Saturday, August 9, 2008
Quiting Time
Closing down a business is never easy. Perhaps you started a business years ago and have been just barely eeking out a living. When is it time to give up, admit defeat and move on?
You finally realized your dream of owning your own business. But now several years have passed, and your dream is starting to feel more like a nightmare.
The company's inability to turn a profit is taking its toll, leaving you with the nagging question, "When is enough, enough?"
The simple fact is that many small business owners allow their companies to limp along for years before they finally pull the plug. Calling it quits can be an emotional decision for an entrepreneur and common sense often takes a back seat to a business owner's desire to see his business succeed. Even so, there are certain questions you just can't ignore when determining whether or not to press forward in the hope of a miraculous turnaround.
Why isn't my business successful?
When you started your business, you were convinced it was the best idea since sliced bread. If that's true, you need to ask yourself why your business still isn't a success. The problem could be as simple as overstaffing or poor cost management. On the other hand, the problem could also be that the marketplace isn't as enamored with your idea as you are. Either way, you need to identify the source of the problem. If it's correctable - great. Make the necessary adjustments and move ahead. But if the problem isn't correctable, maybe it's time to pack it in.
What is the cost of staying in business?
Another question you need to ask yourself is what it will cost you to continue to do business. Tabulating the financial cost of staying in business is the easy part. The hard part is calculating the intangible costs of doing business on a go-forward basis. Personal stress, strained family relationships, and loss of personal morale are factors that need to be carefully weighed against the possibility that your company may eventually experience a turnaround.
Something else to consider is how many other opportunities you will be forced to pass up if you decide to wait out another year of negative profits. It's not unusual for small business owners to use their entrepreneurial experience as a tool to re-enter the workforce or to attract investors for a new business startup in an industry with a higher probability of success.
Do I still like what I do?
The most accurate indicator that it's time to close the doors is when you no longer enjoy operating the business you once loved. And if you're not enjoying yourself anymore, there's a good chance your employees and investors aren't enjoying themselves, either. Although you don't want to disappoint the people who are counting on you, most of them will appreciate your willingness to call it quits now rather than dragging them through five more years of losses. So, if a trip the dentist sounds more appealing than a trip to the office, do everyone a favor and begin the process of closing up shop.
Tips for Maximizing your Business Sale price
Just as you market your products and services to attract customers, it's important to market you business in a way that maximizes its value in the eyes of prospective buyers. Here are a few tips for getting a great price when you sell a business.
Think you know what your business is worth?
There's no guarantee that you'll get what your business is worth when it comes time to sell it in the open market.
But with the right strategy, you can sell your business for what it's worth - and then some. To help you get started, here are five tips for maximizing the sale price of your company.
Have a Plan for Selling Your Business
Theoretically, selling a business would seem to be a lot like selling a home. You decide to sell, find an agent, put it on the market, and voila! - a buyer magically appears. In reality, selling a business and selling a home are two completely different things. To avoid being shortchanged, you need to start your preparations twelve to eighteen months in advance with a comprehensive timeline for due diligence preparations, the valuation process, and a marketing plan.
Create a Broad Customer Base
What's more attractive to potential buyers: A business with 100 customers, each representing 1% of the company's sales or a business with 1 customer representing 100% of the company's revenue? If your company relies heavily on a few key clients to make ends meet, you should consider making a concerted effort to attract new customers prior to the sale. A broad customer base means greater security for buyers, and in most cases buyers are willing to pay a little extra for the peace of mind that comes from knowing that the business won't fold if they lose one or two existing clients.
Book Contract Income
Guaranteed income streams are always more attractive to potential buyers than sales forecasts. If your business lends itself to the possibility of contracted income streams such as licensing fees, retainers, or other contractual arrangements, you should make a concerted push to lock-in clients before putting your business on the market. The result is increased leverage during the negotiation phase because instead of dealing with possible income figures, you're dealing with hard numbers.
Seek Professional Assistance
Although it's possible to sell your business without any professional assistance, a do-it-yourself approach is one of the surest ways to leave money on the table. For good reason, buyers have more confidence in financials prepared by a professional accountant, appraisals performed by a professional appraiser, and legal documents prepared by a professional attorney. You may also want to consider enlisting the help of professionals in preparing your business for sale and marketing it potential buyers.
