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Why Small Businesses Fail

Posted By:
Richard T. Mindler, Jr.

June 2nd. 2015

Why Small Businesses Fail

 

  1. Poor planning: Yes, you must have a business plan. It can be a simple three-page plan or a huge 40-page plan. The point is that you’ve looked at all the aspects of your business and are prepared to handle problems when they arise. Your business plan helps you to focus on your goals and your vision, as well as setting out plans to accomplishing them. And don’t get mellow – revisit and revise your business plan annually.
  2. Entrepreneurial excitement: Entrepreneurs often get excited about new ideas, but are unable to determine if they’re “true opportunities” and/or put them into practice. Test every new idea against your business plan and mission statement before deciding whether to undertake it or not, and ask yourself, Do I have the time and skill to implement this?
  3. Putting all your eggs in one basket: Too often, small business owners will have just one product, one service or one big client. They cling tight to this one thing because it brings in good revenue. But what if the one thing disappears? Variety and diversification will cushion you against the ebb and flow of business tides.
  4. Poor record keeping and financial controls: Yes, you have to keep financial and business records, you have to review your revenue and expense report each month, and you have to file taxes and other business-related filings. If you don’t know how to do these, or don’t want to, get help from someone who does.
  5. Lack of experience in running a business or in the industry you’re entering: There are so many hats you have to wear, from marketing and selling in order to run a business effectively. On top of that, you have to understand your industry, the skills required to offer your products and services, and the trends in the industry. If you don’t know about these basic skills, educate yourself. Talk to others who are successfully running their own businesses, talk to industry leaders, get a book, find a website, get a coach, do your homework. And keep increasing your business and industry skills by attending classes or reading new books every year.
  6. Poor money management: You need to be able to live for one to two years without income when getting started; often businesses are very slow to get off the ground. Also, you have to create and use a realistic business budget, and not constantly drain the business income on personal spending.
  7. Wrong location: If your business has a “bricks and mortar” location, you need to make sure that you are convenient to your customers, and near to your suppliers and your employees. Even something as simple as traffic patterns and parking can make or break your business.
  8. Competition: Customers will go where they can find the best products and services. It’s important for you to know who your competition is, what they have to offer, and what makes your own products or services better.
  9. Procrastination and poor time management: Putting off tasks that you don’t enjoy will sink your business faster than anything else. You can’t afford to waste time on unimportant tasks while critical tasks pile up. All tasks need to be done; if you don’t like to do them (or don’t want to spend your time doing them), hire someone to do them for you. If your time management and prioritizing skills are rusty, hire a small business coach or take a class to help you.
  10. Ineffective marketing: Learn the basics of marketing and make sure that you track the success or failure of each marketing technique you use, then dump those that aren’t working to help you figure out what’s not working.
  11. Ineffective sales techniques: Once you have a potential client, you have to know how to lead them down the sales path. If you don’t understand the basics of selling, get some education on it immediately. If a selling technique doesn’t work, try another one.
  12. Poor customer service: Once you have a customer, you have to keep them. There are two key points here – make sure you pay attention to what the customer wants (and how these wants can change over time), and make sure you provide quick return of phone calls and emails, proper billing, win-win problem solving and an overall pleasant demeanor.
  13. Entrepreneurial burnout: owning your own business requires a huge investment of time, money, energy and emotion. It’s easy to work long days and forget to take time off. But in the end, this only causes burnout where your motivation and creativity will suffer, and a pessimistic attitude prevails. You’ll find yourself unable to balance your business and personal life, and both will suffer. Schedule self-care time into your work week and be religious about taking time off from your business.
  14. Poor cash flow: Let’s face it — having enough cash on hand to pay your bills is crucial. And having enough cash on hand, or access to capital via a loan, to launch the next stage of your business growth is mandatory. Too many small business owners stall because they don’t have enough cash.Thanx, see you next time…
    rtm…

 

Disney to sell radio stations

Posted By: Richard T. Mindler, Jr.
5-1-15

Swish some salt water

A teaspoon of salt dissolved in a cup of boiling water makes a pain-killing mouthwash, which will clean away irritating debris and help reduce swelling. Swish it around for about 30 seconds before spitting it out. Salt water cleanses the area around the tooth and draws out some of the fluid that causes swelling. Repeat this treatment as often as needed.

