Archive for February, 2010

Do you have what it takes to succeed as a business owner?

Thursday, February 25th, 2010

Ever wonder why some business owners are more successful than others? Ever wonder why you aren’t more successful? Maybe the answer lies in in those attributes that all successful business owners share. And they’re probably not what you think. Successful business owners are not necessarily smarter or more educated but I’ve found that they have characteristics that put them in a position to excel over time. First, they have a high level of “Commitment”. So high that they are willing to overcome any obstacle that gets in their way when many people would have given up. Because they love what they do and are so committed to it, every obstacle is just another challenge on their journey to success. Second, they possess a lot of “Common Sense”. They are able to use their “wisdom gained from experience” to deal with issues that threaten their prosperity. They change the way they look at things so the things they look at change in a way they understand and can control. Third, they have a high level of “Creativity”. This attribute allows them to think differently about things by changing their perspective on them. Their innovative approach means they won’t do what they’ve always done or what everyone else does. If you’re struggling and don’t know why call me for a free consultation.

Charlie Ferneyhough, CEO Consulting

If You Plan to Succeed You Better Have a Plan

804-360-7879

cjferne@juno.com

Why You Should Use a Business Broker

Tuesday, February 23rd, 2010

Any business owner who has sold a business on his of her own will tell you it’s a long, tedious and stressful process.  It consumes time and distracts you from the day to day operation of the business.  When your focus should be on maintaining or increasing the value of your business, all of your time and energy is directed to the sale process.

That’s where an experienced business broker can pay huge dividends.  An experience business broker can help guide you through the complicated process of selling your business.  There are many areas where the business broker expertise pays off: (more…)

Do I Need Business Insurance?

Thursday, February 18th, 2010
What does a business owners policy cover?

Insurance companies selling business insurance offer policies that combine protection from all major property and liability risks in one package. (They also sell coverages separately.) One package purchased by small and mid-sized businesses is the businessowners policy (BOP). Package policies are created for businesses that generally face the same kind and degree of risk. Larger companies might purchase a commercial package policy or customize their policies to meet the special risks they face.

BOPs include:

1. Property insurance for buildings and contents owned by the company — there are two different forms, standard and special, which provides more comprehensive coverage.

2. Business interruption insurance, which covers the loss of income resulting from a fire or other catastrophe that disrupts the operation of the business. It can also include the extra expense of operating out of a temporary location.

3. Liability protection, which covers your company’s legal responsibility for the harm it may cause to others. This harm is a result of things that you and your employees do or fail to do in your business operations that may cause bodily injury or property damage due to defective products, faulty installations and errors in services provided.

BOPs do NOT cover professional liability, auto insurance, worker’s compensation or health and disability insurance. You’ll need separate insurance policies to cover professional services, vehicles and your employees.

Do I need professional liability insurance?

Professionals that operate their own businesses need professional liability insurance in addition to an in-home business or businessowners policy. This protects them against financial losses from lawsuits filed against them by their clients.

Professionals are expected to have extensive technical knowledge or training in their particular area of expertise. They are also expected to perform the services for which they were hired, according to the standards of conduct in their profession. If they fail to use the degree of skill expected of them, they can be held responsible in a court of law for any harm they cause to another person or business. When liability is limited to acts of negligence, professional liability insurance may be called “errors and omissions” liability.

Professional liability insurance is a specialty coverage. Professional liability coverage is not provided under homeowners endorsements, in-home business policies or businessowners policies (BOPs).

Do I need a commercial auto insurance policy?

As a businessowner, you need the same kinds of insurance coverages for the car you use in your business as you do for a car used for personal travel — liability, collision and comprehensive, medical payments (known as personal injury protection in some states) and coverage for uninsured motorists. In fact, many business people use the same vehicle for both business and pleasure. If the vehicle is owned by the business, make sure the name of the business appears on the policy as the “principal insured” rather than your name. This will avoid possible confusion in the event that you need to file a claim or a claim is filed against you.

