Planning a strategic exit from your business takes forethought, proper planning, and professionals – especially a well-chosen attorney. In the following paper, you will receive advice on how to select an attorney to represent the sale of your business.
Selling a business is a complicated process, add to that the stress of preparing yourself and the business for the transaction and the undertaking can go south quickly. By hiring an attorney, you can alleviate some of the situational stress and enjoy the expertise of a professional. An attorney will be able to perform or provide:
Corporate Formality Support
Contract Drafting and Negotiation
Financial Planning Support
Closing and Post-Closing Activities
Hiring a professional and knowledgeable attorney is easier said than done. Following are a number of questions that should be brought up when interviewing and selecting a lawyer to represent the sale of your business.
Do you have direct experience supporting the sale of a business?
If the answer is no, then move on. Only an experienced, transactional attorney will be able to thoroughly support your business sale process. Moving a step further an attorney with experience in your industry, with your business size and deal complexity will ensure the highest level of quality.
What is your approach to negotiating and deal making?
This question takes into account how you would ultimately like the sale of your business to turn out. How does your prospective attorney think and how will they choose to negotiate the trade-offs between risk and reward. This will ensure that when it comes down to it they will be negotiating with your best interest in mind.
What is your fee structure?
Fee structure can be a deal breaker even with all other things considered. Nailing down exactly how an attorney plans to bill you will ensure that they will deliver the outcome you want at a price that won’t shock you at the end of the day.
Perform a Reference Check
The final measure of your attorney will be their reference check. How better to understand an attorney than through their previous clients, colleagues, and peers. This will shed real light on how they conduct themselves in the line of business.
A good attorney will give you guidance and counsel but an attorney specifically versed on the ins and outs of selling a business similarly aligned with your own, a great attorney, will put you on a path to a successful and satisfying transaction, by your own standards.
In today’s highly competitive market, more and more business owners are finding themselves facing the dilemma of which online marketing approach to choose. Deciding which tool to use and focus on is a nowhere-to-easy job.
Many business owners, especially those who have a small or medium company, don’t have the budget for advertising like large ones have, which is why they naturally go for campaigns that will cost them less. Because of this, so many of them choose Search Engine Optimization that has no price tag attached to it. But is SEO what you need to promote your business? Is it worth it to invest in it? There are billions of Google searches made each day. Using this search engine is absolutely free of charge and you can even earn from it. Unlike PPC advertising via Google AdWords, the organic traffic that comes to your website will not cost you anything. Gives Your Business Exposure As you know, one of the main reasons people use search engines like Google is to find solutions to their problems and answers to their questions. When people use search engines for answers and solutions, they click on about 70% of the links on the first page. So, if your website is ranking well, you will get the exposure your business needs in order to grow. Generates Traffic That Has a Good Conversion Rate According to some sources, the leads generated by SEO are as high as 14.6% close rate. This is a lot better than the 1.7% close rate you can generate from print advertising and email marketing. Depending on the industry you are working in, the users have different behavior and they are most likely to click on different links, which has a big impact on the conversion. Helps Your Business Grow As already mentioned, when you have a good online presence, your business will grow. SEO plays a big role in securing good online presence for your business and allows to increase its visibility up to 59%. And without online visibility, your targeted group of potential clients will never find you. When you have good SEO, you will have good online presence and your business will grow a lot faster. If you still don’t have a business website but want to be present online so people can find your company more easily, turning to an online marketing agency is what you should do. When you have a good-looking website with quality content and are on the first places of Google’s SERPs, you will reach your potential clients and your business will grow.
There are billions of Google searches made each day. Using this search engine is absolutely free of charge and you can even earn from it. Unlike PPC advertising via Google AdWords, the organic traffic that comes to your website will not cost you anything.
Gives Your Business Exposure
As you know, one of the main reasons people use search engines like Google is to find solutions to their problems and answers to their questions. When people use search engines for answers and solutions, they click on about 70% of the links on the first page. So, if your website is ranking well, you will get the exposure your business needs in order to grow.
