Check out my new listing spotlight...

"Ring in the New Year with a Wealth of Business Opportunities!"

http://myemail.constantcontact.com/Ring-in-the-New-Year-With-a-Wealth-of-Business-Opportunities-.html?soid=1102697469706&aid=pHY_QvjxSZ4

Check out "Top 10 Reasons Small Businesses Fail" from the New York Times

Top 10 Reasons Small Businesses Fail
By Jay Goltz
New York Times, You're The Boss
January 5, 2011

One of the least understood aspects of entrepreneurship is why small businesse fail, and there's a simple reason for the confusion" Most of hte evidence comes form the entrepreneur themselves.

I have had a close-up view of numerous business failures - including a few start-ups of my own. And from my observation, the reasons for failure cited by owners are frequently off point, which kind of makes sense when you think about it. If the owners really knew what they were doing wrong, they might have been able to fix the problem. Often, it's simply a matter of denial or of not knowing what you don't know.

To read the full article and see the top 10 reasons, which might surprise you... click here.

Hey all, check out "7 Ways to Finance a Small Business" from BusinessNewsDaily

7 Ways to Finance a Small Business
By David Mielach, BusinessNewsDaily Staff Writer
Nov. 30, 2011

The road to starting a successful business can be a long one, filled with many hurdles and obstacles along the way. Even if you have a great business idea, no business can succeed without a financing plan. While the process may sound daunting, there are many small business financing options for anyone thinking of starting their own business in 2012.

• Small Business Administration Loan
• Friends and Family
• Home Equity Loan
• Credit Cards
• Angel Investors
• Venture Capitalists
• Strategic Investors

To learn more about each option, including advantages and disadvantages... click here to read the full article.

Check out this great article from nightclub.com

VIBE newsletter
www.nightclub.com

Mimi's Cafe's Value Revolution
By: Alissa Ponchione
November 14, 2011

When it comes to happy-house specials, every operator thinks their happy hour is not only the best but also offers the most value. However, the executives at Mimi's Cafe claim that theirs is the happiest. Launching its "Happiest Hour" promotion, the Irvine, Calif. based Mimi's Cafe is offering small bites and wine flights every day of the week. Chief Concept Officer Mark Mears says taht at 145 locations, guests will be offered delicious treats and drinks - all part of Mimi's Revolution strategy.

To learn more, read the full article... click here.

Check out A 'Match.com' fr entrepreneurs and lenders from crainsnewyorkbusiness.com

crain's new york business.com
By: Elaine Pofeldt
October 18, 2011

BoeFly aims to aid businesses disappointed by their banks, but there's new competition in this financial services niche.

The Company: BoeFly
What it Does: It's an online marketplace matching small business borrowers with lenders around the country.
How's It Doing: Founded in 2010 by two finance industry veterans, the Manhattan-based site is generating nearly $150,000 in revenue a month. It has raised $4 million from private investors. The founders expect it to become profitable in 2012.

To learn more about BoeFly... read the full article... click here.

Check out Best Practices: Six Steps to Effective Facebook Posts from Nightclub & Bar

Business Sherpa: "Hey check this out bar owners - this is a great article on using Facebook to increase traffic and revenue to your bar!"

VIBE Newsletter
www.nightclub.com
October 17, 2011
By: Dave Dronkers

According to Facebook, more than 1 billion pieces of content are shared on the social networking sites each day! This presents a huge challenge in trying to get Facebook visitors to engage with your brand and your beverage program.

How have some restaurant companies figured out how to move from "broadcast" mode into "engagement"? How have they engaged people so well that their fans invite others along for the viral ride? You and your team may or may not be directly involved in social media marketing, however, it's important to understand how to execute it properly so it reaps the greatest rewards - traffic and sales - for your drink program.

To learn more, read the entire article... click here.

Check out my latest Listing Spotlight...

Are you looking to buy a business... check out Larry's Listing Spotlight...
click the image below or click here to view...

