Category: Marketing

Marketing

10 Tips to Take Aim at Your Target Market

Who are your best clients? Wouldn’t you like to have more just like them? Most of us would. Start by gathering all the information you can about them. What do they have in common? Are they in the same or similar industries? The same size company? Here are some quick tips to help you take aim at your target market.

1. Pick a couple of your best clients, and...

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Manage Your In-House Appointment Setting and Lead Generation Effort

Are you planning your own appointment setting and lead generation effort? Without proper planning, lead generation programs often fail. The first and most important part of a successful program is to hire the right person. Here are six tips to help you find and train the person who can make your in-house program a success:

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10 Tips to Take Aim at Your Target Market

Who are your best clients? Wouldn’t you like to have more just like them? Most of us would. Start by gathering all the information you can about them. What do they have in common? Are they in the same or similar industries? The same size company? Here are some quick tips to help you take aim at your target market.

1. Pick a couple of your best clients, and write a brief case study about them for future use. Really consider your competitive advantages towards that market and include how...

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Middle Market Business Outlook

 Comment from Tom West:

We receive a lot of newsletters and email information from business brokers and intermediaries. Below is an excellent example of what some do. Informative, but it also sells Bob’s company. In fact I enjoyed reading it and also learned some things. If you’re going to have a company newsletter that you send to potential buyers and sellers, Bob’s is a good example of what can be done.


To all-

We enter the fifth year of tough economic conditions with some measurable positive signs for middle market transactions: SBA lending is clearly...

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2012: So, What's Changed?

The more I look at recent surveys asking who the business buyers are and why they are looking to buy (see some of those results here), the more I want to say, “So, what’s changed?”

When comparing some of these results to those found in surveys conducted 20 years ago, except for the increased use of computers and the reliance on listing sites, such as www.bizbuysell.com, not much has changed. Sure, the economy has impacted the business,

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Strategized Your 2012 Marketing Yet?

2011 is almost over – already!

In between the rush of holiday parties and family activities, did you sit down and do the business planning you promised yourself that you would do? If not, it’s not too late to make sure that 2012 gets off to a fabulous start!

The first key to a successful, long-term marketing strategy is to be flexible, but any plan is better than no plan at all, so here are a few tips to help you get started on your 2012 Marketing Campaign.

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Why Branding and Documented Systems Add Value to a Business When it's Time to Sell

 A business valuation is not about what a company is worth in the current owner's hands, it's about the company's transferable value. It's about the probability that the business will sustain its profitability and continue to grow with a new owner at the helm. Therefore, the factors that contribute to the company's stability and consistency will be examined by prospective buyers to determine the risks associated with taking over the business.

A strong brand, an intangible asset and an element of goodwill, is a desirable attribute to have in the business-for-sale marketplace. Having documented systems, also, is a factor that contributes to saleability. Both make the list of...

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Forecasting your Lead Generation’s ROI Opportunity (Part 2 of 2)

The following is a continuation from yesterday's posting.

 
Are You Marketing to the Right Target?

If the target for your lead-generation campaign isn’t focused on the most qualified group, you are wasting a lot of time, energy and money! We ask our clients two questions to determine their target market to put money into:
 
1. Where is your experience? 
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Forecasting your Lead Generation’s ROI Opportunity (Part 1 of 2)

 When considering how you spend your marketing dollars on a Lead Generation campaign, what are some of the questions you should ask? Here’s a great place to start: How many leads can you expect for each campaign’s financial outlay? What is an ‘average’ sale worth over the course of a year? Over 5 years? Can you make predictions about annual revenue? More importantly, what is the profit?

Have a handle on these numbers and you’ll have a better idea of the potential investment dollars you need to acquire those new clients. If your average revenue opportunity results in $300 for a once a year sale, then of course investing in a $5K marketing program needs to be very well thought out. For this rate of return you need a large volume of sales to make the campaign pay for itself. There’s no exact science, but most marketing experts agree that marketing requires a well planned strategy, to a targeted audience, in a consistent manner.