Be Patient When Selling a Business
If you need a quick sale, there's a good chance you won't get top dollar for your business. It's not unusual for businesses to be on the market for months or even years before the right buyer comes along. However, if the process drags on too long, you may eventually need to weigh the decision to hold out for top dollar against the cost of holding on to the business for another six months or more.
Choosing an Investment Banker
Investment bankers can help you to sell your business, but not all investment bankers are created equal. Here are attributes to look for when you are choosing an investment banking firm.
Most business owners approach the task of selling their company in traditional terms, crossing their fingers and hoping for the best in the commercial marketplace.
If that approach doesn't sound appealing, you may have another alternative. But to get there, you're going to need the help of an investment banker.
An investment banker is an agent for an organization that helps private companies convert ownership equity into securities in the primary market. By issuing an IPO (Initial Public Offering), a good investment banker can be a godsend, raising significant capital for business owners and propelling the company into its next stage of life.
The process typically goes something like this: A company selects an investment banker, who in turn guarantees the company a specific amount of capital minus a fee. The investment banker then proceeds to raise the guaranteed capital through the IPO, but assumes all of the risk should the IPO fail to attract the necessary investors. Not a bad deal, right?
In reality, the success of your relationship with an investment banker will depend largely on two factors: Your company's stage of life and the quality of the investment bank itself. Investment banks are most interested in established, mature companies. Although younger start-ups can conceivably attract an investment banker, the pool of potential candidates will likely be substantially smaller and the deal will be less beneficial for the business owner.
If your company is well-established and mature, the only thing standing between you and investment banking success is the selection of a top-rate investment banker. Here are some of the most important characteristics to look for when choosing investment bankers:
Relationship - Relationships are built on trust, and a relationship with an investment banker is no exception. You've got a lot riding on the outcome of this relationship, so when screening potential investment bankers you need to take into account the candidate's likeability, communication style, and trustworthiness. If you don't mesh with an investment banker during the initial interview, keep looking.
Expertise - Investment bankers often specialize in certain industries and market sectors. It's important to find an investment banker who knows the ins and outs of businesses similar to yours, and is able to value your company for what is truly worth. Remember: The investment banker's job is to sell your business to potential investors. The more he knows about your business the easier it will be for him to attract investors, which translates into a higher amount of guaranteed capital in your pocket.
Experience - There is no substitute for experience in investment banking. Since the nature of investment banking is somewhat speculative, the person you choose to represent your company's interests needs to be confident in his ability to bring in the highest possible price in the IPO. Inexperienced investment bankers often lack the confidence required to fight for your last dollar.
Is your Business selling?(How to sell your business)
Since she needed mpre insight as to how to sell one's business, I am attching this very brief write-up to that effect.
Selling Your Business
How to Sell a Business
Wondering how to sell your business? This article explains how to sell a business. It introduces you to the basic processes involved in selling a business and introduces you to key players (e.g. business brokers) that you may want to get involved.
For many small business owners, selling a business represents the culmination of their entrepreneurial career. You’ve worked very hard to build your business and make it what it is today. Now it’s time to slow down and enjoy the fruits of your labor.
Ironically, your final task – selling the business – can also be the most stressful. One way to minimize that stress is to take a deep breath and begin to deliberately work through a step by step process.
Step #1: Self-assessment
The first thing you need to do is to assess your reasons for wanting to sell the business. You have to be 100% sure about your decision because once it’s done there is no turning back. This is also the time to ask yourself what you hope to achieve in the selling process, i.e. what is the minimum amount you can afford to receive for your company.
Step #2: Valuation
Business valuation can be tricky. Discerning a fair and objective price for your company will require you to calculate its worth based on one or more generally accepted methods of business valuation. Do your best to set aside your emotional connection to your company. Otherwise you are likely to end up an inflated value for your company that is out of line with the market.
Step #3: Get your business ready for sale
When you sell a house, there are usually things that need to be done to prepare it for sale and make it presentable to potential buyers. The same is true when you sell your business. Potential buyers will want to examine assets such as buildings and equipment firsthand. But they’ll be even more interested in your business’ financial statements.
