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Selling a business has many moving parts and as a result is very complex. Here are 5 suggestions that may make the task easier.
1. Get a professional third party valuation
This may sound obvious but naturally the seller wants as much money for the business as possible and the buyer wants to ... Views: 1670
by: Geoff Ficke
One of the great benefits we enjoy about the consulting work we do is having the opportunity to review the inventiveness of hundreds of entrepreneurs each year. It truly is amazing how many of these creative talents push the envelope of novelty. There is no such reality as the ... Views: 1407
by: Geoff Ficke
Almost every living individual is being effected adversely in some way by the international economic meltdown we are experiencing today. The genesis of this severe financial downturn is attributed to the United States government encouraging the expansion of homeownership to ... Views: 1980
by: Geoff Ficke
Modern travelers take the open road for granted. We can hop into exquisitely engineered modern vehicles, pop onto smooth, straight freeways, well lit, with excellent signage and many roadside conveniences. We can cover as much ground as we might like in any direction, in ... Views: 2017
by: Geoff Ficke
Successful entrepreneurs are people that always see opportunity in any situation. By nature they are positive and constantly seek innovations that address wants and needs that they identify in their contemporary environment. Currently we are in a dark economic period, and this ... Views: 2493
by: Geoff Ficke
One wintry night in 1933, Percy Shaw found himself driving his automobile on a remote country road in England. The night was moonless; the fog hung densely and there was a persistent mixture of rain and snow belting against his windshield. The road was little more than a lane, ... Views: 2638
by: Geoff Ficke
As readers of my articles well know, I run a marketing and product development-consulting firm. We review hundreds of novel consumer products, new service concepts and prototypes each year. The level of creativity contained in some of these offerings is truly stunning and ... Views: 1272
by: Geoff Ficke
We take the simplest devices for granted in our modern technologically advanced world. We turn a tap and water is delivered, hot, temperate and cold. We hit a wall switch and darkness is overcome by light. We open the refrigerator door and peer into a compartment that contains ... Views: 1410
by: Geoff Ficke
Prospective entrepreneurs are always encouraged to think outside of the box when striving to commercialize their idea for a new business. The ability to see things differently and identify a niche for a product is so essential. Unfortunately, there is no book, course or advice ... Views: 1134
by: Geoff Ficke
Recently, Michelle Obama famously commented that for the first time in her life she was proud of her country. Her remarks were widely critiqued and rightly so, as she is potentially the next First Lady of the United States. Her delayed burst of enthusiasm for the land of her ... Views: 1175
by: Geoff Ficke
I have written in the past about the huge commercial opportunities afforded divergent products and inventions, as opposed to convergent features added to existing products. Divergent products are truly groundbreaking, destructive, disruptive breakthroughs. However, very few ... Views: 1294
by: Geoff Ficke
William Shakespeare” famous quote from Hamlet, “When sorrows come, they come not single spies, but in battalions”, is particularly relevant today.
All of the news seems bad. The negative numbers are huge. The human devastation seems interminable. Governments everywhere seem ... Views: 1319
by: Geoff Ficke
One of the signal economic thinkers of the 20th century was the Nobel Prize winning economist Milton Friedman. His many books and papers, interviews and television specials have left us a valuable trove of thoughts and observations that should serve as guideposts during our ... Views: 1195
by: Geoff Ficke
Many of the inventors and entrepreneurs we deal with in our consumer product marketing business approach us with dreams of selling product to the masses. This can be lucrative and a proper launch strategy in cases where all of the stars in the galaxy line up properly. How ... Views: 5097
by: Geoff Ficke
For most of history natural and man made disasters were treated as simple “Acts of God”. After the event, the effected populations were left to fend for themselves. They rebuilt their lives as best they could but there was no agency or provider that could be approached for ... Views: 1735
by:Geoff Ficke
Virtually every modern household has a basic wheelbarrow stored away. The use of the wheelbarrow is ubiquitous in construction and basic home chores. The design, form and function of the wheelbarrow has not appreciable changed for 700 years. And yet, this simple tool is one of ... Views: 3390
by: Geoff Ficke
As we slog along under the full weight of the current financial calamity, there is much weeping and gnashing of teeth about the future of the United States. Many of our countries fiercest enemies and critics are gloating over their perception that our wave has crested and we ... Views: 1363
by: Geoff Ficke
Cement is the most widely used building material in the world and has been for thousands of years. The historical record confirms that the ancient Persians, Assyrians and Babylonians used cement in the binding and affixing of mud bricks. The Egyptians also used cement in ... Views: 2107
The world is currently fixated on the international credit crisis and the role banking has played in this debacle. We take it for granted that commerce flows quickly and accurately across borders and frontiers. A resident of Maine can purchase a tank of gas at home, or in Italy with the same ... Views: 2657
by: Geoff Ficke
One of the most illuminating professional experiences of my life was my first visit to the elegant center of British Bespoke male haberdashery, Saville Row in London’s exclusive Mayfair district. I was a young man, just starting my career in the international cosmetic business ... Views: 1121
Corporate social responsibility (CSR) is no new concept for companies that strive to achieve and sustain competitive advantage with moral management. If experts are to be believed, CSR will always be a vital part of the corporate agenda, regardless of any serious market fluctuations. According ... Views: 850
Are you trying to sell your business, and quickly? Check out these tips as they may help you achieve your goal.