How Warm are Your Leads? 

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Gen X Buyers

 I'd like to share some quotes and statistics about Generation Xers taken from “Realty Bites,” Bloomberg Businessweek – September 18, 2011.

Generation Xers, the 33-to-46-years old who grew up with the breakfast club and the compact disk, are in the prime in their working lives and it isn’t pretty. At least according to a study by the Center for Work–Life Policy, sponsored by 67 companies, including Bloomberg LP. The study found an overworked, underrewarded generation.

Gen Xers who aspire to become entrepreneurs:
     Men 39%
     Women 28%

On Job Loyalty
“I’d rather know that I’m going to lay myself off than get blindsided by a boss and have security lead me out of the building.”
Even as the recession sent many GenX entrepreneurs back to corporate jobs, few see their positions as a long-term safe haven.

Answers to "Why do you prefer working independently?"

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First Impressions (Part 2 of 2)

 This article is a continuation from yesterday's posting about a potential buyer's first impressions with various brokers and franchise representatives.

OK, so what did work?

Two main things impressed me. One was one gentleman in particular who we are now working with. The other was an email that included an attachment “Questions to help you evaluate a business.” That particular broker sent it with the explanation that the questions would be helpful for us to have whether or not we chose to work with him. That got my attention. If we had not already been working with the first company, we may have pursued working with him, just because he included something in his email that demonstrated his desire to help us.

It’s hard to put into words what we liked about the one we are now working with, but I can tell you when I listened to three voicemails in one day, I literally wrote...

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First Impressions (Part 1 of 2)

Although we've been interested in owning our own business for many years, recent circumstances plunged us into a more intensive search just recently. The variety of first impression experiences has been interesting and, I believe, informative for brokers.

We inquired about a few businesses on a national business listing site, and inquired about new franchises as well. Here are some of the responses to our inquiries.

#1: Zero Response
We have heard absolutely nothing from a few of our inquiries. Obviously this did not leave a good first impression. We had noticed that some of the listings on the national listing site were not on the representing broker’s own web site and wondered if that meant they had already been sold or withdrawn but not removed from the listing site. Whatever the situation, the broker lost the opportunity to find out our readiness, our available cash to invest in a business, and what we are looking for in a business.

#2: Vague or Incomprehensible Response
While the email responses generally referred back to the specific listing we inquired about, the phone responses didn’t always do the same. In one particular voicemail, the broker

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WEB SITES - 5 Legal Tips

Web sites get stale and out of date. Laws and regulations change. If you haven't updated your Web site in the past 12 months, it's time for a review.

1. Jurisdiction Statement?

The Internet makes access to Web sites possible from anywhere on the planet. You want to make it clear that your Web site is governed by the laws of your selected state. This way, you are less likely to find yourself being sued for violating the laws of some other place.

For example, my Web site says, "This Web site shall be governed by and construed in accordance with the laws of Massachusetts, USA, without regard to its choice of law rules." http://www.smartfast.com/pages/juris.html 

2. Disclaimer?

Does your site have a disclaimer?

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“Cap X” For Business Brokers

From my perspective, each of us sells businesses all the time (I hope), and with our sellers and buyers we frequently discuss the “Cap X” (annual capital expenditures), the monies our buyers need to invest in the business annually to keep the business running and growing. Each of us, as business brokers/intermediaries, have our own business, with about 50% of us working in multi-intermediary offices, and about 50% being sole practitioners. But in almost every case, each of us “are our business” since most of us are almost wholly commission based, so our success is created by ourselves, and directly effects our income. Just because our profession has a very small barrier to entry is no reason to think that each of us, as independent businesses, do not have an annual “Cap X.” However, in our professions case, most of our “cap x” is in intangible assets, not tangible assets. Nevertheless, those expenditures are necessary to keep our businesses growing. What are some of the key expenditures for us? I suggest that two primary items are Marketing (in multiple manners) and Education. And, in our case, most of the education comes from our associations, and obviously within our particular association, association membership is directly tied to education and vice versa.