With the help of your accountant, prepare a packet of financial information that accurately reflects the financial condition of your business. Make copies of it to be used later when you begin to meet with potential buyers.
Step #4: Consult with a team of professionals
Once you have done what you can to prepare your business for sale, it’s time to bring in the pros – an accountant and lawyer for sure, and possibly even an appraiser and business broker. The pros may suggest may make additional suggestions regarding valuation and preparation. However, don’t feel the work you have done beforehand is wasted. By doing some of the work in advance, you gain perspective about the selling process. You might also save a little money.
Step #5: Screen potential buyers
Not everyone who expresses interest in your business will be a serious buyer. Some people shop for businesses like other people window shop for shoes. The problem is that showing your business to potential buyers takes time. Rather than waste your time with insincere customers, it is much better to screen buyers in advance and only meet with those who are truly serious.
Note: Do not give out any information about your business until you have pre-qualified potential buyers! It is not unheard of for competitors to disguise themselves as buyers in order to gain information about the competition.
Step #6: Finalize the sale
Once a deal has been negotiated it is up to the attorneys and lenders to finalize the sale. All you have left to do is sign a few papers and ride off into the sunset.
Thursday, February 28, 2008
What is 3G


3G refers to the third generation of developments in wireless technology, especially mobile communications. The third generation, as its name suggests, follows the first generation (1G) and second generation (2G) in wireless communications.
The 1G period began in the late 1970s and lasted through the 1980s. These systems featured the first true mobile phone systems, known at first as "cellular mobile radio telephone." These networks used analog voice signaling, and were little more sophisticated than the repeater networks used by amateur radio operators.
The 2G phase began in the 1990s and much of this technology is still in use. The 2G cell phone features digital voice encoding. Examples include CDMA and GSM. Since its inception, 2G technology has steadily improved, with increased bandwidth, packet routing, and the introduction of multimedia.
3G includes capabilities and features such as:
* Enhanced multimedia (voice, data, video, and remote control).
* Usability on all popular modes (cellular telephone, e-mail, paging, fax, videoconferencing, and Web browsing).
* Broad bandwidth and high speed (upwards of 2 Mbps).
*Roaming capability throughout Europe, Japan, and North America.
While 3G is generally considered applicable mainly to mobile wireless, it is also relevant to fixed wireless and portable wireless. A 3G system should be operational from any location on, or over, the earth's surface, including use in homes, businesses, government offices, medical establishments, the military, personal and commercial land vehicles, private and commercial watercraft and marine craft, private and commercial aircraft (except where passenger use restrictions apply), portable (pedestrians, hikers, cyclists, campers), and space stations and spacecraft.
3G offers the potential to keep people connected at all times and in all places. Researchers, engineers, and marketers are faced with the challenge of accurately predicting how much technology consumers will actually be willing to pay for. Another challenge faced by 3G services is competition from other high-speed wireless technologies, especially mobile WiMAX, and ability to roam between different kinds of wireless networks.
The current status of mobile wireless communications, as of July 2007, is a mix of 2nd and 3rd generation technologies.
Wednesday, February 27, 2008
3G

Is your Business worth Buying?

Thursday, February 21, 2008
Office and romance



Workplace romance is a worry to employers, but it is not the major faux pas, it may have been in earlier years. In fact, a Society for Human Resource Management (SHRM) Workplace Romance Survey found that most companies surveyed do not even have a formal, written, romance policy.
Of the 617 members who responded to the SHRM survey, 72 percent do not have a written policy; 14 percent say they have an unwritten, but well understood, norm in their workplace. Thirteen percent do have a policy.
In the Journal of Management, May-June, 1998 issue, Gary N. Powell summarized the research that has been conducted over the past few decades about office romance. (He finds that this research has not been pursued with enough vigor by organizational behavior scholars, by the way. He says he reviewed the "meager scholarly literature on the subject to date.")
He found that "at some times, workplace romances present a threat to organizational effectiveness through their negative effects on participants and coworkers. At other times, workplace romances enhance workplace effectiveness through their positive effects on participants.
Additionally, "Forty-one percent of employed Americans ages 25-40 have admitted to having engaged in an office romance, according to a joint survey sponsored by Glamour magazine and Lawyers.com." The study states further that respondents had the most problems with romance when a manager dated a reporting staff person.
