GlobalBX Entrepreneur Business Articles - September 2008Now You Can Use Your 401k or IRA Account to Fund a BusinessBased on an exemption in ERISA law, new business owners can get penalty-free access to their retirement funds to buy or start up a new business. Our pension actuaries have designed a multiple-employer trust plan that couples a 501(a) tax-deferred trust to an retirement plan that includes special pro rata, new-comparability and safe harbor features. […] The Niceties of Franchise Due DiligenceSorting out your own best mode to invest in a franchise oportunity Top 5 Ways to Get More Sleep During These Tough Economic TimesWorrying causes us to sleep fitfully. Here are some ways you can stop the worrying and sleep better during these tough economic times. 1. You will sleep better if you feel as though you have accomplished something, educate yourself about your business, read books, trade magazines, newspapers and attend any seminars or online tele-seminars and […] Picking a MarketA lot of entrepreneurs start their own business because they have what they think is the next great million dollar idea. They spend countless hours and all of their money developing their idea with the thought, “If I build it, the customers will come.” That is the worst way to go about starting a business. […] The 5 Biggest Mistakes Made When Getting A Business AppraisedMost business owners will, at some point, want or need to know how much their business is worth. They will be faced with the task of finding someone to perform a business appraisal or valuation. Since this is unfamiliar territory, the owners often make some big mistakes. Mistake #1 – Automatically Hiring Your Existing […] Why You Need a Business Planning System NOT a Business PlanWhen someone mentions business planning we have been conditioned to think about writing a business plan. There are hundreds of books and articles, tons of software, an army of consultants, and a multitude government programs to help you write a business plan. There are virtually no resources to help you set up what today’s business […] Don’t Let Passions Rule When Buying a BusinessFor many, the American dream of owning a business is in queue right behind owning a home. I was a teenager when I owned my first business. Since then I have bought or started many businesses and helped others do the same. Here are some common mistakes I have witnessed or committed myself. Paying too […] Confidentiality Agreements: Their Importance To Business Buyers And SellersIf you are planning to buy a business in the near future, or sell one for that matter, then you are probably thinking about the price you may have to pay, scheduling business appraisers, collating legal documents, putting in an offer and so on. The list of things to do is indeed long. However, one […] How to Increase Sales by 20% Without Spending More for AdvertisingThe managers in your dealership must have a written job description with clearly defined responsibilities and expectations. Having specific goals for the department is required. Daily action plans for selling, training, appointments, one-on-one coaching, save-a deal meetings, deal structuring, follow-up, etc will increase sales by 20 percent without spending more for advertising. If you read […] Lead Generation = Dollar CreationAll businesses are built on two areas of competency – people skills and marketing skills. Many sales people who are more than adequate in their sales and people skills are struggling today. The reason is most sales people lack enough opportunities with customers. Lead generation = dollar creation As a sales person you are in […] Find Your Hidden WealthWhat is hidden wealth? Hidden wealth is an unused, dormant or under utilized part of your business that contains great value. All businesses have at least one hidden wealth. Even the best businesses in the world contain hidden wealth. The key is to determine your hidden wealth and begin to mine the potential gold that […] How to Build a Winning TeamEach year at the start of football practice, Vince Lombardi, the coach of the Green Bay Packers started his season the same way. His opening statement to his players was, “This is a football.” Every year, John Wooden, the legendary basketball coach of the UCLA Bruins started his first practice of the season by demonstrating […] The Champion CoachGreat managers view themselves as coaches more than managers. There is an old adage: “Lead people and manage things.” There is a fine line between creating and utilizing systems and processes and micromanaging details without emphasizing the power of personal interaction. Good systems and processes should allow employees to raise their performance by giving them […] How to Build Trust During a Time of ChangeChange and uncertainty often foster an environment of fear which leads to a lack of trust. The lack of trust can slow things down and create a higher cost of doing business. Building trust and restoring confidence can significantly impact bottom line results. Here are some solid suggestions for building trust during a time of […] 7 Ways to Raise Small Business Startup FinancingStarting your own business takes cash. Sometimes, it takes lots and lots of cash. For many would be business owners this need for startup money feels like an insurmountable hurdle. The good news is that there’s no reason to let the need for cash derail your business before it gets started. These 7 tips and […] |
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