Whether you need to buy a business auto insurance policy will depend on the kind of driving you do. A good insurance agent will ask you many details about how you use vehicles in your business, who will be driving them and whether employees, if you have them, are likely to be driving their own cars for your business.

While the major coverages are the same, a business auto policy differs from a personal auto policy in many technical respects. Ask your insurance agent to explain all the differences and options.

If you have a personal umbrella liability policy, there’s generally an exclusion for business-related liability. Make sure you have sufficient auto liability coverage.

Do I need business interruption insurance?

Business interruption insurance can be as vital to your survival as a business as fire insurance. Most people would never consider opening a business without buying insurance to cover damage due to fire and windstorms. But too many small businessowners fail to think about how they would manage if a fire or other disaster damaged their business premises so that they were temporarily unusable. Business interruption coverage is not sold separately. It is added to a property insurance policy or included in a package policy.

A business that has to close down completely while the premises are being repaired may lose out to competitors. A quick resumption of business after a disaster is essential.

1. Business interruption insurance compensates you for lost income if your company has to vacate the premises due to disaster-related damage that is covered under your property insurance policy, such as a fire. Business interruption insurance covers the profits you would have earned, based on your financial records, had the disaster not occurred. The policy also covers operating expenses, like electricity, that continue even though business activities have come to a temporary halt.

2. Make sure the policy limits are sufficient to cover your company for more than a few days. After a major disaster, it can take more time than many people anticipate to get the business back on track. There is generally a 48-hour waiting period before business interruption coverage kicks in.

3. The price of the policy is related to the risk of a fire or other disaster damaging your premises. All other things being equal, the price would probably be higher for a restaurant than a real estate agency, for example, because of the greater risk of fire. Also, a real estate agency can more easily operate out of another location.

Extra Expense Insurance

Extra expense insurance reimburses your company for a reasonable sum of money that it spends, over and above normal operating expenses, to avoid having to shut down during the restoration period. Usually, extra expenses will be paid if they help to decrease business interruption costs. In some instances, extra expense insurance alone may provide sufficient coverage, without the purchase of business interruption insurance.

How do I insure my home business?

If you’re running a business from your home, you may not have enough insurance to protect your business equipment. A typical homeowners policy provides only $2,500 coverage for business equipment, which is usually not enough to cover all of your business property. You may also need coverage for liability and lost income. Insurance companies differ considerably in the types of business operations they will cover under the various options they offer. So it’s wise to shop around for coverage options as well as price.

Regardless of the type of policy you choose, if you’re a professional working out of your home, you probably need professional liability insurance. Some types of in-home businesses, such as those that make or sell food products or sell home-made personal care products, may have to buy special policies.

To insure your business, you have three basic choices, depending on the nature of your business and the insurance company you buy it from.

They are:

  • Homeowners Policy Endorsement.
    You may be able to add a simple endorsement to your existing homeowners policy to double your standard coverage for business equipment such as computers. For as little as $25 you can raise the policy limits from $2,500 to $5,000. Some insurance companies will allow you to increase your coverage up to $10,000 in increments of $2,500.

    You can also buy a homeowners liability endorsement. You need liability coverage in case clients or delivery people get hurt on your premises. They may trip and fall down your front steps, for example, and sue you for failure to keep the steps in a safe condition.

    The homeowners liability endorsement is typically available only to businesses that have few business-related visitors, such as writers. But some insurers will provide this kind of endorsement to piano teachers, for example, depending on the number of students. These endorsements are available in most states.

  • In-Home Business Policy/Program.
    An in-home business policy provides more comprehensive coverage for business equipment and liability than a homeowners policy endorsement. These policies, which may also be called in-home business endorsements, vary significantly depending on the insurer.

    In addition to protection for your business property, most policies reimburse you for the loss of important papers and records, accounts receivable and off-site business property. Some will pay for the income you lose (business interruption) in the event your home is so badly damaged by a fire or other disaster that it can’t be used for a while. They’ll also pay for the extra expense of operating out of a temporary location.