Few things in my career as a business broker have had the financial impact that

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When Prospects Pull the Vanishing Act

 What do you do when you can’t reach your prospect …ever? How do you draw the line between optimistic persistence and wishful thinking?

Let’s look at a scenario that someone recently described to me. A few months before, he received a call from a prospect who was very enthusiastic about his product, asked a lot of questions, requested more information and set up a date for a follow-up phone call. My friend sent the information and called at the requested time. No answer, so he left a message and made a note to call again in a week if he had no response; still no answer. He was confused. His prospect had called him! Why was he suddenly getting no response? He continued calling every week or so for several weeks before asking me for advice.

In business, especially in sales, the thing we dislike most is silence – we want feedback, even a “No” is better than no answer because no means we can move on to the next prospect. Silence keeps us hanging on, hoping to hear something. So let’s look at the best ways to get a response – even if it is a no, from our prospects.

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How to Get a Testimonial Letter

Recently, I received a call from Katrina Mitchell, President of SPEAK!, who gave me an idea that I should share with you. Katrina was instrumental in helping us engage Troy Hazard as our Keynote speaker for our Annual Murphy Conference in May. Her company works with many different speakers, but after talking with me several times, she was convinced that Troy was the perfect match for our needs. For those of you that attended the conference, I am sure that you will agree with me that she was right.

Katrina called me to follow-up on the conference and make sure that everything went as planned. It was important to her that we were happy. She asked me a lot of questions about what people thought of Troy, and why he turned out to be such a good fit for us. She also wanted to make sure that she had done everything that she had promised us to make the process easy and asked if we would be willing to use her services again for our next conference. Since we were extremely happy with everything, I heaped on the praise and promised that I would never think of hiring another speaker without using the services of SPEAK!  After all, her marketing tag line is “Working with Franchisors to Find the Right Speakers-Every Time.”

After we were finished discussing the results of the conference...

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Summertime Marketing

Set the Stage Now for Great Sales This Fall

"Summertime and the living is easy," wrote Ira Gershwin, in 1943. But that was a different century. Yes, sales may be slower in some businesses during the summer, but if you are slipping off to the beach instead of setting up appointments, you won't be ready to do business when fall finally rolls around. In today's world of smartphones and iPads, people will stay connected, even when they are at the beach.

Best Kept Secret. Summer marketing is the best kept secret, because so many companies table their marketing in the summer. If you're the only one sending a postcard or making a phone call, you have a much better chance to be noticed than in the midst of all the "noise" of September, when people are scrambling to make up for time lost. Plus, while you've already got meetings lined up with those larger companies...

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62 Reasons for Sellers Hiring Brokers

by Ted J. Leverette

Do you have a response ready for sellers hesitant to use a business broker?  Arm yourself with numerous reasons why using a business broker benefits the seller.

  1. Access broker or advisor’s database of potential buyers and investors
  2. Advertising run and paid by broker
  3. Affiliated brokerage or advisory offices may attract more buyers
  4. Assistance during escrow closing
  5. Background check on potential buyers run by broker or advisor
  6. Broker or advisor can confer with seller, legal and tax counsel about terms of sale
  7. Broker or advisor understands and can depersonalize negotiations
  8. Brokers and advisors enable buyers and sellers to access a broader pool of potential partners
  9. Brokers and advisors have broader third-party prospective from done deals and failed deals
  10. Brokers and some advisors know how to sell businesses; most sellers don’t
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CONTRIBUTORS

Tom West
BBP Co-Founder  ~  Massachusetts

Tom is a founder and past president of several large business brokerage firms and is also a founder, past president, and former Executive Director of the International Business Brokers Association (IBBA).  He has authored and co-authored several books, is editor of all 21 editions of The Business Reference Guide, and is often quoted in a variety of national newspapers and periodicals.