Generates Traffic That Has a Good Conversion Rate
According to some sources, the leads generated by SEO are as high as 14.6% close rate. This is a lot better than the 1.7% close rate you can generate from print advertising and email marketing. Depending on the industry you are working in, the users have different behavior and they are most likely to click on different links, which has a big impact on the conversion.
Helps Your Business Grow
As already mentioned, when you have a good online presence, your business will grow. SEO plays a big role in securing good online presence for your business and allows to increase its visibility up to 59%. And without online visibility, your targeted group of potential clients will never find you. When you have good SEO, you will have good online presence and your business will grow a lot faster.
If you still don’t have a business website but want to be present online so people can find your company more easily, turning to an online marketing agency is what you should do. When you have a good-looking website with quality content and are on the first places of Google’s SERPs, you will reach your potential clients and your business will grow.
Keeping costs low is a crucial part of any business whether it be SME (Small or Medium Enterprise) or a Corporate entity. One way of lowering a businesses’ costs is through their energy usage. Selecting a suitable supplier with the right business energy contract can have a big impact on energy bills and savings.
What are the different types of business energy contracts?Fixed Energy Contract
A fixed energy contract is when a contract is drawn up with an energy supplier and a business will pay an agreed fixed rate for the duration of their contract.
There are two types of fixed contract, ‘fully fixed’ and ‘pass-through’.
Fully fixed – This is where the supplier fixes for the duration of the contract all elements that make up the pricing with the exception of government taxes. This is the most common type of contract used for SME customers.
Pass-Through – The energy supplier will fix the wholesale cost of energy for the contract duration but other elements such as transmission and distribution, carbon levies etc. that are set by the regulators will be passed onto the customer at whatever rate that is and these can change annually. This type of contract tends to be taken up by the larger energy user.
Once a contract is agreed on, a business will be locked into using the selected supplier for the duration of the contract with the likelihood of having to pay a fee if the business wishes to end the contract early.
Flexible Energy Contract
A Flexible type of energy contract can be custom-made to suit each individual business. Typically, these contracts benefit the very large energy users where they have enough volume to be able to buy in tranches throughout the year.
The benefits of a flexible contract mean that different purchasing strategies can be implemented that enables a business to hedge their purchasing against the price rise and falls of the wholesale energy market.
Still unsure of which type of energy contract would best suit your business?
Finding the right energy contract for your business can be tedious and time consuming but it is important for a business to shop around to see what is available.
Here at BAS Energy, we have helped businesses of all sizes find an energy contract that has been best suited to their needs and budgets. With our knowledge of the forever changing electricity and gas wholesale markets, we can help your business save time and money on your energy bills.
How the Business of Branding Works to Meet Your Sales and Marketing Goals
One of the most important elements in making sales is the ability to build trust and rapport with prospects.
In person it’s easy. You shake hands, strike up a conversation and build a connection.
But online sales are a bit different.
Often times you are doing business with strangers who have never met you. They have doubts about who you are, if you can create the results they are looking for, and if you are specialized enough to understand their needs.
Moreover, today’s consumers are craving more connection and authenticity from companies they do business with.
And this is where business branding comes in.
Your business brand defines who you are. It’s the heart of your business. Branding helps to identify and differentiate your business in the marketplace. It defines and positions your business in order to separate you from a sea of competitors.
Branding creates an emotional connection and turns regular customers into raving fans. But how do you build an effective brand?
Here’s 5 ways to build a business brand that will strengthen your relationship with your target market so they will be more inclined to do business with you:
1) Claim your Niche. It’s really important to define who your perfect customers are. Brands that try to appeal to a wide audience are weak.
Instead, when you define your target market with a specific niche, it allows you to speak more powerfully to their needs.
2) Be the Top Expert. Being a dentist in your home town puts you in the same class as all the other dentists in your area.
But what if you are the top holistic dentist using all-natural products running a “green” dentistry practice? That brand may attract clients from all around the country.
Accentuate your strengths. Claim your title. If you are not the best, you can be the first, the biggest, the #1 trusted choice.
Find a way to set yourself apart as top dog in your industry. Then constantly read, learn and grow to keep your leading edge. When consumers see you as an authority they’ll seek you out.