    Some in-home business policies allow a certain number of full-time employees, generally up to three. In-home business policies generally include broader liability insurance for higher amounts of coverage. They may offer protection against lawsuits for injuries caused by the products or services you offer, for example.

    In-home business policies are available from homeowners insurance companies and specialty insurers that sell stand-alone in-home business policies. This means that you don’t have to purchase your homeowners insurance from them.

  • Businessowners Policy (BOP).
    Created specifically for small-to-mid-size businesses, this policy is an excellent solution if your home-based business operates in more than one location. A BOP, like the in-home business policy, covers business property and equipment, loss of income, extra expense and liability. However, these coverages are on a much broader scale than the in-home business policy.

    A BOP doesn’t include workers compensation, health or disability insurance. If you have employees, you’ll need separate policies for these coverages.

Prestia Insurance Agency, Inc. www.prestiainsurance.com

To Tweet or Not to Tweet: Expert Tips about Using Social Media

Tuesday, February 16th, 2010
Gary Vaynerchuk and other experts offer primers on using Twitter, Facebook, and other social media platforms.

Lisette Hilton John H. Ostdick February 1, 2010

The tools being trumpeted as paving the new road to riches—Twitter, Facebook, YouTube, blogging—depend on fundamentals common to most good business plans: People buy things from companies they like, trust, remember or that provide them with value. All this is happening in a new way as social media transforms how people make connections and do business. “We can be more intimate with our marketplace, customers and peers,” explains Mari Smith, president of the International Social Media Association. “Consumers are developing the expectation that companies are going to be more available and respond more quickly, that people are listening.”

But social media comprises just one piece of an overall marketing pie, say practitioners, who stress that it must be planned and executed well to be successful.

If Facebook were a country it would be the world’s fourth most populous, between the United States and Indonesia.
Source: Socialnomics.net

With social media now part of the mainstream, many businesspeople feel peer and media pressure to dive in—especially with Twitter, which is essentially a global chat room of influencers—without knowing why or what they’re doing there.

“You have to know what your objective is,” Smith says. “A lot of people come to me and ask how they can make money on Facebook or Twitter. They are looking at it as sort of an ATM. But these are mediums, platforms or vehicles we can use to get our message out there, not a whole lot different than using traditional tools—buying an ad in a magazine or on TV, and radio spots, public speaking or press releases.”

Getting started with social media means getting educated, which can begin with a simple Internet search. “The online community has all the answers; all you have to do is type in the question, and the answer is there,” says Gary Vaynerchuk, who used social media to build his family’s retail wine business and promote his own video blog called Wine Library TV.

An entrepreneur or small-business owner can also learn a great deal studying how corporate trendsetters—Kodak, Dell Computers, Ford Motor Company and Starbucks, for example—use blogs, Facebook fan pages, Twitter and YouTube to promote their companies. (Kodak also offers a useful Social Media Tips guide in PDF at blogs.Kodak.com.)

Hiring a coach or expert in the field is another possible approach, but doing due diligence is essential (a glut of candidates is clamoring to help—a recent Google search of social media experts offered 92.4 million hits).

Smith advises any businessperson just getting started with social media to get out there on Google Search or sign up for TweetBeep alerts, and listen to the conversations going on about the company or the company’s specific market. Doing so can help gauge how people feel about your products, company and competitors.

Vaynerchuk suggests going to different forums and blogs, using Twitter and Facebook, searching keywords related to your business, then engaging in virtual handshakes and leaving comments. He shares an example of his own experience: “I videotaped the Wine Library TV show for 20 minutes, put it up on the WordPress blogging site, and spent the next 18 hours going to every wine forum and blog and leaving comments about everybody else’s comments. Essentially, I went to the places where other bloggers were blogging and started conversing. They became my initial fan base. That was it. It was not overly complicated. It’s about putting out content that’s relevant and good, then spending all the time possible in different places where your subject matter is discussed and becoming part of those communities.”

