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Digg it UP - The Impact of the Age Wave on Business Values
So you’ve done your homework (or are planning on being diligent about it at least). And you’ve decided to definitely forge ahead and gain a patent on your invention. So now what? Well, first of all, be warned that patenting your invention will cost you several thousand dollars. The fee varies widely; you will ultimately need to receive an estimate from the professional you choose.So wait a second, who should you choose? How do you choose them? Can’t you just do all this yourself?OK, let’s address these questions one at a time. Yes, you actually can patent your invention without the help of a professional. You can also do all your taxes yourself, put in a new transmission the next time your car needs a new one, and go out and start building
The American Family Business Survey sponsored by MassMutual showed that approximately 30% of these owners plan to sell their business to a third-party buyer. Another 30% plans to sell to a family member, while another 18% plan to sell in some manner to current employees. The remainder plan to close and liquidate the bus
Did you ever wonder what happens to all that government equipment that is purchased each year by federal, state, and local governments? They don’t just throw it away! By law, all unused and out-dated equipment must be sold back to the public at a public auction! That’s right. Everything is available to you and I the American taxpayer. There are primarily two ways that the government does this: on- site auctions or online auctions.At an on-site auction, the government agency disposing of the property must usually post a public notice about the auction such as the location, date, time, and items to be auctioned off. There is usually an inspection period, especially if there are high-priced items that are to be auctioned off. Bidding is usual
The baby boomer generation has been one of the most entrepreneurial generations in the history of our country. During the last 30 years over 5 million businesses with annual revenues ranging from $1 million to $75 million were founded. The owners of most of these businesses are now 50 years old or older and beginning to think about retirement. Recent studies by PriceWaterhouseCoopers, MassMutual and Marquette University showed that one out of two businesses will change hands between 2006 and 2016.
Ken Dychtwald, a nationally respected demographic expert and author of AgePower has written extensively on the topic of the aging of the baby boomer generation and advised multinational corporations and governments on how to prepare for the impact that the aging of our society will have on our economy, healthcare systems, infrastructure, etc. Dychtwald calls the aging of our population the "Age Wave". He makes the persuasive case that demographic trends like this are predictable, unavoidable, and need to be understood and planned for so that they don’t overwhelm us. Dychtwald believes that, if properly understood, such trends can be tremendous opportunities.
Just as the Age Wave threatens the solvency of the Social Security system, the wave of private business owners seeking to retire will seriously strain, and possibly overwhelm, the available supply of buyers and the available capital for business transactions as these owners approach retirement. Given the significant increase in business owners wanting to retire over the next ten years, experts expect that the increased number of businesses for sale may create a case where supply exceeds demand. If we all think back to Economics 101, we know that when supply exceeds demand, prices tend to drop.
The American Family Business Survey sponsored by MassMutual showed that approximately 30% of these owners plan to sell their business to a third-party buyer. Another 30% plans to sell to a family member, while another 18% plan to sell in some manner to current employees. The remainder plan to close and liquidate the bus
You’ve probably seen the adverts about businesses and energy efficiency. They usually concentrate on the environmental benefits – namely, if we use less energy, we pump less harmful gases into the environment. Obviously this is a worthy reason in itself. But, there are other motivations for businesses to monitor their energy usage and stop wastage – for instance, saving on bills.Paying less on energy bills brings immediate savings to the bottom line. According to the Carbon Trust, a 20% saving in energy usage – realistically achievable by most businesses – can have the same positive effect as a 5% increase in sales. And, the bonus: because saving energy does lead to a healthier environment, there are government incentives to make investment in energy eff
Ken Dychtwald, a nationally respected demographic expert and author of AgePower has written extensively on the topic of the aging of the baby boomer generation and advised multinational corporations and governments on how to prepare for the impact that the aging of our society will have on our economy, healthcare systems, infrastructure, etc. Dychtwald calls the aging of our population the "Age Wave". He makes the persuasive case that demographic trends like this are predictable, unavoidable, and need to be understood and planned for so that they don’t overwhelm us. Dychtwald believes that, if properly understood, such trends can be tremendous opportunities.
Just as the Age Wave threatens the solvency of the Social Security system, the wave of private business owners seeking to retire will seriously strain, and possibly overwhelm, the available supply of buyers and the available capital for business transactions as these owners approach retirement. Given the significant increase in business owners wanting to retire over the next ten years, experts expect that the increased number of businesses for sale may create a case where supply exceeds demand. If we all think back to Economics 101, we know that when supply exceeds demand, prices tend to drop.
