How To Articles

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I’ve operated a successful locksmith business for many years. Recently I’ve been approached by a young man interested in purchasing half the business, with an eye to eventually taking over the entire business when I’m ready to retire in about five years. How do I determine the value of my business? 

At first glance, this may sound like a difficult question to answer. But it’s an important one if you’re considering taking on a partner, issuing stock or selling the enterprise. If you’re in the market to buy an existing small business, you want to know exactly what you’re paying for, and how that value was determined.

About the Author

This column is brought to you by the Merrimack Valley Chapter of SCORE, with nearly 70 current and former business executives available to provide free, confidential, one-on-one business mentoring and training workshops for area businesses. Call 603-666-7561 or visit merrimackvalley.score.org for information on mentoring, upcoming workshops and volunteer opportunities. SCORE is a national, non-profit organization and a resource partner of the U. S. Small Business Administration. 

 

 

Ask SCORE

            I’ve owned a successful home security business for a number of years. I put in lots of hours, think I operate efficiently, yet I find myself constantly overwhelmed trying to keep up with what’s going on in the business world and my industry. How do people keep on top of such things?

Though days still have 24 hours, and years are guaranteed to have no fewer than 12 months, it does sometimes seem as if the world is turning faster and faster. Patterns, trends and technologies that seemed rock-solid last year can spike in a different direction at a moment’s notice.

About the Author

This column is brought to you by the Merrimack Valley Chapter of SCORE, with nearly 70 current and former business executives available to provide free, confidential, one-on-one business mentoring and training workshops for area businesses. Call 603-666-7561 or visit merrimackvalley.score.org for information on mentoring, upcoming workshops and volunteer opportunities. SCORE is a national, non-profit organization and a resource partner of the U. S. Small Business Administration

Ask SCORE

            I recently launched my business as a wedding and event planner. I need to get the word out, but I don’t have a lot of money to spend on advertising. Any suggestions?

           Want to share some news about your small business? Consider issuing a news release. Formatted like a news story, a news release is designed to publicize an accomplishment, announce an event or a new service, introduce new products or services, or share helpful information that readers can use.

About the Author

            This column is brought to you by the Merrimack Valley Chapter of SCORE, with nearly 70 current and former business executives available to provide free, confidential, one-on-one business mentoring and training workshops for area businesses. Call 603-666-7561 or visit merrimackvalley.score.org for information on mentoring, upcoming workshops and volunteer opportunities. SCORE is a national, non-profit organization and a resource partner of the U. S. Small Business Administration.

4 Walls Media Group Presentation

About the Author

4 Walls Media Group 

1 Leonard Ave.

Hooksett, NH 03106

603 623-8007

http://www.4wmg.com

 

 

          After working in the industry for a number of years, I want to start my own catering business. Conversations with a couple of banks about financing have not been promising, so I’m considering approaching some friends and relatives about borrowing the startup money. Is this a good idea?         

When seeking financing help for a small business, many entrepreneurs turn to friends and family, rather than banks or other lending sources. While this approach may avert the stresses associated with loan applications and presentations before strangers, it carries its own set of risks and potential pitfalls.

About the Author

          This column is brought to you by the Merrimack Valley Chapter of SCORE, with nearly 70 current and former business executives available to provide free, confidential, one-on-one business mentoring and training workshops for area businesses. Call 603-666-7561 or visit merrimackvalley.score.org for information on mentoring, upcoming workshops and volunteer opportunities. SCORE is a national, non-profit organization and a resource partner of the U. S. Small Business Administration.  

I’m considering purchasing a local, long-established dance studio. I have the training and skills to run it, but have never bought a business before. What advice can you give me? 

          Buying an existing small business can expedite one’s way into entrepreneurship. All the upfront effort has been taken care of, as has much of the learning curve. And with staff and resources already in place, you may think stepping in and taking over is all there is to it.

About the Author

          This column is brought to you by the Merrimack Valley Chapter of SCORE, with nearly 70 current and former business executives available to provide free, confidential, one-on-one business mentoring and training workshops for area businesses. Call 603-666-7561 or visit merrimackvalley.score.org  for information on mentoring, upcoming workshops and volunteer opportunities. SCORE is a national, non-profit organization and a resource partner of the U. S. Small Business Administration. 

This is one of the 6 most current Biz Talk articles written by Certified Mentor Bill McCabe and published in the Charlotte County Florida Sunpapers twice per month.

Mobile Payment Services.   Provides a review of various mobile payment services and the pros and cons of each.

Ask SCORE

          A friend and I are considering becoming partners in purchasing an existing, somewhat successful hobby shop. I’ve known him a long time, but we’ve never been in business together. What is your opinion of partnerships?  

          The partnership has been the foundation for millions of successful small businesses. Unfortunately, it has also been the source for innumerable disputes, arguments, irreparable relationships and lawsuits, all of which exacted economic and personal costs on the people involved.

About the Author

          This column is brought to you by the Merrimack Valley Chapter of SCORE, with nearly 70 current and former business executives available to provide free, confidential, one-on-one business mentoring and training workshops for area businesses. Call 603-666-7561 or visit merrimackvalley.score.org for information on mentoring, upcoming workshops and volunteer opportunities. SCORE is a national, non-profit organization and a resource partner of the U. S. Small Business Administration.  

What is a Business Team and why should you have one in place. This article also discusses what to consider when selecting members of your business team.

Do You Have a Business Team?

You might ask, “What is a Business Team?” A Business Team is the core group of professionals to whom every business must have access. It includes an attorney, accountant, banker and insurance agent. It is this team that helps you

Ask SCORE 

        A newly hired employee has suggested that we try to more environmentally conscious in our light manufacturing business. I think it’s a good idea, but I don’t know where to begin. Can you direct me to some helpful resources?

Ask SCORE           

How “green” is your small business? That’s a good question, considering the growing awareness of environmental and sustainability issues. And it’s more than just a fad; it makes economic sense. Many green operational strategies can prove less costly in the long run, boosting your profit margin.

About the Author

            This column is brought to you by the Merrimack Valley Chapter of SCORE, with nearly 70 current and former business executives available to provide free, confidential, one-on-one business mentoring and training workshops for area businesses. Call 603-666-7561 or visit merrimackvalley.score.org for information on mentoring, upcoming workshops and volunteer opportunities. SCORE is a national, non-profit organization and a resource partner of the U. S. Small Business Administration.

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