck's favorite fall drink.

Mon, 01 Sep 2014 21:51:00 -0500

'Sext abstinence education' is about as effective as telling people not to have sex before marriage.

Mon, 01 Sep 2014 17:34:00 -0500

Personal improvement educator Stephen Covey originally wrote The Seven Habits of Highly Effective People back in 1989. Since that time his approach to attaining goals effectively has been reimagined and reinvented for an infinite variety of disciplines and behaviours -- so why not big data analytics? With so much discussion currently [...]

Mon, 01 Sep 2014 14:05:00 -0500

As most of you probably know, someone somewhere dumped a deluge of purported nude photographs of a number of female celebrities online yesterday. The victims include the likes of Kate Upton, Victoria Justice, Ariana Grande, Kirsten Dunst, Mary Elizabeth Winstead, Krysten Ritter, Yvonne Strahovski, and Teresa Palmer. But the focal [...]

Mon, 01 Sep 2014 13:00:00 -0500

The biggest challenges you will face buying the new iPhone 6 are not the ones you think.

Mon, 01 Sep 2014 12:40:00 -0500

According to a Gallup poll, the working week in the United States is almost a full working day longer than standard. While the 40 hour week is generally accepted as "normal," adults employed full-time have reported working an average of 47 hours each week. This number has remained relatively steady over [...]

Mon, 01 Sep 2014 02:44:00 -0500

Within hours of the breach today, Twitter announced that it is suspending accounts that share the celebrity nude photos; do you really think that you will get the same treatment?

Mon, 01 Sep 2014 02:15:00 -0500

People are innately wired to avoid risk. During times of times of change and uncertainty, our risk aversion is amplified. Yet the number one way to gaining competitive edge is by creating a culture where people feel safe and emboldened to innovate and challenge the status quo thinking. The first key to creating a 'culture of courage' is leading from possibility, not probability.

Fri, 29 Aug 2014 17:22:00 -0500

Can a multi-level marketing or network marketing business be the solution to the retirement savings crisis and help people make a successful transition into their retirement year? The answer will surprise you

Wed, 27 Aug 2014 20:53:00 -0500

For an executive, few skills are more valuable than being able to successfully assemble and direct large teams for important projects. Team building isn't easily taught but it can be learned. The good news is, all organizations need it - and once you learn to do it well, you'll likely always be of value to your company.

Wed, 27 Aug 2014 03:34:00 -0500

Here are three key ways your customers have changed (perhaps while you weren’t looking), and one way that your customers and their desires haven’t changed at all. To thrive, your customer service and customer experience need to adjust to these changes, while embracing the constancy of customer desires as well.

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Chaldeans Buying Businesses Need to Beware
By Bedre Konja :: Monday, January 28, 2008 :: 10323 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.