The American Family Business Survey sponsored by MassMutual showed that approximately 30% of these owners plan to sell their business to a third-party buyer. Another 30% plans to sell to a family member, while another 18% plan to sell in some manner to current employees. The remainder plan to close and liquidate the bus
IT/ERP/MRP consulting industry is currently under the transformation. This process is usually happening and comes in parallel with new economic recovery and change in the business paradigm. We’ll try to appeal to historical excurse and give some hints on the future trends. In our case we work with such products as Microsoft Business Solutions Great Plains, CRM, Navision, Retail Management System (RMS) and cross integrations between them and non-Microsoft products: Oracle, Lotus Notes Domino, Unix & Java platforms: J2EE, EJB, Bea Weblogic, Websphere, etc. Let’s look at the history and the current processes:• Classical Business Consulting. It was flourishing back in 1950th and had two major schools or directions. It was the time when large businesses
Just as the Age Wave threatens the solvency of the Social Security system, the wave of private business owners seeking to retire will seriously strain, and possibly overwhelm, the available supply of buyers and the available capital for business transactions as these owners approach retirement. Given the significant increase in business owners wanting to retire over the next ten years, experts expect that the increased number of businesses for sale may create a case where supply exceeds demand. If we all think back to Economics 101, we know that when supply exceeds demand, prices tend to drop.
The American Family Business Survey sponsored by MassMutual showed that approximately 30% of these owners plan to sell their business to a third-party buyer. Another 30% plans to sell to a family member, while another 18% plan to sell in some manner to current employees. The remainder plan to close and liquidate the bus
If you want your front-line staff to remember the essentials of customer care, there’s no better way to teach them than with the ABC of Superior Customer Service.A is for Attention to Detail. Because when customers know you care passionately about the little things, they’ll know you care a great deal more about the big things.B is for Benefits which is all your customer wants you to tell them.C is for Complaints, your free marketing service.D is for Dedicated staff, because when the team is fully engaged, customer loyalty goes up by two-thirds.E is for Empowerment which means trusting and training your staff to do whatever it takes to thrill the customer.F is for Feelings. As the Scottish Life advert says: “Make each cu
Just as the Age Wave threatens the solvency of the Social Security system, the wave of private business owners seeking to retire will seriously strain, and possibly overwhelm, the available supply of buyers and the available capital for business transactions as these owners approach retirement. Given the significant increase in business owners wanting to retire over the next ten years, experts expect that the increased number of businesses for sale may create a case where supply exceeds demand. If we all think back to Economics 101, we know that when supply exceeds demand, prices tend to drop.
The American Family Business Survey sponsored by MassMutual showed that approximately 30% of these owners plan to sell their business to a third-party buyer. Another 30% plans to sell to a family member, while another 18% plan to sell in some manner to current employees. The remainder plan to close and liquidate the bus
In my practice I’ve come across all sorts of interview feedback from my clients, but this one stands out as being worthy of bringing to your attention.This is an account of John’s interview and the interviewer who wouldn’t stop talking.With all of my clients we cover the importance of interview preparation; knowing what you have to offer and being able to discuss why you want the job and are the most suitable candidate. In addition having the confidence to conduct the interview on an equal footing with the interviewer so you can make your decision about whether the job is right for you.All of this depends on actually taking part in the interview of course and if the interviewer – through incompetence or other reason – doesn’t allow that, wh
The American Family Business Survey sponsored by MassMutual showed that approximately 30% of these owners plan to sell their business to a third-party buyer. Another 30% plans to sell to a family member, while another 18% plan to sell in some manner to current employees. The remainder plan to close and liquidate the business.
For those business owners who intend to sell to a third-party, it will become increasingly important that they position their business to sell successfully in an increasingly competitive market. With one out of every two business owners looking to sell over the next 10 years, there will be a glut of businesses on the market. Now, more than ever, it will be important that a business owner focus should be on doing everything he or she can to increase the attractiveness, value, and salability of the businesses.
Tragically, the PriceWaterhouseCoopers study showed that approximately 75% of private business owners have no strategic exit plans in place. An additional 25% have done little or no estate planning. This is a recipe for disaster.
An exit plan is a comprehensive, integrated plan that asks and answers all of the personal, business, legal, financial, tax and estate issues that are involved in exiting from a privately owned business. This plan shows business owners how to begin positioning themselves and their businesses so that the owners accomplish all of their personal, financial and business goals when they exit.
Given the number of companies coming to market, business owners will need to focus on improving profitability, building a management team, and growing revenue in order to make their companies more attractive and maximize the proceeds they receive at the time of exit.
Exit planning delivers tangible results for savvy business owners. It is not uncommon for companies that have invested the time and effort to prepare themselves for sale to sell for a significant premium over companies that come to market unprepared. In addition, with good planning business owners are often able to reduce or in some cases eliminate the capital gains taxes due at the time of sale. This dramatically increases the after-tax net proceeds that owners keep. But the most often overlooked component of exit pl
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