Radio Disney to sell almost all of its radio stations

  • Posted: May 1st, 2015

(RDMAs). Earlier this year, the RDMAs drew a larger audience than the “MTV Video Music Awards,” the “Billboard Music Awards” and the “American Music Awards” in youth demographics.

Disney said it is keeping its flagship station in Los Angeles and that station will be the driving force for its national network programming and the prime source of content in the future.

According to published reports, the sale won’t affect Radio Disney’s Latin Am

If you’re a Radio Disney fan who still listens to the network’s programming the old-fashioned way ­­ –  you know, on the radio – you might want to tune out this latest news.

Then again, there are so few Radio Disney listeners using AM and FM radio to tune in to the stations that this news might not affect too many of you.

Disney announced Wednesday that it is selling almost all of its 24 radio stations across the United States. The sale will take place Sept. 26 and will mean more than 180 positions will be eliminated.

Locally, Orlando’s WDYZ, AM 990, broadcasts Radio Disney for all of Central Florida. Gainesville, Riviera Beach, St. Petersburg and Miami also have AM stations that carry the network.

The reason for the sale is fairly straightforward. According to various reports, only about 18 percent of Radio Disney listeners catch the network’s programming via AM or FM radio broadcasts. The rest of the network’s listeners catch the network’s programming via digital platforms, such as satellite radio, the Internet and mobile phones that take advantage of digital radio distribution apps.

According to a Wednesday report at BroadcastingCable.com, quoting an unnamed source, Disney’s internal research shows that of Radio Disney listeners 6 years old and older, 37 percent listen to the radio via satellite, 35 percent listen to radio via the Internet and 31 percent listen using mobile devices. The rest listen via, well, radio. The percentages don’t add up to 100 because people listen via multiple platforms.

In a memo to employees, Radio Disney’s General Manager Phil Guerini said the network plans to invest resources in what he calls “multi-platform extensions of Radio Disney’s programming,” such as the  talent competition Radio Disney’s Next Big Thing (N.B.T.) and the highly popular Radio Disney Music AwardsAmerican partnerships, nor its partners in both Canada and Russia.

Radio Disney has had a partnership with SiriusXM for more than a decade. On July 1, the company inked a syndication deal with Dee’s Entertainment that put Radio Disney’s Top 30 program on programming segments at various U.S. radio stations.

Disney said it plans to grow the efforts of its popular Radio Disney App, which is available for iPhone, iPad and Android devices.
See you soon at Mindleronline.com

Richard T. Mindler, Jr.

Richard T. Mindler, Jr.

Jolly Joe sells WGPA SUNNY 1100

Polka legend ‘Jolly Joe’ Timmer, sells WGPA radio for $95K

By Anthony Salamone Of The Morning Call.

Posted by Richard T. Mindler, Jr.

 

“Jolly” Joe Timmer sells WGPA-AM radio station for $95K

Richard T. Mindler, Jr.

Richard T. Mindler, Jr.

“Jolly” Joe Timmer bids adieu to WGPA

Joseph W. Timmer, known to many legions of Lehigh Valley polka fans as “Jolly Joe,” has rolled out the last dance tune on his Bethlehem radio station, WGPA-AM.

Confined to a nursing home, the 85-year-old Timmer was declared incapacitated last year by a Northampton County Court judge.

Timmer’s nephew, Richard T. Mindler Jr., one of two court-appointed guardians, said Tuesday that Timmer and Timmer’s wife, Dorothy, are in a Bethlehem nursing home.

Mindler and others said that the 250-watt station at 429 E. Broad St., also known as “Sunny1100″, has been sold for $95,000 to CC Broadcasting LLC of Kutztown. The Federal Communications Commission must rule on the license transfer.

Timmer, through his guardians, also is trying to sell his other assets, including real estate and a picnic grove in Moore Township.

“It’s a shame,” said Mindler, “but AM radio is dying out and Jolly Joe was WGPA.”

The station, which broadcasts during the daytime, has featured a mix of music, including Timmer’s polka shows, talk and syndicated shows. Revenue has dropped at WGPA since Timmer stopped working at the station about two years ago, Mindler said.