Email 


Loren Marc Schmerler
Bottom Line Management, Inc.  ~  Georgia

Loren CPC, APC is President and Founder of Bottom Line Management, Inc. He has been a business broker since 1986 and a business consultant since 1970. Loren represents sellers and buyers and has qualified for the 2012 Georgia Association of Business Broker’s Million Dollar Club.

Email  |  Web



Robert Flynn
Managing Partner of United Brokers Group, LLC ~ Rhode Island
Robert has been a business brokerage firm owner for nine years. Prior to that period he was a Senior Executive in two public and privately held technology and manufacturing businesses for twenty-eight years. From 1982 to 1996 Robert was a Senior Executive at the publicly traded +$3 billion (USD) London-based Cookson Group. He managed technology and manufacturing companies in England and the United States with a particular emphasis on startup and turnaround situations. Robert is also a licensed Rhode Island real estate salesperson and has owned five businesses.

 

Email  |  Website 1  |  Website 2 


Bob Sweeney
President of Innovative Travel Acquisitions, Inc. (ITA) ~ Georgia
Bob founded the Atlanta-based travel and tour business brokerage firm in 1991 after a successful 9-year career on Wall Street. Known as the "Matchmakers for the Travel and Tour Industries", ITA is a member in good standing with the American Society of Travel Agents (ASTA), the National Tour Association (NTA) and the International Business Brokers Association (IBBA). ITA operates a confidential platform LINKING buyers and sellers of travel and tour related companies throughout North America.

Email  |  Website  


Darrell Arne
Founder of Arne & Co.  ~  New Mexico
Darrell began his professional career in public accounting in 1970. In 1983, Darrell formed his own CPA practice, with emphasis on business valuation; by 1992, he had earned the Accredited Senior Appraiser (ASA) designation in business valuation. He then earned the Certified Business Intermediary (CBI) designation in 1995, and Certified Merger & Acquisition Advisor (CM&AA) designation in 2008. He discontinued practicing in public accounting in 1994 when he formed Arne & Co., specializing in exit strategy planning for business owners, business valuations, business acquisitions & sales, business dispute mediation, part-time CFO services, and developer of business training seminars. 

Email  |  Website  


Jean D. Sifleet, Esq.
Business Attorney and Creator of Smart Fast®  ~  Massachusetts
Jean began her career with big law and accounting firms. She did a stint in state government, and then moved to the computer and communications industry. Frustrated with bureaucracy, Jean co-founded and sold two successful companies.  Today, Jean practices business law. She enjoys working with people who are starting a company, or who want to grow their company and stay out of trouble. Her advice is grounded in her first-hand experience as an entrepreneur as well as her knowledge of law, finance and management.  Calling herself a nontraditional lawyer, Jean uses Smart Fast®, a practical and systematic approach to evaluating options and making informed decisions. 

Email  |  Website


Ron Johnson
Chairman, ABI Business Sales, Mergers & Acquisitions  ~  California
Ron is Chairman of ABI Business Sales, Mergers & Acquisitions, which was established in San Ramon, CA, in 1984. Ron has been the intermediary in over one hundred transactions since entering the profession in 1991, and has managed, for his associates, many hundreds of additional transactions. Ron is well recognized nation-wide in his profession, having served 10 years on the Board of Directors of the California Association of Business Brokers (CABB), including two terms as President of the CABB.

Email  |  Website


Ralana Shelley
Certified Business Intermediary, Sunbelt  ~  Indiana
Ralana comes to the table with over eight years of experience in the Business Brokerage industry. Prior to making the transition to Business Broker, Ralana specialized in Marketing small to mid-sized businesses in the Indiana marketplace in her role as Marketing Manager for Sunbelt. 