Check out "Five Ways to Go From Owner to Employee"

This blog article by Sarah Needleman at The Wall Street Journal (WSJ.com) is a must read if you are planning to sell your business at any point in the future.
Five Ways to Go From Owner to Employee

If you're planning to sell your business, you may need - or even want - to stay with the company for a while afterward as an employee. But without careful planning, transition can fall flat.

In one extreme example, Michael Arrington announced on Monday he was leaving the technology blog he founded in 2005, TechCrunch, a year after its sale to AOL for $30 million. He initially remained with the publication as its editor but in recent weeks tension mounted between Mr. Arrington and AOL, resulting in his departure. (For more, please read Founder Departs TechCrunch Blog Over Spat with AOL."

Here are five ways to ensure a smooth transition from business owner to employee, according to Needleman's blog...

- Address conflicts of interest
- Put your ego in check
- Anticipate big changes
- Set a termination clause
- Request a board position and equity

To read the full article and more detail on each way to smooth transtion, click here.

Check out "The hottest spots across the country for starting a new business"

"Indianapolis made it onto the list... check us out!"  Larry

Where the Action Is
Across the country, new industry hubs are drawing entrepreneurs and investors - and offering start-ups support and safety in a turbulent economy

The Wall Street Journal
WSJ.com, August 22, 2011
By Emily Maltby

Location Matters.

It's a lesson that's all too easy to forget in a world driven by mobile devices, cloud computing and home offices. There are big benefits to setting up shop in the right spot - especially among lots of peers in the same field.

Just ask sports-gear makers in Ogden, Utah. Or health-care companies in Nashville. Or nanotechnology researchers in Albany, N.Y.

These cities, and others like them across the country, have become hubs for specific industries. Entrepreneurs are moving there and flourishing  in the teeth of a bleak economy. The cities, in turn, are nuturing the entrepreneurs by giving them access to funding, mentors and facilities.

All in all, these clusters can be ideal spots for an entrepreneur in the field. Being there means getting access to a much wider range of suppliers, customers, employees and industry experts. What's more, industry peers are often willing to support each other as they get off the ground, sharing recommendations about staffers, potential sales leads and attractive office space, or giving each other guidance and insight about the industry...

The article continues and gives a look at seven up and coming innovative centers. Indianapolis is listed first, as a Life Sciences center... read the full article to learn more. Click here.

Check out ""Small Business Administration is an unnecessary, costly agency"

Interesting....

The San Francisco Examiner
sfexaminer.com
By: Tad DeHaven - Special to the Examiner
08/18/2011

Washington continues to entrust stale bureaucracies with the job of righting the economic ship, instead of getting the federal government out of the way. One of those bureaucracies is the Small Business Administration, which has been employed by Congress and President Barack Obama to reignite private-sector lending.

The SBA does this by guaranteeing loans issued by private lenders for up to 85 percent of losses in the event that loan recipients default. As a result of the guarantee, lenders are more willing to lend money to riskier applicants because the SBA - and thus taxpayers - is ultimately responsible for the bulk of any losses.

to read the full article... click here.

Check out... Big Banks Shrinking As SBA Lenders

www.boss.blogs.nytimes.com
You're the Boss: The Art of Running aSmall Business
By: Robb Mandelbaum
08/10/2011

The Small Business Administration's guaranteed loan program is back. Nudged by stimulus provisions that reduced fees and increased guarantees, American banks made a record amounf of S.B.A. backed loans in 2010 (measured in dollars), reversing a demoralizing four-year slide. But there's something noteworthy about who was doing that lending: while banks as a whole loaned more government-backed money than ever, the biggest banks loaned less.

The 25 American banks with the most deposits in 2010 underwrote $3.6 billion in S.B.A. general business, or 7(a), loans. That is just 20 percent of all 7(a) loans approved that year, down nearly a third from the share these same banks loaned in 2006. The decline cannot be tied to a decline in deposits. In that same period, these banks grew to control $5.8 trillion in deposits, 61 percent of all bank deposits in 2010.