Timmer was popular with his orchestra and brand of polka music before he bought the station in 1992. The International Polka Association, which inducted him into its hall of fame in 1980, said Timmer began holding events beginning in 1970 at his Moore Township grove, featuring some of the country’s best polka bands.

At one time, the Bethlehem resident also had shows on radio and television, a band and music store — all strongly promoting polka music.

For years Timmer appeared on RCN-TV each Thursday night, and the “The Jolly Joe Timmer Show” was running repeats until March 2015 of past musical performances, according to Mindler. The show also featured guests in a talk format.

One of Timmer’s final public appearances was at last summer’s Musikfest, where he performed nearly every year and was well-known for his polka tent.

Mindler said he petitioned Northampton County Court to assume the role of power of attorney after the death last summer of Timmer’s bookkeeper, who had power of attorney, combined with Timmer’s deteriorating health.

Ronald Crumbliss, 66, one of two owners of CC Broadcasting, said he followed Timmer as far back as 1969, when Timmer worked at WHOL-AM in Allentown. He described gaining ownership of the station as fulfilling a “lifelong dream.”

He intends to keep the station in Bethlehem for the time being, but plans to change its format to “Ameripolitan,” which includes Rockabilly, oldies and country music.

“We’re going to play all good, upbeat music,” Crumbliss said.

That also includes some polka. “We’re not going to forget our polka listeners,” said Crumbliss.

The status of the FCC application was unclear Tuesday. Attorney Deborah DeNardo, the other court-appointed guardian in charge of handling Timmer’s assets, did not return messages seeking comment. Michelle McClure, another attorney who is representing WGPA’s corporate owner, Timmer Broadcasting Co., in the WGPA license transfer, said she was not authorized to comment.

WGPA-AM and WGPA-FM [now WZZO-FM] began Feb. 16, 1946 and were part of the former Bethlehem Globe-Times on Brodhead Avenue in south Bethlehem.

Timmer bought the station in 1992 from Chadwick Broadcasting; the “Sunny1100″ moniker had been adopted a year earlier. The station moved twice in Bethlehem during Timmer’s ownership – to the Dodson Building at 528 N. New St. and, in May 2013, to 429 E. Broad St.

asalamone@mcall.com

610-820-6694

Copyright © 2015,  via The Morning Call / Allentown, Pa.

WGPA SUNNY1100AM to be sold

Richard T.Mindler, Jr.

Richard T. Mindler, Jr.

     Boys and girls, it’s a sad day here in the lehighvalley, that radio station WGPA SUNNY 1100 has been put up on the auction block only to be sold in the $90,000 bracket.
The station has been failing the last few years and should be sold due to the fact revenue has been down with the inception of Satellite radio, HD FM signals and repeated decline of the AM frequency;  ASCAP, BMI and CSAC continues to take royalties for any music played on radio stations.

         This is the real reason WGPA has relinquished it’s authority to compete in the Philadelphia small market.
        AM radio cannot survive with the FCC limitations put forth in the 20st. century.
        Low power and day/night stoppage of the signal will not and can not  produce revenue that is needed to produce a thriving business.

       These antiquated laws are the demise of a station like this.
Thank you:

Richard T. Mindler , Jr

 

 

Why Your Business Is Struggling

The Failing ‘A’ for Why Your Business Is Struggling?

February 3rd. – 2015

 Posted By: Richard T. Mindler, Jr.

The Failing 'A' for Why Your Business Is Struggling

 
The Failing ‘A’ for Why Your Business Is Struggling.
 
There is a hole in your business. 
And there’s is a sucking sound being made by that hole. It’s the sound of your money promptly exiting the bottom line. You are being sucked dry by this hole. 
But is there’s a way to plug the hole?
Spending cuts and the reverse, more marketing spending, are both just Band-Aid fixes. The hole will not be satisfied with such measures.  
The hole is your “ask” — either the total lack thereof or failed attempts.