Email  |  Website 1  |  Website 2  |  Website 3  |  Blog  |  LinkedIn  |  Twitter


Rose Stabler
Certified Business Brokers (CBB), Managing Partner ~  Texas
Rose has 25 years of business experience from serving in management and consulting positions in the Oil & Gas, Biotechnology, and Manufacturing industries to working for private equity giant Forstmann Little & Company to starting, building and selling an online promotional product firm that featured her own line of items. Rose serves as business advisor on the Houston Business Show on CNN650 and appears regularly on the Movers and Shakers panel discussion segment of Houston Manufacturers Show. Rose has published many articles about the process of buying and selling businesses and has contributed to Inc. Magazine. 

Email  |  Website 1  |  Website 2  |  Website 3  |  Blog


Wayne Quilitz
Murphy Valuations, President ~  Florida
Wayne's experience includes 28 years in electrical engineering and marketing in the electronics industry.  He served in the U.S. Navy, worked for Boeing Aerospace and Texas Instruments, and owned/operated a retail store for five years before joining Murphy Business and Financial Corporation.

Email  |  Website 


Richard L. Kolman
Franchise Note Buyers, LLC, President & Principal Owner ~  San Diego, CA

Richard has long served as trusted in-house legal counsel for some of the nation’s leading franchising companies. Rich began his franchise legal career in 1988 as a Corporate Attorney in the Legal Department of McDonald’s Corporation. He recently retired from the UPS Legal Department, following eleven years as Senior Franchise Counsel for The UPS Store and Mail Boxes Etc. (4,400+ franchises).  Despite the current adverse national economy, Franchise Note Buyers and its strategic underwriters bring unparalleled access to large sums of liquid capital needed to quickly fund numerous Franchise Notes at top-dollar prices.

Email  |  Website  |  Blog 


Bill Martin
ABMI, USBIZCORP and USFRANBIZ Founder  ~  Missouri

Since starting as an agent in 1982, Bill's career has included the building of business brokerages from scratch in over 20 cities coast to coast.  He is the founder of United States Business Brokers, Inc (USBIZCORP) and USFRANBIZ, Inc.  Bill has been involved in the sale of almost 4,000 different business acquisition transactions. He has also had articles and opinion memo’s published in trade publications, and is a nationally recognized trainer and mentor in the business brokerage industry.

Email


Russell Robb
Managing Director, Tully & Holland, Incorporated ~ Massachusetts

Russell Robb is a 20-year veteran in the mergers and acquisitions business, providing investment banking and corporate finance advisory services to a wide range of middle market companies. His transaction experience includes numerous companies in the consumer products industry, as well as a broad array of other manufacturing and distribution companies in various industry sectors. Russ is the past president and owner of two sporting goods manufacturing/retail companies. He is a published author of Selling Middle Market Businesses and the former editor of a highly regarded monthly M&A industry newsletter. 

Email


Len Krick
Sunbelt Owner, CBI, M&AMI ~  Las Vegas, NV
Len, owner of the Sunbelt Las Vegas office, is a Certified Business Intermediary ("CBI"), a Merger & Acquisition Master Intermediary ("M&AMI"), and holds a Nevada Real Estate Broker License. He has over twenty years of business and business consulting experience and is an active member, moderator and speaker for the International Business Brokers Association ("IBBA"), the Las Vegas Business Forum, and the Las Vegas CFO Group.

Email  |  Website


Ted J. Leverette
"Partner" On-Call Network, President 
Ted, The Original Business Buyer Advocate ®, has consulted with thousands of business buyers and owners on buy/sell, valuation and business improvement since 1974. Since 1993 he has taught affiliates in the USA and Canada, who independently own and operate their consulting practices, The Street-Smart Way to Become a Business Consultant™. He has been a lecturer for trade associations and author of texts, articles and the book, How to Get ALL the Money You Want For Your Business Without Stealing It™.

Email  |  Website


Ed Teixeira
FranchiseKnowHow, LLC ~  New York
Ed is the founder and President of FranchiseKnowHow, LLC a franchise-consulting firm. Ed has worked in the franchise industry for thirty years and has served as a corporate executive for firms in the retail, manufacturing, healthcare and technology industries. He has been involved with over 1,000 franchise locations and has transacted international licensing in Europe, Asia and South America. Ed is the author of Franchising From The Inside Out.