3) Be a Wow. Seth Godin talks about “Purple Cowing” your business: “Transform Your Business by Being Remarkable”. Offering VIP value to your customers helps you stand out.
Instead of just being an oil change shop, imagine if you have a cappuccino maker, offered a mini back massage, and had a big screen TV within a high-end lounge that customers could wait in. You could charge premium fees for a business with “over the top” service and amenities.
Maybe you offer “freaky fast” service like the Jimmy Johns sandwich chain. Or perhaps you offer personalized services that make your customers feel special.
Do what it takes to stand out from the crowd and be remembered for something your customers will be wowed over. The more you strive to make your existing customers feel special, the more they will tell others about you.
4) Build a Tribe. Create a community your fans can be a part of. Some ways to do that are:
a. Share frequent updates with your fan base on Social Media and in your newsletters.
b. Tell them insider information about future offers, releases or launches.
c. Give them exclusive discounts or gifts with purchase.
d. Reward them for their loyalty. We offer incentives for those who refer others to us.
e. Recognize top fans publicly.
5) Give Back. Want your brand to become legendary? Find ways to give back so your business brand leaves a legacy. Here’s some ideas:
a. Create a scholarship program
b. Align yourself with a nonprofit
c. Get involved in projects in your community
d. Pay it forward on social media
Find your own way to touch the world and leave your mark in a way that only your company can.
Struggling to Define Your Business Brand?
As much as you may love your current brand, it may not be presenting a very professional image. We can help establish a brand that showcases your business professionally. Find out more about our brand development, brand makeover, and brand communication services today!
Let’s start with what we already know to be true about Trump. About fifty percent of people love him and fifty percent of people hate him.
There doesn’t seem to be a whole lot in between.
People either like Trump or they think he is the biggest jerk to ever come down the pike.< offend certain groups of people. And by the same token, there is a similar number of people or a list of people that Trump appeals to.
So, what is the application for us, as sales professionals? The application is that you and I are very much like Trump. No matter what we do, we are going to have a significant number of people who like us and we are going to have a significant number of people that don’t like us.
Sales Training Lesson #1 Some Will Like You and Some Won’t. It is very instructive and important that you come to the realization that no matter what you do, some are going to like you and some are not going to like you. If you try to be all things to all people, and you try to appeal to every group type or individual that you come in contact with, you are going to constantly be trying to be something that you are not. And it is awfully hard to be something that you are not. You are better served if you will just be whomever it is you are and let the chips fall where they may.
In certain situations, you have to alter your communication style. Unlike Trump, who refuses to alter his communication style, we can alter our communication style without changing who we are, without changing our values, without changing things that we deem to be important. It is important that we be true to who we are, that we let people know who we are, let people know what we stand for and what we don’t stand for. It’s just as important for people to know who you are not as it is for people to know who you are.
Sales Training Lesson #2 Losers Hate Winners. It doesn’t matter what you do, when you start to win and achieve any significant degree of success and rise above mediocrity people are going to be jealous.
When you start ascending the ladder of success, particularly financial success, and it becomes obvious that you are achieving greater and greater financial success, you are going to have a lot of people, who really don’t like you and are going to take shots at you.
When I started my business in 1996, I was driving an old Honda, and my wife had a minivan.
Within just a couple years, we started to do really well. My wife got a BMW and I got a Mercedes. They weren’t brand new, but they were nice vehicles. They were certainly a step up from a Honda and a minivan.
One day at church, one of the longtime parishioners, who I thought was a friend said to me, “you know, money isn’t everything. Don’t forget to stop and smell the roses.” I thought that was an odd comment until I started to reflect upon it.
This guy lived in the neighborhood I lived in. His house was kind of run down and beat up a bit. His wife drove an old Pontiac Bonneville, which was on its last legs. He was working as an employee in a blue-collar, dead-end job. He looked at me, and he saw that I used to be in the same boat as him, but then all of a sudden I started making a quarter of a million dollars more than I had previously made and it became evident that I was doing well. It really made him uncomfortable, and the only way that he could make himself feel good was to take a shot at me.