Your team should be reevaluated and or fired.
Related: 5 Secrets to Winning More Sales
After all, the ask is the critical factor for achieving bottom-line results. 
If you don’t ask you don’t get.
Related: How to Increase Your Customer Referrals
Here are three reasons you must address the “ask” hole in your business: 
1. If you don’t ask, you can never be told no. So if you don’t ask, you can never follow up and ask why not? It might be that your offering or the way you are positioningit are not hitting the mark.
2. A no can be as good as a yes if it leads you in the direction of achieving actual sales by adapting your product, service or offering.
3. If you don’t clearly ask, the buyer might receive mixed messages. There is a stark contrast between an item on the shelf and another next to it with a price tag. The first item’s placement on the shelf implies it’s for sale but the price tag makes it clear.
Make sure every message you send has a price tag, and don’t give away FREE stuff. A way for a client to identify what it is you’re selling and how he or she can find out about investing in it.
Look over all contract’s and revise to a more comfortable rate so not to give away Free stuff. 
It is noisy out there. You know there are many automobile companies out there and a plethora of coffee companies and even more aspiring musicians. But which ones do you hear about? It’s probably the ones who let their presence be known with clear offerings and a concise ask at the right time and in the right place.
It’s no longer sufficient to be the best. You have to be the best, make it known and then ask for the opportunity to prove it. 
Don’t be a “ask deficit” supporter. Take this weekend to locate the sucking sound in your business and craft or redraft your ask. You’ll thank me for it.

Or just sell it and get rid of the headaches.

Dry January

SAN FRANCISCO (AP) — For the first time in recorded weather history, San Francisco received no measurable rain in January.

The city’s streets stayed dry, and the month ended on Saturday with sunshine and the temperature hitting 70 degrees.

The rest of the Bay Area was also dry.  That other cities, including San Jose, saw at most two one-hundredths of an inch of rain.

The Bay Area is still above normal rainfall totals for this time of year after a wet December. But rain will have to start falling soon to maintain a normal pace. The state, meanwhile, remains in the grips of a drought.

San Francisco’s recorded weather history dates back to the Gold Rush era of the mid-19th century.
Imagine that?

Facebook tries to cut down on hoaxes

Facebook trying to cut down on scams and false news stories in feed, but says satire is OK

Associated Press

 Posted By: Richard T. Mindler, Jr.   –  December 2015
 

Facebook has a new fix for fibs.

The Menlo Park, California-based social media company said that it has updated its service to reduce the number of hoaxes that appear in users’ news feeds. These posts — which include scams or deliberately false or misleading news stories — can annoy users.

Facebook will look at how often users report an item as false — a new feature — and how often users delete the item.

Facebook won’t remove the items. But it will reduce how often offending posts show up in news feeds. Posts will also appear with a message saying that many others on Facebook have reported it as false.

Facebook says humorous and satirical content should not be affected.

What happened in Fergison

Who is in the grand jury, and what is its role?

The grand jury is made up of nine whites and three blacks. Its task is to determine whether there is probable cause to believe Officer Wilson committed a crime, and if so, which one. The grand jury meets in private, accompanied by two prosecuting attorneys.

What does the grand jury base its decision on?

The prosecutor usually chooses the evidence that the grand jury will hear, but in this case, the grand jury was allowed to call witnesses and issue subpoenas, according to Susan McGraugh, a law professor at the St. Louis University who has followed the case extensively. Grand jurors view photographs, forensic evidence and medical reports. Witnesses who have testified include people who saw the events and police officers who worked on the investigation. While it is unusual in grand jury proceedings for the defendant to be allowed to testify, Officer Wilson also gave testimony.

After hearing all of the evidence, the grand jury will vote to determine whether there is probable cause to believe that Officer Wilson committed a crime. If nine of the 12 grand jurors agree, he will be indicted.

What events led to the shooting of Michael Brown?

11:54 a.m. Michael Brown and Dorian Johnson leave Ferguson Market and Liquors, a convenience store. Surveillance video shows Mr. Brown stealing some cigarillos.

 

They head toward their homes, walking north on West Florissant Avenue, then turning right on Canfield Drive. They walk in the middle of the street, which is usually quiet at this time of day.

 

12:01 p.m. Officer Darren Wilson arrives, driving alone in his police car. Speaking through his window, he tells the two men to move away from the street.

 

Mr. Brown and Officer Wilson begin to scuffle. Forensic evidence reveals that Officer Wilson’s guns were fired twice in the car, first striking Mr. Brown in the arm and missing him the second time.

 

Mr. Brown runs away, and Officer Wilson gets out of his car and pursues him on foot, continuing to fire. Autopsies show that Mr. Brown had been shot at least six times.