Email  |  Website


Jeff Fabian
Fabian, LLC ~  Baltimore, MD
Jeff is founder of Fabian, LLC, a boutique law firm headquartered in Baltimore, Maryland that provides trademark and copyright protection and contract drafting and negotiation services for businesses, artists, entertainers and athletes. He has published scholarly articles on trademark use in the Internet context and state franchise relationship laws, and has co-authored numerous articles appearing in various legal, business and industry publications.

Email  |  Website 1  |  Website 2  |  Twitter 


George D. Abraham
Business Evaluation Systems, CEO 
George has been involved in the transfer of over 450 businesses and performed over 12,000 appraisals in the past 32 years. Two of the appraisals Mr. Abraham was involved in passed the scrutiny of the World Bank. His company was the first in the nation to develop and gain national attention for its unique and highly accurate business evaluation software programs.  George is a licensed Real Estate Broker, Real Estate Appraiser, Business Appraiser, Machinery and Equipment Appraiser, Board Certified Business Broker, Certified Environmental Inspector, Certified Business Intermediary, Licensed State Property Tax Consultant, Accredited Review Appraiser, and Certified Business Counselor.

Website


Clyth MacLeod
Clyth MacLeod, Ltd. Managing Director ~ New Zealand
Clyth has over 40 year's experience in business broking and business valuation. yth is also a director of Business Appraisals Ltd (business valuers), BizStats Ltd (a national database of business sales information) and Australasian Business Valuations Ltd (consultancy).As well as authoring many articles and texts Clyth has lectured nationwide and overseas on business sales and valuation for many organisations including the Institute of Chartered Accountants of New Zealand and the International Business Brokers Association in the USA. The only business broker to be awarded a Life Membership by the Real Estate Institute of NZ and a Fellowship by the International Business Brokers Association he remains active in the industry and committed to leading a professional team.

Website


Jack R. Sanders
Spectrum Corporate Resources, LLC Managing Director
Jack has been an active full-time business intermediary since 1985. He has personally handled over 130 business transfers and has appraised over 1,450 businesses. He is also the author of the “BIZCOMPS®” studies, a leading authority on the market value of small and medium business in the United States and Canada. The studies contain actual transaction information on over 12,000 transactions and are marketed in both print and electronic form. Jack is also an instructor in educational courses leading to the Certified Business Intermediary designation.

Website


Christopher George
George & Company, President ~  Worcester, MA
Christopher is a Certified Business Opportunity Appraiser, Company President, and also a past president of the Association of New England Business Brokers. Chris has been engaged in the appraisal, sale and financing of small to mid-sized businesses since 1971. He has personally aided buyers & sellers in thousands of sales and appraisals.

Email  |  Website  |  LinkedIn  |  Facebook

 


Roger Murphy
Murphy Business & Financial Corporation, President / CEO ~  FL
Roger is a Certified Business Intermediary and Master Certified Business Counselor with over 25 years experience in executive management and financial management. He is the President / CEO of Murphy Business & Financial Corporation, one of the largest and most successful business brokerage firms in North America with business brokers located throughout the United States and Canada. Murphy Business specializes in businesses for sale, franchises, business valuations, and commercial real estate.

Email  |  Website 


Amanda Puppo
MarketReach Inc., CEO & Founder  ~  Lawrenceville, NJ

During her dealings with various companies, Ms. Puppo became aware of an apparent general aversion towards the application of the cold-call, while at the same time, realizing its importance in business. In March, 2001 at the age of 26, Ms. Puppo created MarketReach Inc. MarketReach does cold-calling/lead generation and market surveys, so clients can spend their time building their business and servicing their customers. MarketReach was named a Finalist in the Most Innovative Company category in The 2004 Stevie Awards for Women Entrepreneurs. 

Email  |  Website   |  Twitter

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