This book is for individuals who are selling or purchasing an established business. Sellers need to read it long before they are ready to sell because it typically takes two to three years to prepare... More > a business for sale and then find a buyer. The book emphasizes the difficulties of accurately valuing (pricing) a small business, and proposes a valuation method (with several examples) that takes into consideration both the longevity of the operation and the fact that many small businesses do not accumulate much in the way of tangible assets. It also proposes that sellers look for opportunities to offer financing to qualified buyers. This not only generates additional income from the transaction, it also keeps buyers away from bankers, who can easily disrupt negotiated agreements with their reluctance to loan funds for small business acquisitions. The important thing in the sale of a small business is that both parties reach an agreement that they feel comfortable with.< Less
Developing a coherent and profitable pricing strategy is a key part of what makes a business successful. It is a difficult challenge for any entrepreneur and is often overlooked or ignored during the... More > model building or planning stages of a start-up. Pricing as an afterthought, however, is a formula for disaster. This book provides an in-depth look at how product and service pricing strategies and tactics should be conceptualized and implemented. These ideas may seem too complex for entrepreneurs who are in the very early planning stages of their business, but entrepreneurs should give high priority to pricing strategies as their business ideas take shape. Developing a viable business model is the single most important step in the entrepreneurial process, and developing pricing tactics that assure profitability ranks a close second. This book is lengthy, complex and loaded with examples. It is essential reading for a successful start-up.< Less
Part of starting a business is determining whether or not you have the “the right stuff” to be successful. This book challenges the idea that certain larger than life personalities are... More > best suited for success in business. Most entrepreneurs are not born with unique personality traits that predestine them to succeed. They work diligently at self-improvement and are able to adapt their personality to ever-changing market circumstances and management challenges. Absence of a natural “celebrity” personality is not a barrier to success.
I have developed a list of ten basic “Personality Skills” that I have observed in successful entrepreneurs. I provide a detailed description of each one (with real-world examples) and a Personality Skills Work Sheet to assist you in assessing your own strengths and weaknesses in these areas. Your self-evaluation will make you aware of things about your entrepreneurial aptitude (either positive or negative) that you had not previously considered.< Less
Two farm puppies (Rusty and Bandit) are playing 'Lions' in the meadow when they suddenly see a skunk. They are afraid of it because it looks funny. They have also heard that skunks smell bad. But... More > their mom and dad (Wrinkles and Scruffy) refuse to bully the skunk and chase it away. Instead, they encourage Rusty and Bandit to learn more about skunks before deciding that skunks are scary. With the help of Captain the Horse, Ricky the Raccoon and Frederico the Spanish-speaking Fox, Rusty and Bandit discover that you shouldn't judge a skunk by the way it looks and smells.< Less