 

What parts of the incident are in dispute?

Accounts differ on who started the altercation and whether there was a struggle for the officer’s gun. Officer Wilson said that he was pinned in his vehicle and feared for his life while struggling over his gun with Mr. Brown. He said that Mr. Brown punched and scratched him repeatedly, leaving swelling on his face and cuts on his neck.

Mr. Johnson, who was with Mr. Brown, said that Mr. Brown never reached for the gun. He said Officer Wilson tried to choke Mr. Brown, grabbed his arm to pull him into the car and threatened to shoot.

Officer Wilson has also said that Mr. Brown had been running toward him when he fired the fatal shots. Some witnesses said that Mr. Brown appeared to be surrendering with his hands in the air when he was killed.

How many investigations are underway?

At least three.

The St. Louis County grand jury began hearing evidence on the shooting on Aug. 20 and is expected to reach a decision this month on whether to indict Officer Wilson.

The F.B.I. opened a civil rights inquiry into the shooting on Aug. 11. Officials said that while the federal investigation is continuing, the evidence so far did not support civil rights charges against Officer Wilson.

The Justice Department later began its own civil rights investigation to examine whether the police in Ferguson have a history of discrimination or misuse of force.

What did the autopsies show?

Dr. Michael M. Baden

A private autopsy requested by the family of Mr. Brown showed that he was shot at least six times: four times in the right arm and twice in the head. The autopsy was performed by Dr. Michael M. Baden, the former chief medical examiner for the City of New York.

Dr. Baden said that one of the bullets entered the top of Mr. Brown’s skull, suggesting that his head was bent forward when it hit him, and caused a fatal wound. No gunshot residue was found on the body, which would suggest that the rounds were not fired from very close range; however, Dr. Baden did not have access to Mr. Brown’s clothing, which could contain residue.

Local officials have not yet released their report on the initial autopsy, though a person briefed on the report said that it showed evidence of marijuana in Mr. Brown’s system. A third autopsy conducted by a military doctor as part of an investigation by the Justice Department also found that Mr. Brown was shot six times.

How long did the protests last?

Mr. Brown’s death prompted weeks of demonstrations and a response from the police that include tear gas and rubber bullets. Confrontations between protesters and law enforcement officers continued even after Gov. Jay Nixon deployed the Missouri National Guard to help quell the unrest. Since then, protests in Ferguson have persisted in smaller numbers. In early October, the Ferguson Police Department handed over responsibility for policing protests to the county police department, which is larger and better equipped.

Police command post The police have used the parking lot of this shopping center, which contains a Target store, as a staging area.

Site of the robbery Mr. Brown is suspected to have taken part in a robbery at Ferguson Market & Liquor before he was shot.

McDonalds One of the many businesses damaged during the protests.

Strip malls Several of the businesses have been boarded up after being damaged or looted.

QuikTrip The convenience store was looted and set on fire last week and has been a gathering point for protesters.

Site of Michael Brown’s Death

What has contributed to the racial tension in Ferguson?

The protests against the police have pitted the predominantly black community against a nearly all-white police force. Of the 53 commissioned officers in the Ferguson Police Department, four are black.

While most of St. Louis County is white, Ferguson and neighboring towns are predominantly black. Blacks were once a minority in Ferguson, but the city’s demography has shifted in the last decade after white families moved out to surrounding suburbs. Ferguson, a town of 21,000, is a “relatively stable, working and middle-income community,” said Richard Rosenfeld, a crime trends expert and professor at the University of Missouri-St. Louis. “But it does have its pockets of disadvantage.”

Is Ferguson generally a violent area?

Not when compared with neighboring towns.
The violent crime rate is far lower in Ferguson than in Jennings, and it is comparable to two other adjacent towns of similar size?!
You tell me my friends, I don’t condone excessive force, but what is excessive when your life is on the line and you are forced to react in a split second?
What caused this incident to take place?
The 911 tapes said there was a “stealing taking place” event…
Is this another reason for people to loot, rob and pillage?
Leave me your comments here…
Thanxs:
rtm..