1. Have a reasonable listing price.
2. Be prepared to negotiate.
3. Have a folder of information readily available for a qualified buyer.
4. Run the business as usual.
5. Make ... Views: 1330
by: Geoff Ficke
I am always amazed when I see well educated, seemingly worldly people make themselves look and sound silly by promoting ever more aggressive expansion of government. We are currently in our national election cycle, admittedly the silly season for politicians. This year, ... Views: 1333
by: Geoff Ficke
In early 20th century America the vast majority of people living in rural areas eked out a living in agriculture. Farms were small, often sharecropped. The planting and harvesting was labor intensive and horses provided the only source of energy for mechanized tilling. The ... Views: 1932
by: Geoff Ficke
As a young, struggling college student in the 1960’s I became entranced with the life, philosophy and writings of the great American thinker Eric Hoffer. Hoffer’s life story was almost mystical, his thinking so lucid and the concepts he presented were so fresh that I could not ... Views: 2214
by: Geoff Ficke
Any reflective student of history is often amazed at the products and processes invented and discovered in the ancient world that we take for granted today. Paint, gunpowder, weaponry, cement, the arch, beer, silk, papyrus, champagne, and so many others remain at the center of ... Views: 1760
One of the great entertainment values available to almost anyone with a cable television service is the History Channel. The volume and quality of wonderfully instructive and entertaining programming on offer is amazing. I have never watched a reality show, or a celebrity dancing display, but I ... Views: 1192
by: Geoff Ficke
My Company routinely reviews more than 600 new product ideas, concepts, prototypes and models during most years. During a soft economy, such as today’s, we see even more as people become more desperate to chase a dream. Pursuit of the “American Dream” almost always involves ... Views: 1445
by: Geoff Ficke
One of the qualities that we look for when evaluating prospective clients for our consumer product marketing consulting firm is PASSION. If an entrepreneur is not passionate about the product or business idea they are attempting to commercialize we cannot help them. Passion is ... Views: 1425
by: Geoff Ficke
Each week we receive a number of unsolicited business proposals in our marketing consulting business. Some are submitted by mail, some by e-mail and a number are the result of phone contacts. We have developed a methodology of quickly weighing the commercial viability of each. ... Views: 1131
What is the meaning of liquidation? That is a good question!
Since the economy started to tumble it feels like we have been bombarded with the word liquidation in so many different contexts applying to every business possible. Still, I am not sure we all fully understand what it means to ... Views: 1440
by: Geoff Ficke
In the modern world we take for granted the availability of innumerable sources providing accurate measurements of time. Telling current time is so readily available that we have lost sight of the profound importance of knowing time, to the hour and minute. For most of human ... Views: 716
by: Geoff Ficke
One of the greatest literary and science works of the ancient world, rarely studied today, was the Opus Majus. The amazingly futuristic content of the Opus Majus was virtually a modern tutorial, written in the 13th century, on an array of literary, scientific and philosophical ... Views: 1440
by: Geoff Ficke
In 1930, a young engineer was sent by his supervisor to spend time working on the floor of a Minneapolis auto body shop. The reason for the working visit was to review the performance of his employer’s principal product, industrial grade sandpaper, in actual use as a car door ... Views: 2152
Masterminds bring a two or more people together for a common purpose and betterment of each other. Masterminding lets businesses, business owners and others network, brainstorm, and connect to help improve their businesses.