In other words, in 2010 the 25 biggest banks held 32 percent more in deposits than those banks did in 2006 - but approved 30 percent less in S.B.A. loans...

read the rest of the article... click here.

Check out "Keep Your Bar Successful by Tracking Inventory."

"Hey bar owners, or those interested in being bar owners, check out this great article on tracking inventory..." - Larry

Tracking Inventory: A Profit Paper Trail
Nightclub & Bar (www.nightclub.com)
August 15, 2011
By: Robert Plotkin

To be financially successful, you need to know what inventory you have, how much you paid for it and exactly where it is at any point in time. Tracking products throughout your operation doesn't necessitate purchasing high-priced software. Instead, it requires implementing a series of overlapping internal systems that in concert track every product through the inventory cycle. In bookkeeping jargon, it's referred to as "cradle-to-grave" accounting. While uncomplicated, they key to the system is ensuring that all of the components are in place and being used properly.

To read the full article... click here.

Want to know how to build repeat business in your bar.. check out this great article from Nightclub & Bar

Check out this great Editor's Blog from Nightclub & Bar on how to build repeat business?

Seven Steps to Building Repeat Business
By Robert Plotkin
August 2, 1011

Want to quickly double the volume of business you're currently doing at the bar? Gimmicks and slick promotional schemes won't get you there. The only tried-and-true way to accomplish your goal is to convert first-time visitors into regular clientele. Regulars create a sustainable residual income that you wouldn't have realized otherwise, often providing the financial boost needed to keep the doors open. Every operator likely shares the same ambition: to become a popular destination venue.

Building a loyal core of repeat guests depends entirely on doing a great job the first time those people come in; today's regular guest was yesterday's newbie. There are seven key steps to building repeat business.

To read the full article and find out what those seven steps are... click here.

Check Out "Buying An Established Business"

Check out this great article by The Wall Street Journal... it aptly summarizes the reasons that purchasing an existing business is sometimes better...

By: Sarah E. Needleman
July 31, 2011
Accidential Entrepreneur, WSJ.com

Last year, Mark Shelstad set to become his own boss after concluding that his portfolio-manager job had become unstable. But instead of trying to build a company from the ground up, the Chicago-area resident began searching for an existing one he could buy.

"I didn't have a creative idea worthy of starting a business from scratch," says Mr. Shelstad, who is in his mid-50s. Also, "I wanted to get up and running quickly due to my age."

After a few months of research and negotiations, Mr. Shelstad earlier this month purchased a 23-year-old lending-fraud investigation firm, which he renamed Armitage Investigative Services. He used a combination of personal savings and a five-year loan form the seller to cover the purchase price of more than $1 million.
If you're interested in entrepreneurship, but lack ideas or time to create a new business, buying an established company may be a wise alternative. You'll inherit a working infrastructure complete with resources you'd otherwise have to secure on your own, such as equipment and employees. You'll also ideally be taking over a known brand built on a positive reputation over many year's time.

To read the full article... click here.

Startup Costs Calculator...

If you have every wondered what the difference would be between Startup costs and purchasing an existing business... here is a great tool from the Wall Street Journal online (WSJ.com).

Startup expenses are one-time expenses that occur before you can open your doors for business and start selling your product or service. Expenses are money you pay for services, like legal expenses, or design services, or rent - intangible things that you don't get to keep. Expenses reduce your taxable income, but cannot be depreciated over time. After startup, expenses are accounted for in our profit & loss table.

To learn more... and calculate your possible startup costs... click here.