5 ways to sell your business at a peak price in 2014

Richard T. Mindler, Jr. – Posted 10-2-14

5 ways to sell your business at a peak price in 2014

 

The BizBuySell Insight Report, published by the online business marketplace BizBuySell, found that the number of small-business deals that closed in 2013 increased by 41.7 percent in the third quarter compared to the same quarter in 2012, with restaurants and retail businesses seeing the most action. The median sale price for small businesses in Q3 of 2013 was $180,000—up 2.9 percent from the same time the previous year, though a little below the median asking price of $199,000. On average, selling prices were equal to 2.19 percent of cash flow.
This does not apply to Broadcast companies, radio stations, TV stations or newspapers due to the supply, it’s just not there and have a price in a different market. (Much Higher)The healthy selling climate seems likely to continue—which is good news for those who are eager to retire or cash out. Among mergers-and-acquisitions insiders, 68 percent expected the market to pick up strength in the 12 months following September 2013, according to a survey released in October by the law firm Dykema, headquartered in Ann Arbor, Mich.

With interest rates still low, experts say many buyers should be able to access affordable financing. “You’ve got a pretty good window in 2014 where rates will begin to start to rise but still stay at historically low levels,” said Mitch Davidson, managing director of Post Capital Partners, a New York City private equity firm focused on the lower end of the middle market. “Debt finances a significant element of these transactions.”

(Read more: Where American entrepreneurs are striking next)

Of course, the market for any small business can be unpredictable, so owners shouldn’t sell just because there’s momentum now, say experts. There need to be other compelling reasons to put a business on the market, whether that’s the desire to move on to a new venture or to slow down.

“Market timing is always tricky, so I’m not sure that anybody should be waiting for just the right time to sell,” said Kevin O’Connell, a partner in the corporate department at Boston-based law firm Posternak Blankstein & Lund, who works in mergers and acquisitions.

If you are considering selling a business at some point in the near future, it is important to get it into shape to reap the maximum return on your investment. Here are five strategies experts recommend. The best part: None of these will be wasted efforts if you reconsider selling, because all will make your business stronger.

1. Get your books in order.

A recent Citibank Small Business Pulse report found that 25 percent of small-business owners expect to sell their company to a competitor or third party as an eventual exit strategy. But many business owners keep sloppy books, which can scare away buyers—especially sophisticated ones, like private equity firms. They want to see evidence of profit and actual or potential growth, said O’Connell.

To give buyers confidence, Davidson recommends getting audited financials for several recent years, which can be costly but makes a business more attractive. “It is a great investment to make,” he said.

Don’t put off getting your financials in shape, even if you’re planning to wait another year or two to sell. Often, small-business owners have to put their business on the market unexpectedly due to health problems, accidents or a family member who needs care, said Bill Watson, a former CPA. As owner of Advanced Business Group in Nashville, Tenn., he helps business owners build the value of their businesses and sell them. “Make sure you’re ready to sell at all times,” he advised.

(Read more: Buyout kings seek US partnerships as deal prices rise)

“Generally, if your business relies less on the owner, you get a higher selling price.” -Jock Purtle, broker, Digital Exits

2. Protect your intellectual property.

This can help you amp up the value of your business, but it’s not always a speedy process, so plan ahead. “If you need to get a patent for something, that’s something you need to consider very early in the process,” said Tatiana Melnik, an attorney in Tampa, Fla., who works with both start-ups and established businesses. “Spend the time trademarking your company name. Get copyright protection for whatever you are developing. All of that has value.”

Sometimes owners who do this discover that they have been infringing on the trademark of another business unwittingly. You’ll be much better off if you find out early and fix the situation before you’re in talks with a buyer. “A lot of times people don’t find out until they’re considering selling,” Melnik said.

3. Make sure the business isn’t dependent on you.

A business that depends heavily on the presence of one person to succeed—such as a creative services business where clients are paying for your personal talent or expertise—can be very difficult to sell to another buyer. “Generally, if your business relies less on the owner, you get a higher selling price,” said Jock Purtle, a broker of Internet businesses who runs Digital Exits, a Sydney, Australia–based firm that does 90 percent of its deals in the U.S. “If the operations are managed by staff or systems or technology and there’s less day-to-day importance of the owner, you’re going to get a higher price.”

(Read more: Start-ups take perks to new levels)

One of Purtle’s clients, Travis Jamison, founder of Supremacy SEO, located a buyer within about a month when he recently decided to sell an ecommerce store he launched to sell guides telling consumers how to “jail break” iPhones, a growing craze among the tech savvy. The process, which is legal but is discouraged by Apple because it can lead to problems like security vulnerabilities, lets the phones’ owners unlock the code so they can download apps from outside the iTunes store.

