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Will You Add? - Selling Your Business - Ten Steps to Increase Selling Price
ISO 9000 is a set of standards internationally accepted by businesses and consumers. It allows organizations to establish and monitor quality management systems. ISO 9000 standards are considered to be generic standards since they can apply to any business, product or service irrespective of the industry. They have been developed and are maintained by the International Organization for Standardization (ISO).1. What is the ISO 9000 family?The ISO 9000 family consists of three quality assurance and quality management standards, namely, ISO 9000: 2000, ISO 9001:2000, and ISO 9004:2000. The ISO 9000:2000 and ISO 9004:2000 present guidelines for performan
EFT transactions are transmitted through an automated clearinghouse. This is known as an ACH operator and is a secured and preprogrammed system. It functions as a clearing facility controlled by private organizations or a Federal Reserve Bank and is a recognized system for inter bank electronic fund transfers. The National Automated Clearing House Association (NACHA) governs these systems and is responsible for their functionality.Problems with EFT become apparent when financial institutions do not abide by the NACHA operatives and regulations. These are detailed and stringent policies related to implementation, conformity and accountability. If these guide
1. CUSTOMER DIVERSITY – If too much business is concentrated in too few of your customers, it is a negative in the acquisition market. If none of your customers accounts for more than 5% of total sales, that is a real plus. If you find yourself with a customer concentration issue, start focusing on a program to diversify.
2. MANAGEMENT DEPTH –An acquirer will look at the quality of the management staff and employees as a major determinant in acquisition price. You should make the move of assigning your successor a year in advance of your scheduled departure date. If you have a strong management team in place, you should try to implement employment contracts, non-competes, and some form of phantom stock or equity participation plan to keep these stars involved through the transition.
3. CONTRACTUALLY RECURRING REVENUE – All revenue dollars are not created equal. Revenue dollars from a contract for annual maintenance, annual licensing fees, a recurring retainer fee, technology license, etc. are much more powerful value drivers than projected sales revenue, time and materials revenue, or other non-recurri
Let's face it, companies these days are always losing equipment to theft and misplacement all because big brother isn't watching close enough. Keeping track of your company's assets should give you piece of mind and your employees some accountability. Just by putting a small asset label on their laptop or expensive piece of equipment, can sometimes mean the difference if that item makes it back or not.Asset labels come in all sizes, shapes and material types. There are companies that will print custom asset labels with your logo, barcode and specific number sequence. This can be expensive with set up fees and long lead times. The result usually is a du
1. CUSTOMER DIVERSITY – If too much business is concentrated in too few of your customers, it is a negative in the acquisition market. If none of your customers accounts for more than 5% of total sales, that is a real plus. If you find yourself with a customer concentration issue, start focusing on a program to diversify.
2. MANAGEMENT DEPTH –An acquirer will look at the quality of the management staff and employees as a major determinant in acquisition price. You should make the move of assigning your successor a year in advance of your scheduled departure date. If you have a strong management team in place, you should try to implement employment contracts, non-competes, and some form of phantom stock or equity participation plan to keep these stars involved through the transition.
3. CONTRACTUALLY RECURRING REVENUE – All revenue dollars are not created equal. Revenue dollars from a contract for annual maintenance, annual licensing fees, a recurring retainer fee, technology license, etc. are much more powerful value drivers than projected sales revenue, time and materials revenue, or other non-recurr
Incorporating in California is one of the best ways to protect personal assets from creditors and litigators. By operating a business as an incorporated entity in California, the risk of entangling in lawsuits can be diminished. The chances for having an IRS audit can be lowered. Business operating losses may also be deducted.The primary advantage of forming a corporation in California is personal liability protection. Incorporation in California helps to separate personal assets from that of the business. There is the possibility of law suits against a California Corporation. If so, there are legal provisions and UCC codes to protect owners, shareholders,
2. MANAGEMENT DEPTH –An acquirer will look at the quality of the management staff and employees as a major determinant in acquisition price. You should make the move of assigning your successor a year in advance of your scheduled departure date. If you have a strong management team in place, you should try to implement employment contracts, non-competes, and some form of phantom stock or equity participation plan to keep these stars involved through the transition.
3. CONTRACTUALLY RECURRING REVENUE – All revenue dollars are not created equal. Revenue dollars from a contract for annual maintenance, annual licensing fees, a recurring retainer fee, technology license, etc. are much more powerful value drivers than projected sales revenue, time and materials revenue, or other non-recurr
ISO 9000 grew out of BS 5750, a standard published by the British Standards Institution (BSI) in 1979. Initially, it was used only in manufacturing industries. ISO 9000 is now employed across a variety of other types of businesses. It is a set of international standards of quality management systems. ISO 9000 has been accepted by more than 100 countries as their national quality assurance standard by the end of 1997.The history of ISO 9000 dates back to Mil-Q-9858a, the first quality standard for military procurement established in 1959 by the US. By 1962, NASA (National Aeronautics and Space Administration) developed its quality system requirements for sup
3. CONTRACTUALLY RECURRING REVENUE – All revenue dollars are not created equal. Revenue dollars from a contract for annual maintenance, annual licensing fees, a recurring retainer fee, technology license, etc. are much more powerful value drivers than projected sales revenue, time and materials revenue, or other non-recurr
The world rotates around money, we all know that. We all want to find affordable ways of starting or improving our businesses, but money always seem to be an issue. So then, why don’t we direct our attention towards business grants? Think about it: we are talking about advantageous financial offers coming from the government – tempting, right? But before you make any decision, you might want to ask yourself: “How do I find the right business grants?” Should I Opt for a Small Business Grant? Few of you know that the loans for small businesses are being offered everywhere.If only are you able in your application, to prove that you’ve a sound management plan a
4. PROPRIETARY PRODUCTS/TECHNOLOGY – This is the area where the valuation rules do not necessarily apply. If strategic acquirers believe that a new technology can be acquired and integrated with their superior distribution channel, they may value your company on a post acquisition performance basis. The marketplace rewards effective innovation and yawns at “me too” commodity type products or services. Continue to look for ways to innovate in all facets of your business. If you create a technology advantage in your company, think what that could mean to a much larger company.
5. PENETRATION OF BARRIERS TO ENTRY –In its simplest form, a large restaurant chain buys a small family owned restaurant to acquire a grand fathered liquor license. Owning hard to get permits, zoning, licenses, or regulatory approvals can be worth a great deal to the right buyer. The government market is extremely difficult to penetrate. If your product or service applies and you can break through the barriers, you become a more attractive acquisition candidate.
6. EFFECTIVE USE OF PROFESSIONALS – Reviewed or audited financials by a reputable CPA firm cast a
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