Inventory: A Key Component to the Business Sale

Written by Ralana D. Shelley, CBI March 28, 2011 Article 5 in the "Prepare Your Business For Sale: Everyday Business Issues" series... One of the most overlooked but important issues in the health of any business is inventory. Inventory plays a pivotal role throughout its entire lifecycle, from purchase to storage to sale. It is just as important how inventory is kept and sold as who it is bought from, how much is paid for it, and how much one can charge a customer for it. Below are three key issues to consider about inventory and how it affects the health and future sale of your business. Inventory Accounting... Once a business has purchased its inventory, it becomes important how that business is going to handle it. How quickly or slowly it is turned over can have a direct impact on business value... To include in the purchase price or not to include... Most businesses offered through an intermediary will clearly state up front whether inventory is included in the purchase price, or whether it is in addition to the price... Counting Inventory at Closing... There are basically two ways to count inventory before closing... Inventory is not so simple when considering its impact on the value of a business both while running it and while trying to sell it. It is certainly somethign to handle and track carefully, and prepare it you are thinking of selling your business now or in the future. to read the full article and learn more about inventory's impact... click here.

Top 10 Dying Industries

WSJ.com, WSJ Bogs - Real Time Economics
By Phil Izzo
March 28, 2011

The U.S. Economy is recovering from a severe recession, but some industries are unlikely to ever fully bounce back.

A new analysis by research firm IBISWorld looks at 10 industries that appear to be dying. The list isn't exactly shocking, but it represents a mix of sectors that are being left behind by technology or have been hurt by cheaper overseas competition.

The biggest industry profiled by IBISWorld is wired telecom carriers, largely being supplanted by cell phones and the internet. The dominance of the Web and digital media also puts Newspaper publishers, record stores and video-rental companies on the list. Meanwhile photofinishing also takes its place among the top 10 dying industries thanks to the growing influence of digital photography.

to read the full article, and see the rest of the top 10... click here.

How to Hold on to Key Employees (Article 4, Exit planning series)

Courtesy of SunbeltMergers.com
During a company merger, the devil is in the details. Identifying key employees and employment issues early on can facilitate a smooth deal. And a communication plan can help prevent, for example, top-producing salespeople from defecting to competitors, decimating the company's customer base, and affecting its value.

It's important to offer employees incentives to stay, but you also need to anticipate potential legal issues. Plan now to put in place your protections to prevent employees from disrupting your deal, both before and after it closes.

to read the full article... click here.

And be sure to follow the next installment of our Exit Planning Series, Monday is about "Inventory."

Tips for Business Buyers: Selling Yourself - Seller Financing

Courtesy of Business Brokerage Press
Remember that when a seller offers seller financing, he or she is taking a risk. If you are the buyer, the seller is taking a risk on you, that you will be able to run the business successfully. Therefore, other than a seller needing the cash from the sale of the business, the biggest obstacle to seller financing is the seller's concern regarding whether a new owner will be able to pay off the loan from the profits of the business. While the seller already has the best idea about the potential profits of the business, there are some additional things a seller may want to learn about a potential buyer.

To read the full article... click here.

Exit Planning Series Article 3: Independent vs. Employee Status

The Big Question: Independent versus Employee Status

Are you workers independent contractors or employees? This is a compelling question, especially where the Internal Revenue Service is concerned. Every worker claiming status as a non-employee means payroll taxes and social security contributions that won't fall into the IRS's pockets.

Now many states are taking a closer look at the question, too. They are increasingly on the lookout for new sources of state revenue, including workman's compensation and unemployment insurance, both of which can be bypassed when a business uses independent workes.

to read the full article... click here.

And be sure to check out our Next installment in the Exit Planning Strategy series, Article 4: "How to Hold on to Key Employees" this Friday, March 25th.

Insurance: A Dull Subject Unless You Need It

Most business owners faithfully renew their business insurance policies every year, but how many actually review the policies on a regular basis? Unfortunately, too many of the business owners have never read the policies. This means, among other things, that they don't know whether the policies are continuing to adequately cover the changing needs of the business. For example, is the new expensive computer system covered? Are all the weather contingencies covered? Is the employee health coverage up to date with today's medical costs? Does your company have business interruption insurance? If so, when was the last time you reviewed it?