New Study Shows What Men and Women Look for in a Date
A recent study published in the Journal of Personality and Social Psychology entitled "Sex Differences in Mate Preferences Revisited: Do People Know What They Initially Desire in a Romantic Partner?" has discovered what men and women look for in a date. Not surprisingly, the most important qualities a potential mate could have were attractiveness and earning power.
The study also found that what people said they wanted in a partner and what their actual romantic choices were not the same at all.
To perform the study, researchers followed a group of singles along a speed dating event by questioning the participants ten days prior to the evening, watching them during the speed dates, and then questioning them again thirty days after. The evidence corroborated similar studies that have shown people in general aren`t able to accurately communicate why they choose to do the things they do. Graduate psychology student and study lead Paul Eastwick commented:
"If you were to tell me that you prefer physically attractive romantic partners, I would expect to see that you indeed are more attracted to physically attractive partners. But our participants didn't pursue their ideal in this way. This leads us to question whether people know what they initially value in a romantic partner."
Reference: Northwestern University (2008, February 14).
Friday, February 15, 2008
Going on a first Date with him or her? You need this
Choose the right outfit – Wearing provocative or inappropriate clothing risk making the wrong impression. Although your date may be familiar to you, your revealing or flashy dress could mean that you are trying too hard to impress him or her. Wear clothes that are appropriate to the venue, and at the same time your date would be familiar with.
Do not wear too much perfume – Just because you still couldn't smell the perfume from your body doesn't mean that you don't have enough of it. Apply the perfume on your pulse points such as behind the ears and on the wrists, and you're ready to go.
Consider to meet at a public place – Even if you are dating someone you know, it is best to meet him or her at a public place such as a park or a restaurant. A public place provides safety and security.
Prepare a plan – If you are familiar with your date, you should have an idea of his or hers likes and dislikes. Create a list of activities that you and your date would both love to do. Why reserve a table at an expensive restaurant if you date prefers to have a picnic by the park? Also, don't forget about your date's eating habits and allergies, or previous injuries when considering a physical activity such as football passing.
Men should still practice chivalry – We may be living in a new century, but men should still take care of women. He should open doors for women, pull the chairs for her, and letting her order first. When playing sports with your woman, make sure to be gentle—and also let her win.
Listen – Ask question and show (not pretend) that you are interested to what your date is saying. The reason why you should not pretend to be listening because your date might end up talking more about him or her rather than making it a stimulating conversation. Among those topics that are great in date conversations are work, hobbies, books, music, movies, and sports. Do not talk or ask about politics, religion, and especially former relationships.
Look at them in the eyes – Eye contact spells out your interest and attention towards your date.
Have fun – Remember that the date should be fun. Bring laughter into the conversation by bringing out your sense of humor through jokes. Make every activity light and happy. However, if you see that your date isn't laughing at your jokes, don't tell another one.
Overcoming Shyness
Stand straight – When standing, pull your stomach muscles in. Your spine would naturally align and your back is straightened. An erect stand is a sigh a confidence. Practice doing this in front of a mirror until it starts to look natural.
Do not cross your arms – The way your body poses tells something about yourself. Crossing your arms while sitting or listening to another person is a sign that you are defensive and shy. This can be stand-offish at times. Learn to avoid this mannerism to give your confidence a boost.
Make eye contact – When meeting people, it is best to look straight at them, focusing on the eyes and face. This does not mean that you are supposed to stare at their eyes, which can look frightening. Keep in mind to make your eyes “smile” by keeping a positive attitude when talking to other people.
Make the first move – Stand close enough to the other person to strike up a conversation. Catch their eye and smile briefly. If they smile back and make a direct eye contact, they are open to talking. Striking up a conversation first may be difficult at first, but would get used to it once more people talk to you and slowly building up your confidence.
Make yourself safe to talk to – When you meet someone you are interested in, be curious about this person. Ask open-ended questions (those that does not end on a yes-or-no answers) and create conversations out of mutual interests to keep the talk going.
Give a compliment – If you do not know how to start a conversation, a compliment is always acceptable. Make a truthful and personal compliment at the other person. However, steer clear from the obvious body parts and instead hone in on detail. Say something that make the other person proud, such as his or her laugh, positive attitude, or confidence among others.
