If you or your company has any business interests that tie into internet marketing and the promotion of your website, then you need to hop on over to Andy Beal’s www.MarketingPilgrim.com. On a daily basis, you can expect to find a combination of internet marketing news stories, useful tips, and some strong opinions on an assortment of relevant topics. We have been following Andy Beal’s thoughts and opinions on internet marketing well before the launch of Marketing Pilgrim, tracing back to his days at Search Engine Lowdown; so take it from us, he knows his stuff and will give some great insight beyond mere facts & rehashed news stories.
As a business owner, do you have a succession plan? If you answered no, please take a moment to read this fantastic article which was featured on Canada.com.
In a nutshell, this piece emphasizes the importance of succession planning and business valuation when the unexpected illness or death of a business owner takes place. In the example used, the owner’s wife was left to keep the business affairs in order amidst competitors trying to buy it for pennies on the dollar once the owner passed accompanied by a number of other stressful events. A business valuation became a life saver to this company and the heirs of the previous owner’s estate.
A CNN Money article hits retirement concerns head on. We’re all well aware now of the growing baby boomer generation and the significant impact it will have on our society. Some of the assumptions, fears and hot topics are successfully addressed in this article.
Some of the key topics covered and explained include:
- Big Nest Eggs
- How to manage your 401K
- Is $1 million enough?
The Washington Post summarizes a recent survey that evaluated Exit Planning and the small business owner. The study was underwritten by Massachusetts Mutual Life Insurance and released by the Center for Women’s Business Research.
Key findings were that 67% of men & women surveyed did not have a sales plan and nearly 50% had never conducted a business valuation. Conclusions from the survey indicate that female business owners are more focused on the future success of their company’s under a new owner based on that buyer’s personality and future vision for the business, than are men.
Starting November 12-15, 2007, a fantastic conference will take place in Cleveland, OH called “The Big Makeover”. It is a spin off of the TV hit “Extreme Makeover: Home Edition” where one lucky business owner will have their entire company reconstructed from top to bottom, bottom to top — FREE! A select group of 250 CEO’s, Presidents and business owners will be invited to Cleveland, OH November 12th – 15th to watch the selected company be completely overhauled, and in so doing, will actively learn how to apply the same techniques and strategies to their own businesses.
Many pundits are indicating we are in a seller’s market as there is lots of investment monies and active entrepreneurs looking to buy existing companies. If you are a small business owner considering the sale of your business, here’s a quick list of 10 essentials to selling your business:
- Commitment to selling - don’t waver on the decision
- Bring in professionals - hire a business valuator & business broker; talk to your lawyer & CPA
The rise of YouTube has spawned a new, very effective medium for online advertisers to promote their products through the use of video. Promotional videos go way beyond YouTube though. If you are a small business owner seeking to increase your company’s market exposure through word of mouth, viral marketing techniques then video is a sure fire way to do it. Is it guaranteed success? NO. With that said, creating videos that show of your product, reiterate your subject matter expertise, and/or express your benefits to the end user is certain to increase customer confidence in your business. The creative side of this business is key, in order to reach and connect with your targeted customers.
The Center for Media Research just released a study, conducted by ThirdAge, Inc and JWT BOOM, that indicates 40+ year olds are hip to the internet as nearly 75% have Broadband internet in their homes. The group labeled as “Third Agers” is defined as baby boomers and mid-lifers ranging in age from mid 40’s through mid 60’s.
Selling a business can be a very complex, time consuming and daunting task. We highly recommend that you do not cross this chasm alone, but seek out professional advice and expertise. While typical roles include that of a business appraiser, business broker, lawyer and possibly your CPA, there is one other professional specialist you should really seek counsel from: your financial advisor.
Entreprenuers must continually invest in themselves with golden nuggets of insightful information and tips. Learning from other seasoned entrepreneurs who have been successful in their own ventures and are giving back to like-minded business owners can be invaluable! Seeking self-improvement is a huge investment back into your business, its employees, services & products, growth and consequent value.