Experts agree that success with social media requires a commitment. “Understand that once you write the blog post or leave a comment on a wall, that’s when your work begins, not when it ends,” says Vaynerchuk, who estimates it takes six to 24 months of using social media before seeing results.

In addition to the time commitment, Smith stresses the importance of posting consistently and offering relevant content. “In a really beautiful way, it’s about leadership: When you have people following you, whether that’s hundreds or hundreds of thousands or a million, you have a great responsibility to provide them with quality content and lead them with integrity.”

Jeffrey Hayzlett, Kodak chief marketing officer and vice president, says using social media needs to be a core part of what and who you are. “Don’t just step into it with a splash and fade away—step into it, own it and continue to do it,” he says.

Experts offer these additional tips to effectively using social media:

Be passionate.
“Passion always beats skill. Realize that it’s the passion in your subject matter that will engage,” Vaynerchuk says.

“It’s hard to convey passion in 140 characters on Twitter,” Hayzlett says, “but if you are consistent, people begin to see that you are deep, not shallow. That’s what small businesses have to do as well.”

Be real.
“Authenticity and transparency are critical in social media,” Smith says. For example, she says the robust culture that successful online entrepreneur Tony Hsieh has developed at Zappos.com includes the following Twitter training message for employees, who each have their own Twitter accounts: Be authentic and use your best judgment.

Forget the old hard sales pitch.
“Nobody on the Web wants to hear it, and people will tune you out,” Vaynerchuk says. “Listen; don’t pitch. If you’re selling flowers and are chatting about them to a potential client, instead of saying, ‘Hey, buy my flowers,’ listen to one of those looking for advice about a specific flower and help her out. Your knowledge and honesty is what will give you an audience.”

Don’t overthink.
“People just want you to communicate with them. They’re not necessarily obsessed with grammar or sentence structure,” Vaynerchuk says.

Always be marketing.
“Every single thing I do markets myself, whether I’m chitchatting with a friend or working with a client,” Smith says. “Oprah could be reading my tweets and trying to decide whether to have me on her show right now. I’m always cognizant of that.”

As with any tool, social media needs to be studied, evaluated and put to use as part of a broader business plan. But veterans say the time for developing that process is now. by www.successmagazine.com

Social Media Marketing 101

Tuesday, February 16th, 2010

When people hear about social media marketing, many tend to think about popular social media sites like Facebook, LinkedIn, MySpace and YouTube. YouTube has about 258 million users, and more than 50 percent of them log in weekly. Facebook has about 101 million users with more than 50 percent who log in daily.

If you haven’t spent any time on these sites, I highly recommend setting up an account and jumping into a conversation or community. It’s one thing to talk about social media marketing and another to experience it firsthand. You’ll be a more effective social media marketer if you’re already a participant.

What is Social Media?

Social media essentially is a category of online media where people are talking, participating, sharing, networking, and bookmarking online. Most social media services encourage discussion, feedback, voting, comments, and sharing of information from all interested parties.

It’s more of a two-way conversation, rather than a one-way broadcast like traditional media. Another unique aspect of social media is the idea of staying connected or linked to other sites, resources, and people.

Kinds of Social Media

Many social media sites come in the form of a blog, microblog, podcast, videocast, forum, wiki, or some kind of content community. To help you understand social media better, let’s break them down into basic forms or groups.

  • Social news: Sites like Digg, Sphinn, Newsvine, and BallHype let you read about news topics and then vote and/or comment on the articles. Articles with more votes get promoted to a more prominent position.
  • Social sharing: Sites like Flickr, Snapfish, YouTube, and Jumpcut let you create, upload, and share videos or photos with others.
  • Social networks: Sites like Facebook, LinkedIn, MySpace, and Twitter allow you to find and link to other people. Once linked or connected, you can keep up to date with that person’s contact info, interests, posts, etc. Many people are connecting to friends and business associates with whom they had fallen out of touch. It’s bringing the world together like nothing else has.
  • Social bookmarking: Sites like Delicious, Faves, StumbleUpon, BlogMarks and Diigo allow you to find and bookmark sites and information of interest. You can save your bookmarks online and access them from anywhere or share them with others.