Watch other people's reactions – You can tell if the other person is interested to you by the way he or she reacts towards you. If the person is happy to continue chatting with you, their smile would get wider, they would move closer and lean towards you. If they don't instantly drip with enthusiasm, don't worry because other people get nervous too.
Ask people out one after the other – A brief coffee or lunch usually works best for a first date. Start by chatting the the new person about the activity you are both participating in and then casually ask if the person would like to get together some other time.
Tuesday, February 12, 2008
Need to write a letter? Try this tips
Want to put those thoughts into words?, this tips could help!
Note: You need a Pen and a Paper to get this done!
Some people insist that the best gifts are gifts from the heart. No gift could be more personal than a love letter, and the best part is that it is a gift that can be opened and enjoyed again and again. Perhaps the ultimate total gift would be something special purchased to accompany such a love letter.
Make your letter special by starting with beautiful stationery. Write a rough draft so that you can copy it without errors.
Roll it up and tie it in a ribbon in your Valentine's favorite color, which is very possibly NOT red! Present it with one perfect flower or a delicious piece of chocolate. Present it in such a way as to make it the most special gift ever received by him or her.
If you draw a blank when you take your pen to paper, go to the library or the internet for some inspiration. Love letters have been written throughout history and treasured throughout time. Celebrated lovers would not mind helping the less famous with an inspired missive in the name of love!
Two of the most famous lovers wrote letters to stay close when they were separated by distance and world events. Napoleon wrote to Josephine, "To citizen Bonaparte, I have not spent a day without loving you; I have not spent a night without embracing you; I have not so much as drunk a single cup of tea without cursing the pride and ambition which force me to remain separated from the moving spirit of my life."
Letters were also used by secret lovers to nurture their passion. The love between the great eastern mystic and poet Kahlil Gibran and an American schoolmistress was unveiled with the discovery of hundreds of letters they wrote to each other over their twenty-seven year relationship. "Beloved Mary, I kiss your hand, dear Mary, and in kissing your hand I bless myself."
Words on paper can tell a new love what you cannot say in person. Mark Twain put aside his wit and sarcasm to court his future wife. "My dearest Livy, You are so good and beautiful… Give me a little room in that great heart of yours… and if I fail to deserve it may I remain forever the homeless vagabond I am!" His words won him a bride and a love that lasted a lifetime.
Your letter can express passion, frustration, insecurities and struggles. Even humor is allowed in love letters. After all, humor can lessen any heavy load. In seducing his third wife, John Steinbeck wrote, "I will be glad to have you give up that tinsel life of debauchery and sin and come out to G-d's country where we got purple sage. P.S. Can you bring a little sin and debauchery along? You can get too much purple sage but you can only get just enough sin."
Love doesn't need to be fresh or new to deserve a letter. The love of President Harry Truman for his "Dear Bess" is documented in their rich and abundant correspondence over fifty years. Even in the era of the telephone and the telegraph the two preferred their sentiment on paper.
Put down the telephone. Turn off the television and the computer. Grab a pen and a fresh, clean sheet of paper. Think hard and tell your true love how much you care. Your letter may someday be a part of history!
Love!....Other Languages Exists for this word.
In a couple of days, we shall be celebrating the day of love and that is Valentine.
it's no news what Valentine is supposed to celebrate but let's see what is news!
Love in other Languages.
