Business Consultants

Archive for December, 2011

Business Selling Process (Simple)

1. Determining the fair market value of the business
2. Set Preparing all books and records for prospective buyers
3. Putting the business on the market
4. Dealing with the potential buyer
5. Recieving an offer
6. Negociation – Price, Terms, and Condition
7. Accepting an offer
8. Provide all necessary books and records to the buyer
9. Work with the buyer to remove all contingencies of the contract
10. Signing the closing statement (1~3 days before the closing date at the escrow)
11. The night before the closing date
12. The closing date

Many people sign up for affiliate programs with the hopes of making some serious money. They advertise a few places and then wait for the money to start pouring in. When it doesn’t, they blame it on the program and quit.

I am convinced the only way to make money online is to have a consistent Advertising plan. A plan you are willing to work hard on and commit to for a selected period of time. When making this plan, you need to do two things. First, you should pick a few affiliate programs that are of interest to you. Second, you need to decide how long you want to work these programs. Once you decide on a time period (I recommend 6 months to a year), you must make a promise to yourself that you will not stop advertising until that time period is up. This is perhaps the most important factor in your success.

Next, you need to consider your advertising options: traffic exchanges, classified ads, e-mail campaigns, ezine articles, posting to forums or message boards, chatting with others who are interested in what you have to offer, and posting flyers around your town. Now you see the many possible advertising avenues you can choose from. I recommend doing all of them. It may sound like a lot of work, but when broken down into a plan, it is not.

One possible plan may look like this: Traffic Exchanges-1 hour per day. Post 15 classified ads per day. Make 5 posts to a message board or forum per day. Submit an article once per week to an ezine. Visit chat rooms and distribute flyers as you have extra time during the week. This all can be accomplished by spending 2-3 hours per day. You will be surprised how much you get done when you have a plan. You may also choose whether you will work 5 or 6 days per week. Make a checklist for each day of the week, and mark each task off as you finish it. That will keep you on focus, and will make you feel good that you are one step closer to reaching your goal.

Make a commitment to your new plan and don’t get involved in any other programs until your current programs are making you money consistently. Don’t give up. Sticking with this plan will significantly improve your success. Remember, Advertise, Advertise, Advertise.

Much has been said and written about the globalization of the marketplace in the new century.  More and more, business no longer sees their markets as limited to their community, state or even this country.  To be successful in the new world economies, we have to see our markets as international if for no other reason than that our competition and our customers are seeing these markets.

The press likes to make a fuss about the effect of international trade on the national workforce.  While that is a concern, the old axiom that every problem represents an opportunity applies well to this business paradigm.  If we as business people begin to see the international business community as our opportunity to tap into markets and revenue streams otherwise unimaginable in another market environment, we can capture a new profitability that can come with success in those markets.

However, doing business in foreign markets demands some changes to how we go about structuring our contracts and sales and distribution networks.  One of the most explosive markets that is just beginning to become available to western businesses are the wealthy cultures of the Middle East.  With the explosion of the Dubai projects and the westernization of many of the Middle East cultures, it is becoming possible to “go retail in Riyadh” if we are willing to learn the culture and how to approach those markets.  To do so, the following constraints should be taking into consideration.

§    Middle East markets are self protecting.  Many Middle East countries restrict commerce to occur only between business entities within the country.  This can be worked around utilizing partnerships with local businesses who can bring in your product and create a local franchise.  The business is still yours, as are the profits, but the localization of your presence in a Middle East economy is set up to honor these restrictions.

§    Middle East markets work under Islamic Law.  There will be interruptions for daily prayer and for Islamic holidays that you will be expected to honor.  So be prepared to be respectful of these customs.  Also be sensitive that nothing in your product offerings makes reference to other religious viewpoints.   This is not being timid about our own culture.  It is just being savvy about how to work profitably in an Islamic culture.

§    Distribution and management must be internationalized.  You probably will not be able to set up a warehouse in the middle of Saudi Arabia with your company name on it.  Because of the local bias of the states where you want to do business, take advantage of any existing distribution channels that go through Europe or other surrounding countries to route your product to the Middle East and turn over ownership, management and distribution of the product within the Middle East to your Arabic partners before the product enters the country.  This careful set up of your network will pay off in the long run.

§    There are friends and enemies in the Middle East.  Many fear doing business in the Middle East because of dangers due to recent conflicts.  Just be aware that the west has many allies in these countries and there is a desire to partner with us within the more sophisticated economies in the Middle East.  By taking care as you forge your relationships and using local wisdom to craft your business dealings, you can do business in the Middle East safely and profitably.

These are significant issues when considering whether it is time for your company to start offering your products and services to the wealthy nations of the Middle East.  But if the time has come that your business is ready to start building those international commerce channels, the results can be tremendously profitable for your bottom line.  The investment is worth the effort if the business structures are developed wisely.