Thursday, December 29, 2011

How To Find Someone Good Enough To Be Your Business Partner

Starting an entrepreneurial business venture is not as easy task. It demands huge responsibilities and tensions. Having a business partner is a good idea if you want someone to share your burden with and take decisions together. However, it is important that you realize what a huge role a business partner is going to play in your life and your business. In fact, whether your business venture will be a success or a failure is something that depends a lot on what kind of business partner you choose. If you still think that you need a partner for your entrepreneurial venture, good. Here are tips on how you choose a good one.
1. Getting a background check done on the person you are considering taking on as a partner is a good way of finding out what kind of person he is in business and personal life. It will give you a better insight into whether he is the kind of person you want to share your business with. His credibility is also something you can judge.
2. Stability is another thing you should look for in your partner; and by this we mean both personal and financial. Your partner should not be someone who is festered and stressed out in home life. Also, being financially stable is something that will let him be more interested in having the business grow rather than making more money for spending.
3. Your entrepreneurial partner is someone you should share your vision with. As an entrepreneur, you must have a goal or 'vision' for your venture as you see it a few years down the line. Your partner should be someone who shares that dream and is interested in making it work. Having a shared business vision spells success.
4. Having a compatible business sense is very important in a business partner. A lot of times it happens that one doesn't share the same business sense with his business partner and that makes the venture fall apart. Having similar leadership sensibilities and dealing methods will ensure that your business partner is someone you can relate to.
5. Deciding beforehand what kind of work-sharing you are going to have with your partner is important to avoid future hassles. You don't want to be bothered by feelings that you are doing more work than your partner or that he is slacking off. Having a compatible share of work is important for success.
6. It is a good idea to choose a partner who has invested substantially for the business venture. This will make sure that he is as liable to the business venture as you. When this happens, chances of him doing too little work than required will be less.

Wednesday, December 21, 2011

How to Sell Your Business - An Introduction

If you are thinking of selling your business this is a good place to start. The first question I would want to ask you is - "have you thought this through?" The first question you would no doubt want to ask is "how much could I get for the business?".
The answer to your question is that it depends on how well you have thought it through, because there are pitfalls. This article will introduce some early fundamental pitfalls that will not just affect the sale price, but also whether you can sell the business at all.
The first thing we need to assess is just exactly what you are selling. Are you a sole trader where the business is in your name and all assets and liabilities are owned by you?
Is this a partnership - are other partners involved with a financial interest who will need to approve the sale or otherwise? Is this a private limited company - are there other shareholders to consider, will every shareholder wish to sell?
It is also possible you are considering selling a public limited company - in which case can you persuade all shareholders to sell and are there any special interest considerations to take account of?
In each case there are issues to address from the outset which can stop a promising sale in its tracks and send the purchaser away without a backward glance.
If selling a sole trader business, you will need to be careful of implied warranties. These can be, in effect, undocumented assumptions that the buyer may be making when buying the business. One obvious one is that the business can still function when the owner has sold up and left.
If this proves to be not the case then in certain circumstances the buyer of the business may be able to claim back the full value of the sale from the seller personally, while still holding on to the business. Good preparation is therefore crucial
With both partnerships and private limited companies, the critical issue is agreement: are all shareholders and partners in full agreement before the sale process starts, because a change of mind half way through the sale will kill it dead.
There are special individual considerations for both partnerships and private limited companies which need to be dealt with at the outset and legal advice is usually needed at this stage.
To some extent a sale of a Public Limited Company is made easier by its very nature, but of course it does depend on how much of the business the buyer wants to acquire. If this is 100%, then prior agreement of all shareholders will be required, but obtaining this agreement has to be undertaken carefully to prevent share price distortions and accusations of insider trading.
Unscrupulous buyers may take advantage of, or deliberately encourage, disarray in the seller's camp to push the business they wish to buy over the edge in order to reduce its sales price, or even force a liquidation which they can then take advantage of.
Agreement of all selling parties is therefore essential at the outset as is good preparation and a clear vision of what the business should be sold for and what the minimum acceptable price is.

Thursday, December 15, 2011

Choosing a Reputable Truck Freight Brokers

Truck Freight Brokers is a term used to describe the middle men who act as the link between individuals or companies that require shipping services and the truck owners who are hired to transport the merchandise to various destinations. Putting together the logistics involved to make sure that goods are picked and delivered on time can be a daunting task, and that's why it's necessary to incorporate the services of a Truck Freight Broker.
When selecting the most suitable freight brokerage company for your needs, it's crucial that you put some vital factors into consideration in order to get the work done quickly and efficiently. First the Truck Freight Broker agency should be a well recognized company which has been in operation for several years on the competitive market. This serves to prove that it's a reliable company which has all the expertise required to handle and deliver the goods safely to their various destinations.
Another important aspect to put in place is the technology and equipment used to handle the goods. The Truck Freight Brokers should be able to show the tools they use to handle the cargo. They should have spacious warehouses and trustworthy documentation system which includes freight insurance, custom clearances, warehousing costs for both imports and exports. The company should also offer free quotes for various commodities. They should give their clients considerable rates which are worth the services indicated and mostly prices which are pocket friendly to the customers.
Before settling on the most reliable Truck Freight Brokers, it's vital to seek the company's reviews. This can be done through the internet as this is the ideal platform to seek such information. Customers leave their reviews and this way they express their views on the services offered by the company. The internet also has many companies that offer this service. Getting a word of mouth is another way of knowing whether the company is a genuine one. A satisfied customer will always give positive feed backs about the services he received. This is what displays the professionalism and efficiency of a company.
Lastly the company should have a reliable and competent work force. This goes along a way in ensuring that the work is done in an efficient manner without any drawbacks. They should be well trained to handling, storage of various goods to avoid losses which might be extremely costly to both the client and the Truck Freight Brokers firm.