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November, 2009
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| Maximizing a New Strategic Alliance
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In the 1990s, more than 60,000 strategic alliances formed. Out of these, half were joint ventures while the other were non-equity arrangements such as technology licensing agreements, joint marketing arrangements and research or development projects. The majority were international, meaning that the world’s largest multinational business such as IBM, General Motors and Philips used alliances.
Most management teams emphasize developing and perfecting the ability to create and manage s
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| Subjective versus Objective Problem Solving in Business
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Unless you hate sweets, most people think chocolate is delicious. If you have a chocolate bar sitting on the kitchen counter, while you’re in the living room; it’s going to attract your attention, where ultimately you’re going to get up and grab it. It hasn’t moved, it can’t play mind games with you or put up banners saying, “Come here and have a bite!” Yet, chocolate can lure anyone’s attention between the ages of 6 to 86.
Say you want to an
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| Always Keep Good Books
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Have you ever wondered about the consequences when business owners don’t report all of the revenue that they’re creating? Business intermediaries know that buyers will only pay for what can be proven, so one ramification is the eventual selling price of the business will be lower due to the decreasing number of documented profits.
The question is how much lower will the price be as a result? A more important question from this arises: how much can a second set of books save
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| Creating Your Own Luck in Business
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On top of having a strong marketing plan, great location, great product, established customer base as well as other factors; luck also has a hand in determining the success of your business that you’ve bought or built. There is such a thing as creating your own luck that can allow you to take your business to the next level; and set you up to sell at maximum value. However, there are some parameters to keep in mind when trying to accomplish this.
Set Sharp and Clear Priorities
When de
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| The Strategy of Actively Waiting
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Any business gains a vital advantage when they seize a golden opportunity that can elevate them to not only the next level but the top of their industry - which will only help when the time comes to sell to a buyer. However, there is one small catch. Business owners neither can predict nor control the precise form, magnitude or timing of such things; and they can rarely open the windows that give rise to golden opportunities. Even a company as large as IBM couldn’t have affected the speed
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| The Importance of Evaluating a Franchise When Looking to Buy
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Currently, franchise businesses provide millions of jobs in the United States due in part to the many advantages that are associated with owning one:
Ongoing support,
Personal training,
Group advertising,
Aproven system for running that type of business.
For any potential business owner, the question comes down to ifrunning a franchisewill be the right fit. One of the first decisions that you have to make is selecting a concept that feels comfortable to you. Following t
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| Is Buying a Home-Based Business Right for You?
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Many people think about this all the time: the chance to combine both career and family life by working from home. But once you make the leap, the concern enters your mind: will you have trouble waking up in the morning without the need to drive to an office?
If you have doubts already, then working from home will not be for you. While running a home-based business offers tremendous freedom and flexibility, it also requires a high degree of motivation, self-discipline and organization. If y
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| Seller Beware – Due Diligence Critical When Evaluating the Buyer for Your Business
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Normally when the buying or selling of a business takes place, the buyer only performs due diligence. However, smart sellers know that it’s a two-way street. Let’s be honest, for both parties, it’s important to truly understand each other, to make sure that the other has a good head on their shoulders and everyone is on the same page. Most importantly, the seller doesn’t want to get burned. Nothing could be worse than when you put your heart and soul into growing a busine
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| Benefiting from the Digital Business Explosion
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On average, the businesses that produce profit margins of more than 10 points higher and growth rates almost 20 points higher than their best competition are the ones that exemplify the digital business design. In other words, they integrate a smart business model with business-driven exploitation of digital options – e-business. These differences in results are staggering; and the gap may grow wider as the early advantages that these leading companies have gained by digital reinventors ar
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| Franchising Your Business
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Franchising is the technique for any business regardless of its size to expand its operation into other branches. This process is regarded as one of the safest means of accomplishing growth. However, it requires careful planning to be successful. If you can set up your course of action appropriately, there are many advantages to going this route that includes:
Providing an affordable means of increasing the scope of your business;
Dispersing the financial risk of expansion to a large
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