This is just a sampling of social media sites. More are added daily. Breaking them down into these categories or groups will help you understand their focus and to consider which avenue is right for your approach to social media marketing.

Social Media Benefits

Let’s look at the general scope of social media universe. Did you know:

  • Five of the top 10 fastest-growing Web brands are user-generated content sites?
  • Sixty-seven percent of businesses say that the best source for advice on products and services are their consumers?
  • Forty-five percent of adult Internet users have created content online?
  • There are about 1.2 million blog posts per day?

So do you think it would benefit you to tap into this ever-growing universe of social media? Absolutely! Many companies are trying to figure out how to get involved. They’re shifting money from traditional marketing budgets to social media marketing because it:

  • Helps manage your company’s or brand’s reputation.
  • Builds brand awareness and helps improve how people view your brand.
  • Gets you closer to your customers. Learn about their needs then respond. Discuss converse, debate.
  • Offers creative and effective ways to learn insights not previously available.
  • Features new and inexpensive ways to support your clients.
  • Is typically less expensive than traditional advertising.
  • Offers various ways to measure and track performance.

A good corporate example to illustrate many of these principles is from Dell. They started Ideastorm, where people can post ideas and have them voted on. Can you say free market research? Who better to tell you how to create or improve your products and services than your customers? Cool, huh?

Now that we have a basic understanding of what social media marketing is and its benefits, the next step is to learn more about how to build your own social media strategy.

In the meantime, take a look at some of the Social Media Marketing columns here at Search Engine Watch to learn more on this topic.

Ten Tips to the Top of Google

Tuesday, February 16th, 2010

Having a Web site that gets found in Google isn’t hard to do, but it can be difficult to know where to begin. Here are ten tips to get you started.

1. Start out slowly. If possible, begin with a new site that has never been submitted to the search engines or directories. Choose an appropriate domain name, and start out by optimizing just the home page.

2. Learn basic HTML. Many search engine optimization techniques involve editing the behind the scenes HTML code. Your high rankings can depend on knowing which codes are necessary, and which aren’t.

3. Choose keywords wisely. The keywords you think might be perfect for your site may not be what people are actually searching for. To find the optimal keywords for your site, use tools such as WordTracker. Choose two or three highly targeted phrases for each page of your site. Never shoot for general keywords such as “travel” or “vacation.”

4. Write at least 200 – 250 words of visible text copy based on your chosen keywords. This is a crucial component to high rankings and a successful Web site. The search engines need to “read” keyword rich copy on your pages so they can successfully classify your site. Use each keyword phrase numerous times within your copy for best results.

5. Create a killer Title tag. HTML title tags are critical because they’re given a lot of weight with all of the search engines. You must put your keywords into this tag and not waste space with extra words. Do not use the Title tag to display your company name or to say “Home Page.” Think of it more as a “Title Keyword Tag” and create it accordingly. Add your company name to the end of this tag, if you must use it.

6. Create Meaty Meta tags. Meta tags can be valuable, but they are not a magic bullet. Create a Meta Description tag that uses your keywords and also describes your site. The information in this tag often appears under your Title in the search engine results pages.

The Meta Keyword tag isn’t quite as important as the Meta Description tag. Contrary to popular belief, what you place in the keyword tag will have very little bearing on what keywords your site is actually found under, and it’s not given any consideration whatsoever by Google. Use this tag, but do not obsess over.

7. Use extra “goodies” to boost rankings. Things like headlines, image alt tags, header tags <H1><H2>, etc.), links from other pages, keywords in file names, and keywords in hyperlinks can cumulatively boost search engine rankings. Use any or all of these where they make sense for your site.