Jamison’s secret to finding a buyer quickly: “I built it to sell from the get-go,” the serial entrepreneur from Ashville, N.C., said on a call from Ho Chi Minh City in Vietnam, where he has been staying. From the time he started the business in February 2013, he used his expertise in search engine optimization to make sure the store ranked high in Google. He automated virtually every aspect of the business, from taking orders to providing outsourced customer service in the Philippines. And he hired an employee to run it while he travels around the world—a sign that someone else could run it. And he kept good written records on his procedures. “You want everything to be written down in a process,” he said. “Otherwise, there will be questions and uncertainty about it.”

Due to the terms of the deal, Jamison could not disclose the amount of the sale, but he said that the ease of running the ecommerce store made it very appealing to the entrepreneur who bought it.

(Read more: Getting a high sales price for your company)

4. Know what your business is worth.

One of the first steps Watson recommends to owners who seek his help in selling a business is to get several independent valuations done by reputable firms so his clients know where they stand. If they have the energy to make a push to increase the value of the business, he works with them to identify strategies that will help. Sometimes this may mean going after bigger contracts to increase the “sellable cash flow.” In other cases, it could mean making strategic investments in the business that will make it worth more.

“I had a client that needed a $60,000 computer upgrade,” he recalled. “They could have leased that product from someone, or they could go out and buy that product and depreciate it. As far as the cash they spent, it was about the same either way.” However, each route would have a different impact on the firm’s value. “On the market, if you lease it, it’s an expense of the business,” he said. “That $60,000 comes straight out of their cash flow. They increased value of $180,000 by buying the computer upgrade. It had a tremendous effect on their value.”

5. Don’t keep secrets.

“Buyers do not like surprises,” said Posternak Blankstein & Lund’s O’Connell. “Don’t hold back on that uncomfortable litigation that has been filed against you. Whatever skeleton you have in the closet, be prepared to talk about it early. The longer you wait, the more disappointed the buyer will be. The greater the likelihood you will spoil the deal.” If you’re involved in litigation, have toxic goo buried in the backyard or are grappling with employee unrest, you may need to resolve those problems to get the best selling price. Regardless of what the market does in 2014, it will be easier to sell a business that’s thriving.
Check back soon for more informative facts from- Richard T. Mindler, Jr.

iPhone 6 vs. Android

September 17th. 2014

 
iPhone 6 vs. Android: 9 Signs You’re A Samsung User Who Should Switch To Apple!

Posted By: Richard T. Mindler, Jr.

  • 2014-09-09T174542Z_1_LYNXMPEA880WA_RTROPTP_4_APPLE-IPHONE
    Mindler  
  • RTR45NS7
    Here are some reasons to pick the new iPhone over an Android device. Reuters
  • Phil Schiller, Apple’s senior vice president, speaks about the iPhone 6 during a company event at the Flint Center for the Performing Arts in Cupertino, California, Sept. 9, 2014. Reuters/Stephen Lam
  • Here are some reasons to pick the new iPhone over an Android device!

Your move, Samsung. For years, big-screen smartphones powered by Google Inc.’s (NASDAQL GOOGL) Android operating system have been chipping away at iPhone’s market share, particularly in emerging markets. But with the introduction of the 4.7-inch iPhone 6 and the 5.5-inch iPhone 6 Plus, Apple Inc. (NASDAQ:AAPL) just copied the killer feature of most Android phones: (Big Screens)

 

 

Pre-sales of the iPhone 6 and 6 Plus ahead of the devices’ Sept. 19 launch are breaking records. How many of these iPhone buyers are Android converts? We’ll have to wait for the sales data. But if you’re Apple fan living in an Android world, here are some signs that it might be time to switch:

You only chose Android for the large screen. Devices powered by the Android operating system have dominated the large-screen market for some time, with manufacturers commonly releasing devices with displays that surpass 5 inches and some that even surpass 6 inches. The previous protocol was: If you wanted a large phone, you likely opted for an Android device because Apple stubbornly released device after device with 4-inch displays.