Afghani: Dus tat darem, Afrikaans: Ek is lief vir jou, Albanian: Une te dua, Amharic: Afekreshalew, Arabic: Ana ba hibeck, Assyrian: Be ayen gadi youkh, Armenian: Yes kez serum em/Yes kezee ga seerem, Bengali: Ami tomake bhalobashi, Bulgarian: Obicham te, Cantonese: Ngo oi lei, Catalan: Testimo molt, Cebuano: Gihigugma ko ikaw, Chamorro: Hu guaya hao, Chinese: Wo ai ni, Cree: Ke say ke tin, Creole: Mwen renmen'w, Croatian: Volim te, Cuban: Tevwnol, Czech: Miluji tì, Danish: Jeg elsker dig, Dholuo: Aheri, Dinka: Yin aaniar, Dutch: Ik hou van jou, Eskimo (Inuktitut): Nagligivagit, Estonian: Ma armastan sind, Farsi: Asheghetam, Fijian (Lingo): Au domoni iko, Filipino: Mahal kita, Finnish: Mina rakastan sinua, French: Je t'aime/je t'adore, Gaelic: Gra go deo, Gallego: Queroche moito, German: Ich liebe dich, Greek: S'agapo, Gujarati: Hu tane prem karu chu, Hausa: Enaso kaa, Hawaiian: Aloha wau ia oe, Hebrew: Ani ohev otakh, Hindi: Main tumse pyaar karta hoon, Hmong: Kuv hlub koj, Hungarian: Szeretlek, Icelandic: Eg elska pig, Ilocano: Ay ayaten ka, Ilongo: Ginahugugma Ko Ikaw, Indonesian: Aku cinta padamu, Irish: Thaim in grabh leat, Italian: Ti amo, Japanese: Ai shite imasu, Kannada: Naanu nimanu preetisuthene, Kapampangan: Kalaguran da ka, Kiswahili: Nakupenda, Konkani: Hawn thuzo mog kartha, Korean: Sarang hae, Kurdish: Ez te hes dikim, Laotian: Koy huck jow, Latin: Ego te amo, Latvian: Es tevi milu, Lebanese: Ana bahibik, Lithuanian: As tave myliu, Macedonian: Te sakam, Malay: Saya cintakan kamu, Malayalam: Njaan ninne snehikinnu, Maltese: Jien inhobbok, Maori: Ka nui taku aroha mauu, Marathi: Mala tu avadto/changla wathte, Nepali: Ma timilai maya garchu, Nigerian: Inan sunki, Norwegian: Jeg elsker deg, Oriya (Indian): Mu tumaku bhala paaye, Papiamentu: Mi stima bu, Persian: Du stet daram, Polish: Kocham cie, Portugese: Eu te amo, Punjabi: Main tuhanoo pyar kar da haan, Romanian: Te iubesc, Russian: Ya tebia lybly, Samoan: Ou te alofa ia te oe, Sango: M'bi ye mo, Serbian: Volim te, Sindhi: Mukhe tosa pyar aahe, Sinhalese: Mama oyata adhere, Siraiki: Maan tenal daadha pyaar karain daahim, Slovakian: Milujem ta, Slovenian: Ljubim te, Spanish: Te amo, Sranang tongo (Surinam): Mi lobi you , Swedish: Jag alskar dig, Swiss German: I lieb di, Tagalog: Mahal kita, Tamil: Naan unnai kathelikkiren, Telugu: Naku kneemeeda prama undi, Thai: Chun ruk ter, Tigrigna: Yefkreki, Tongan: Ofa atu, Tumbuka: Nkhukutemwa, Turkish: Seni seviyorum, Ukrainian: Ya tebe kohayu, Urdu: Mai tumse piyar karta hoon, Vietnamese: Anh yeu em/Em yeu anh, Welsh: Dwi'n caru ti, Zulu: Ngiyakuthanda.
so which group do you belong?
Did you know

Sunday, February 3, 2008
Senator Barack Obama! An Icon

Year of Next Election: November 2, 2010
Previous Political Work: Illinois Senate
Committee Membership:
Senate Committee on Foreign Relations - 7
Subcommittee on African Affairs - 3
Subcommittee on East Asian and Pacific Affairs - 4
Subcommittee on European Affairs - Chair
Subcommittee on International Development and Foreign Assistance Economic Affairs and International Environmental Protection - 4
Senate Committee on Homeland Security & Governmental Affairs - 7
Subcommittee on Federal Financial Management Government Information Federal Services and International Security - 4
Permanent Subcommittee on Investigations - 4
Subcommittee on State Local and Private Sector Preparedness and Integration - 4
Senate Committee on Health, Education, Labor, and Pensions - 9
Subcommittee on Employment and Workplace Safety - 6
Senate Committee on Veterans' Affairs – 4
Hometown: Chicago
Birth: August 4, 1961
in Waikiki, HI
Professional Experience (including Military):College instructor, Attorney
Education: JD, Harvard University, BA, Columbia University
Family: Wife, Michelle, 2 children
Faith: United Church of Christ