Now might be a good time to review all of your insurance policies...
especially if you are considering he sale of your business now or in the future.

to read the full article... click here.

Check Out: Groupon Has a Drinking Problem - Update 2

Forbes.com
Brendan Coffey
March 16, 2011

That $6 billion Groupon's Eric Lefkosky turned down from Google last year is probably looking a little better now.

The Massachusetts Alcohol Beverage Control Board, aka the no-fun guys, have told Groupon it appears to have been violating the state's laws on discounting booze since its inception. Here's part of the letter sent to the company in February, as reported yesterday by the Boston Globe:

"I am hopeful that the long-established, clear, bright lines of the boundaries of legality have not vanished in the rear-view mirror of entreprenurism driven by unbridled and imprudent, if not reckless, enthusiasm," william A. Kelley Jr., the commission's legal counsel, wrote to Groupon in the February letter.

That takes a bit of the shine off the discount deals, now that beer, wine and sangria are excluded from your $50 Groupon to Beefsteak Charlie's. Yesterday's deal for an Essex restaurant had a blodfaced "Not valid toward alcohol" on the offer.

click here to read the full article.

Do You Have a Plan?

While it may not be visible itself, a positive plan for the futre of the business is key to actually moving toward a positive future. Business owners should be prepared to spend what it takes to generate new business, and they should take time to explore new possibilities for long-range success.

If the company currently has no mission statement, creating one will be evidence of he owner's enthusiasm for the future and for the ongoing success of the operation. If the company has a mission statement that no longer fits current conditions and needs, it may be time to revisit and revise the statement.

To write/rewrite your mission statement, here is a great article from Entrepreneur.com... "How to write your mission statement."

Now, prospective business sellers, be sure to watch my blog on Mondays and Fridays for the next several weeks, as I will be covering several issues to consider in the everyday running of your business. Issues that will help you prepare for an eventual sale, or at the least help you have a more profitable, well organized and forward thinking business.

How to Finance an Acquisition

The credit crunch has led to an increase in seller financing, asset-based lending and alternative sources of capital for buyers.

By Carolyn Brown
Inc.com, Jan 2011

In pursuing an acquisition there are always key items to consider such as the continued growth opportunity provided by the target company, purchase price, and financing terms. Many acquisitions fail due to these priorities not being in line, say M&A experts. For instance, a common mistake buyers make is to focus on an attractive purchase price, rather than the strategic importance of the company's present and future growth plans.

Securing capital and the best financing terms for an acquisition can be daunting and challenging. The sub-prime lending crisis and sluggish economy over the past 24 months has created huge changes in our financial system.

to read the full article... click here.

Check Out: New small business loans approved in 'minutes'

CNNMoney.com
By Catherine Clifford, staff reporter
December 15, 2010

New York (CNNMoney.com) -- The Small Business Administration announced two new lending initiatives on Wednesday aimed at getting relatively modest loans to small businesses quickly.

The idea is to get loans under $250,000 into the hands of small businesses efficiently: Applications are only 2 pages long and can be approved anywhere from "minutes" to 10 days, according to the SBA. Greater access to credit should help spur firms to grow and hire, giving the economy a boost.

To read more.. click here.

Check out: Despite Government Initiatives, BizBuySell.com Survey Suggests Small Business Market Still Faces Hurdles

BizBuySell.com's survey results reveal that small businesses have yet to feel significant benefits from the Small Business Jobs Act, while lack of available financing continues to hinder business-for-sale transactions.

San Francisco, CA - November 16, 2010 -- BizBuySell.com, the Internet's largest marketplace for buying or selling a small business, today released results from a survey of the nation's business brokers on the state of the business-for-sale market.

According to surveyed brokers, most agree that the small business market continues to face major hurdles in today's economy, and the government is doing little to educate owners about the benefits of the Small Business Jobs Act. In fact, three in four brokers report that small business owners do not know how governmental initiatives, namely the Small Business Jobs Act, can and will benefit them.

To read the full article... click here.