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Casual Articles - How To Maximize The Value Of Your Business
How long should the line be at a truck wash ideally? Well, that depends on your goals and location and the quality level. Most of the Industry would agree that Shorter Lines at Truck Washes Increase Business. Although there is a catch 22 to the line situation, if there are no trucks there then often folks will drive by. Same in a car wash business. No lines ever means that your wash sucks in the minds of many customers or potential customers Long lines mean that it will take too long if you pull into the truck wash and this means the wait could be too long. For a long haul truck driver an hours wait is 65 to 70 miles lost. Two hours is approaching 150 miles in lost distance you see. But with Short lines means it is seen to the Truck Driver as their good fortune and a chance to seize the opportunity. This is how I feel washing my coach;http://www.carwashguys
Do you have some goals you want to achieve or dreams you want to fulfill? A useful tool in reaching the outcomes you desire is the creation of a vision, which can be short or long-term. I recommend writing down specifics to add clarity and focus.What is a vision?Here's one definition by Thomas Leonard.“It is a state or outcome that a person can see naturally and that inspires them. In other words, they are drawn, attracted, and pulled toward what they see. It's exciting, and there is very little emotional cost. In fact, joy is often present. It's not a reason for living." Visions evolve and change over time reflecting who you are - your passions, values, needs, and desires.*Visions evolve and change over time reflecting who you are - your passions, values, needs, desires etc.*Powerful VisioningWritten as a story, single sentences, drawn as a picture, a c
How can you get the best value for your business?z
The purpose of this article is to help you look at your business as an acquirer might in valuing your company. The more attractive you can make your business to the acquirer, the better chance that you will get a higher value for your business. Your M&A advisor will also play a big role in the valuation and we will cover this in a different article.
Here is a list of key vectors acquirers use in evaluating business:
1. Strategic Fit: Strategic fit occurs when some aspects of your business (products, services, distribution channels, location, etc.) are worth a lot more to another player in the industry than it is to you. When a strategic fit is established, the acquirer sees your business on a post acquisition basis and may be willing to offer much more than the going market multiples. Give careful consideration to who the strategic acquirers may be. This is one area where a knowledgeable M&A advisor can be
It has happened again, and again in a very big way. I am sure you have heard the news that General Motors has announced they are closing plants and letting some 30,000 people go. Some they will be able to relocate, some they won’t.Ford announced they are laying off over 4,000 people as well. This is all devastating news that we should all be concerned about.The manufacturing sector of our economy is the one sector that provides for our society a “ladder” to allow us to move from lower class economies to middle and upper middle class economies. Without manufacturing, it becomes more and more difficult for families to pull themselves up and obtain the Great American Dream.Most manufacturing jobs provide up to nine other jobs in the local economy. Think about the local drug stores, dry cleaners, car washes, gardeners, fast food restaurants, independent auto mechanics, and so on, that are going to see their c
How can you get the best value for your business?z
The purpose of this article is to help you look at your business as an acquirer might in valuing your company. The more attractive you can make your business to the acquirer, the better chance that you will get a higher value for your business. Your M&A advisor will also play a big role in the valuation and we will cover this in a different article.
Here is a list of key vectors acquirers use in evaluating business:
1. Strategic Fit: Strategic fit occurs when some aspects of your business (products, services, distribution channels, location, etc.) are worth a lot more to another player in the industry than it is to you. When a strategic fit is established, the acquirer sees your business on a post acquisition basis and may be willing to offer much more than the going market multiples. Give careful consideration to who the strategic acquirers may be. This is one area where a knowledgeable M&A advisor can be
Situation may arise when you are opening a dollar store in which inventory levels have fallen way below acceptable levels. It does not matter what the reason, it is important to address the situation as quickly as possible. The obvious way to address the problem is to order additional merchandise to place on the sale floor.However, there is more to it than just ordering merchandise. It is important to order the right merchandise for the store. It is important to order merchandise that has established a history of strong sales for the store. When opening a dollar store merchandise that previously sold well needs to be brought back first.If you have access to previous sales records, invest money in inventory by sales history. Start with the highest selling department and replenish tops sellers in that department first. When you are opening a dollar store the goal is to keep the highest selling items in the top performi
Here is a list of key vectors acquirers use in evaluating business:
1. Strategic Fit: Strategic fit occurs when some aspects of your business (products, services, distribution channels, location, etc.) are worth a lot more to another player in the industry than it is to you. When a strategic fit is established, the acquirer sees your business on a post acquisition basis and may be willing to offer much more than the going market multiples. Give careful consideration to who the strategic acquirers may be. This is one area where a knowledgeable M&A advisor can be
Most people learn grant writing accidentally; their employer needs funding and there is no one else to tackle the grant applications. This learning involves a lot of trial and error – mostly error in the beginning. Get a head start and teach yourself grant writing. By taking the steps below, I went from knowing nothing about grant writing to becoming a full-time grant writer.Improve Your Writing Skills Grant writing will be easier if you already enjoy writing, but that doesn’t guarantee you will good at this form of writing. You must be able to write persuasively and in a detailed, yet concise, manner. If you are not confident in your writing skills, take a writing course at your local community college or online.Research the Craft of Grant Writing Read as many “How To” grant writing books as your brain can hold. The two books that I found to be the most helpful are Grant Writing for Dum
1. Strategic Fit: Strategic fit occurs when some aspects of your business (products, services, distribution channels, location, etc.) are worth a lot more to another player in the industry than it is to you. When a strategic fit is established, the acquirer sees your business on a post acquisition basis and may be willing to offer much more than the going market multiples. Give careful consideration to who the strategic acquirers may be. This is one area where a knowledgeable M&A advisor can be
The Illinois State Agency that oversees the collection and reporting of State income taxes deducted from payroll checks is:Department of Revenue 101 W. Jefferson St. P.O. Box 19022 Springfield, IL 62794-9022 (217) 785-0970 (800) 732-8866 (in state) www.revenue.state.il.usIllinois requires that you use Illinois form "IL-W-4, Employee's Illinois Withholding Allowance Certificate" instead of a Federal W-4 Form for Illinois State Income Tax Withholding.Not all states allow salary reductions made under Section 125 cafeteria plans or 401(k) to be treated in the same manner as the IRS code allows. In Illinois cafeteria plans are: not taxable for income tax calculation; not taxable for unemployment insurance purposes if used to purchase medical life insurance. 401(k) plan deferrals are: not taxable for income taxes; taxable for unemployment purposes.In Illinois supple
2. Cash Flow: After strategic fit, cash flow is the single largest value driver for most businesses. Think of ways to improve your EBITDA on a sustainable basis. Acquirers are suspicious of short term jumps in cash flow. So, be careful not to delay hiring or equipment purchases beyond what you believe is reasonable. Once an acquirer starts doubting your credibility, the due diligence increases and the acquirer will make changes to valuation to adjust for the risk.
3. Management Depth: Keep in mind that acquirers buy a business that they hope will be functional and growing after the sale. It is tough for the acquirer to place high value on your business if you are the sole decision maker in the company and the business depends largely on your skill set. Developing your staff so that they can run the business when you are gone can pay big dividends when it is time to sell. If you are concerned about your employees leaving once you are gone, it may be good idea to consider employment contracts, stock grants and other incentives that give them a reason to stay
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