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 "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.

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.