Now, the iPhone 6 features a 4.7-inch display and the iPhone 6 Plus features a 5.5-inch display. Both devices cater to two very important sectors of the market. Analysts say that devices with displays larger than 4 inches but smaller than 5 is currently the fastest growing market, while devices over 5 inches are a vital niche market that does not have many devices at premium price points and specifications. It is believed that with the iPhone 6 and 6 Plus, Apple is trying to win back the Android users it previously lost due to device size.

You find Android interfaces too difficult. Apple’s iOS operating system is known for providing a simple and streamlined user experience, while the Android operating system is more focused on customization and ongoing development of applications and other features. Many programmers and hackers often opt for Android for this reason, but the variation in the software might be too much for a layman user.

The Android user experience can also vary depending on the brand of the device due to the custom software that manufacturers add on top of Android. There is pure Android found on Google’s Nexus line, the TouchWiz UI for Samsung (KRX: 005930), the Sense UI for HTC (TPE: 2498), the Optimus UI for LG (KRX: 066570) and many others. But the Apple user experience will be the same on the iPhone 6, iPhone 5s and so on.

You’re frustrated by infrequent Android updates. Apple is also completely in charge of sending software updates to all its supported devices, which means that updates become available for all iOS devices at roughly the same time. The process for receiving Android updates is much different since for most devices, the software has to go through device manufacturers and mobile carriers before they reach users. This often leaves devices without updates for several months following the release of a new Android system version. In particular, this could leave users with unfixed bugs and other issues for an extended period of time. Though Google is making an effort to fix this issue by optimizing its latest system version to be compatible with more devices, most Android devices still run a much older version of the operating system.

Your entire electronics ecosystem is Apple except your phone. Somehow you own a MacBook, an iPad, an iPod; all of your music is on iTunes, yet you have an Android smartphone. Dual fans of Apple and Android know all too well the stringent incompatibility between the two platforms. Connecting an Android mobile device to an Apple computer will prompt the Android File Transfer feature, which allows users to manually move files from one device to another — instead of automatically syncing files. This is only one of many roadblocks of having incompatible devices. Tried and true Android smartphone fans with Apple computers will be accustomed to this, but if it’s too much of a hassle for you, it may be time to switch to an all-Apple device lineup.

You’re concerned about safety. Despite the major iCloud hack during which intimate photographs of several celebrities were stolen, Apple’s software is considered some of the safest on the market. Apple encrypts both its software and hardware, so that all information on its devices is confidential. The Android platform is considered open source, which means anyone can access the system’s code and modify it to their liking. While most developers and programmers use this ability for good, there are many that do not. The Android operating system reportedly contains 97 percent of all malware on the market. The truth is, no software is completely safe and it is quite easy to protect an Android device from malware threats. But for some, owning an Apple device gives an extra sense of security.

You’re interested in Apple Watch/Apple Pay. Apple also recently announced its new device Apple Watch and its new service Apple Pay. Consumers shouldn’t be surprised that these new products are compatible only with other Apple devices; so if you want to use either, you’d have to bite the bullet and get an iPhone.

You can’t decide on which Android device you want. Samsung recently announced its Galaxy Note 4 and Galaxy Note Edge smartphones; there is also the Sony Xperia Z3 and the Motorola Moto X (2014) among the latest Android-powered devices. In addition, there are many Android devices that released earlier this year, such as the Samsung Galaxy S5, HTC One M8 and LG G3. The question becomes which do you choose? If you’re unsure, an easier question might be: Do I choose the large iPhone or the larger iPhone?

The new iPhone will be available in just a few days. The iPhone 6 and iPhone 6 Plus will be available for purchase on Sept. 19 and the devices are already available for pre-order. Not only have the new iPhones sold more than 4 million pre-orders, they are expected to surpass 10 million handset sales during their introductory weekend. The iPhone 6 launch is expected to be the largest in Apple history. Additionally, mobile carriers are offering several deals in order to get customers to purchase the new iPhones on their network.

You want the new U2 album. While many iOS users are trying to figure out how to delete the new U2 album “Songs of Innocence” from their iTunes library, perhaps you’re still a fan on Bono. Notably, the album was sent to users for free during the iPhone launch event last Tuesday. This might be a sweet deal for some — buy the iPhone 6 and get the new U2 album free.