Some direct benefits of masterminding….
Specialized Knowledge: No ... Views: 1753
by: Geoff Ficke
This week I had the opportunity to launch a new product at the Juvenile Products Manufacturers Association’s annual trade show in Orlando. This is an annual fair that brings together the manufacturers of all size to present and introduce new wares for the youth market. As in ... Views: 1174
I am going to relate this true story out of a sense of frustration. Hopefully, my experience, and disappointment at seeing a wonderful opportunity torched by sloppiness, will enlighten others to maximize the chance to succeed in their chosen endeavor. Great ideas need to be properly fertilized, ... Views: 1198
The terms small business coach or business mentor are often used interchangeably within the business world, but what do people really mean when they talk about small business coaching or business mentoring? And how are they different from executive coaching or life coaching?
Countless ... Views: 1003
Have you ever stopped to realize that every time someone visits your website, you are representing yourself and your business? Regardless of your talents or your contribution to the world, your website content writing should reflect well on you, your products and your services. In other words, ... Views: 1270
We give mice in a cage a wheel to play on to amuse them, its called a treadmill. Politicians and successive governments have done exactly the same for us. We are all on a tread mill and it seems that if we stop things will go wrong, so we are conditioned to keep running and we are also taught ... Views: 1362
Asset Protection Strategies
If you have valuable assets under your name, you must definitely look for asset protection strategies. These strategies protect your assets from major threats. The business world is very strange and some puzzling happenings may result in jeopardizing of all your ... Views: 818
During this recession period running a medium or small business establishment successfully is really a challenging task. CEOs of the business enterprises find it very difficult to run the show due to the lack of skilled, sincere, dedicated and honest employees for lower pays .Paying higher ... Views: 823
I spent the past two days (May 28 – 29) at Bentley University outside of Boston attending the first Conceptualizing Conscious Capitalism conference, which is intended to be a precursor to the Conscious Capitalism Institute. The event, produced by Professors Raj Sisodia of Bentley (co-author of ... Views: 743
Is your company sitting pretty? Execs out there might be sure that the one thing they don't have to worry about these days is turnover, but I am afraid they are sadly mistaken. There is something lurking in the shadows of their board rooms and break rooms. Although execs and HR directors may ... Views: 948
There are two kinds of businesses in this kind of economy. There are those who sit on the sidelines and wait for the economy to turn and there are those who scramble to make the best of the situation. I interviewed a number of companies to determine: 1) what are the biggest issues facing them in ... Views: 1442
I've worked with a few dozen Fire Starter clients in the past few weeks on career optimizing, transitioning, start ups, reinventions, product ideas, social media strategies and balancing it all without burning it out. {And I adore each and everyone of you. I'm thinking about you all right this ... Views: 1409
One of my beloved uncles just passed away. I asked my cousin-in-law, “How’s Beth coping with the loss of her dad?” He replied, “She’s doing fine. She’s already gone through the grieving process.” Later I asked Beth directly, “How are you coping with your loss?” She sighed, “I haven’t ... Views: 1400
Pamela Busch owns a restaurant in San Francisco. Like everyone else, she felt the pinch of the economic downturn as people stopped going out to eat. She decided to adapt by offering a three-course tasting menu at a set price.
Great. Her desired outcome is to stay in business. She’s accepted ... Views: 1720
There are hundreds of thousands of business plans floating around and attempting to find a funding home. I receive hundreds of business plans annually myself, and can definitely state that 99% of these documents are laughable as presentations of an exciting investment opportunity. I am not ... Views: 1375
Several years ago my marketing consulting firm reviewed a most clever, novel, exceedingly commercial concept in casual footwear. We met with the designer who had created the collection and were excited by everything we saw in the initial presentation. The footwear possessed a universality of use ... Views: 1177