Now, you notice this with Trump. Every one of the other Republican candidates that were running for the nomination, every single one of them, has taken a shot at him.
He probably is worth more money than all the other sixteen people he was against put together. They don’t like it and they see a way to elevate themselves. In their eyes, the way to elevate themselves is to take a shot at him. But the bottom line is, every one of them is insanely jealous of him.
They can’t stand him because he’s so successful. That comes under the heading that “losers hate winners,” and if you’re going to join the ranks of the financially elite, you’re going to have most people in life not like you because most of the people in life aren’t financially successful and they see you as something of a threat to them.
The more successful you become, the more people are going to dislike you, and that just comes with the territory.
Sales Training Lesson #3 Stand for Something. There is a principle in physics that basically works this way; the greater the attraction of two things, the greater the repulsion of those same two things. If you take two magnets and put them on the desk and face them positive to negative, they will go together instantly and you can barely pull them apart. If you then turn one of them around and put positive to positive they will chase each other all over the table and never connect.
If something works in physics, it has to also work in everything else, including human relationships. The human relations application for this is that your ability to attract is directly proportional to your willingness to repel.
If you want to learn more about human relationships and human nature, you should study physics because everything in this world is related. Everything goes together. There are no exceptions to what happens in human nature and what happens in physics. The same principles apply.
If you are afraid of offending people or insulting people because of something you say or do, you will not have a very strong attraction to other people because people are attracted to people who have strong opinions, and the stronger your opinion about something the greater the potential to attract.
The key in business is you want your message to attract your ideal client. And, quite frankly, you shouldn’t care about anybody other than your ideal client. Now, if you are offending your ideal client that’s not a good thing. But, if you offend people who aren’t your ideal client, that’s okay, because they’re not going to become your client or give you money anyway.
So how does that relate with Trump? Trump seems to repel just as many people as he attracts.
Sales Training Lesson #4 Self Confidence. If you are not right on the borderline of arrogance, you won’t be as successful as someone who exudes extreme self- confidence.
People do not buy products and services. They buy the people or the person who is doing the selling. Buyers do not buy products and services because they don’t know enough to make great, unbiased, well thought out decisions about the products and services that you and I sell.
What they do recognize, and what they are attracted to, is our supreme level of confidence about how we sell and the advice we give. They become a client because of your supreme confidence. That’s another lesson that we can learn from Trump.
When in doubt, be bold about what you’re doing. Don’t “Mickey Mouse” around, don’t be hat-in-hand, or meek and mild. Step up, be bold, and people will be attracted to that.
Sales Training Lesson #5 Personality. What does Trump really get paid for? If you listen to him, and have read and kept up with what he’s talking about, and listened to him, he doesn’t really have a great fundamental understanding of the issues. It doesn’t appear as though he has spent much time studying the issues. In fact, I’m not even sure he cares about the issues.
I think what he cares about is being Trump, and the persona of Trump. And so, what does Donald Trump really get paid to do? He gets paid to be Donald Trump.
People seem to be attracted to that personality. They don’t seem to care that he doesn’t have a clue about some of the issues and some of the things that some of the other candidates seem to have a pretty firm grasp on.
The takeaway for all of us is that we need to realize and become more of a personality-based marketer, rather than a product and service marketer. Buyers are attracted to personality. They’re drawn to a personality like a Luna Moth is drawn to a fire. They’re not going to be drawn to a product or service, because they don’t understand a product or service, but they sure as heck do understand personality. So, you and I both should spend a lot of time creating a persona, and projecting that persona into the marketplace.
Now that personality, that persona, may or may not be the real person that we are. We may be one persona in business, and another persona, or person, outside of business. That’s okay. I’ve said it before, and I truly believe this:
Selling is an acting job. If you want to learn how to sell better, take some acting lessons, because the best sales people are really actors. It’s not who they are, it’s the role they play.
When they put on their suit in the morning, it’s show time baby, and they go out and project the image, the persona, the courage and all the stuff that they need to do in order to influence and persuade people to do what they want them to do, which is to trade them their money for their product or service.