8. Be careful when submitting to directories such as Yahoo and the Open Directory Project (DMOZ). Having directory listings are a key component to getting your site spidered and listed by Google. Making mistakes in the submission process could cost you dearly as directory listings are difficult to change later in the game. Therefore, it’s important to read Yahoo’s How to Suggest Your Site and How to add a site to the Open Directory before submitting.

9. Don’t expect quick results. Getting high rankings takes time; there’s no getting around that fact. Once your site is added to a search engine or directory, its ranking may start out low and then slowly work its way up the ladder. Some search engines measure “click-through popularity,” i.e., the more people that click on a particular site, the higher its ranking will go. Be patient and give your site time to mature.

10. Don’t constantly “tweak” your site for better results. It’s best not to make changes to your optimization for at least three-to-six months after submission. It often takes the engines at least that long to add your optimized pages to their databases. Submit it, and then forget about it for a while!

If you’ve followed these tips and still can’t find your site in the engines, the first place to “tweak” would be your page copy. If you added less than 250 words of visible text on your pages, this is probably your culprit. Also, double check your keyword density, and make sure that you only targeted two or three phrases per page. Eventually, you’ll see the fruits of your labor with many top ten rankings in Google and the rest of the search engines!

Jill Whalen is an internationally recognized search engine optimization expert, a frequent speaker and workshop presenter, and the owner of HighRankings.com.

Customer Service Processes-Companies Still Don’t Get It!

Monday, February 15th, 2010

A key component of customer loyalty is how well a company handles complaints. I have a fresh example to illustrate! I bought a top of the line, king size memory foam mattress six months ago and it already has a lump in the middle. It has a 15 year warranty on it so I called customer service. They are sending out a third party to determine if there is a defect which is fine.

The customer service representative then informed me that if the mattress is defective and needs to be replaced, there is a $50 charge that I must pay for them to deliver the new one and take away the defective one. I told her that doesn’t make sense that I would have to pay a delivery charge for their defective mattress. She calmly and politely informed me that in the small print of the agreement that I signed, it clearly stated that I was responsible for these charges if the mattress was defective. I didn’t check the small print but I’m sure it is there.

I’m not sure what occurred in their customer service process design meetings (if there were any) but they were obviously looking at the process from an internal, short term financial point of view. The cost to deliver goods was to be passed on to the consumer……for their defect!!

Although this may satisfy the short term financial metric, it fails miserably on the longer term, more critical metric, customer satisfaction. In my opinion, there is a simple solution that satisfies both metrics. They could deliver the new replacement mattress free of charge (what a concept!).

This satisfies the customer who is upset that the product was defective but at least the company stands by their product and makes the replacement as positive of an experience as possible.

From the financial perspective, a financial analyst could determine the defective mattress rate (for simplicity, let’s say one defect for every 50 sold). If the average delivery cost is $50/replacement, then that cost could be spread over every 50 mattresses sold by adding a dollar to every initial delivery or adding a dollar to the sales price. The customer, at the time of sale, could care less if the delivery fee is $20 or $21 or if the sales price goes up a dollar. It would be transparent to them.

The end result is a satisfied customer who would consider buying from the same store again and the cost of redelivery is covered indirectly. The result of their current process is that I will never buy another mattress from them.

They won’t be able to measure that directly but it will show up in future sales since there will be less repeat business over the long term. I know this sounds so basic but I am continually amazed at how many companies do not understand customer service and satisfaction.

This isn’t any different than the nice hotel that wants to charge me, on a separate line item, an extra .50 for a newspaper. Just give me the freaking’ newspaper and build the cost into my nightly rate!!

Some companies just don’t get it!!

Derrick Strand

dstrand@derrickstrand.com

www.derrickstrand.com

Are you running your business or is it running you?

Monday, February 15th, 2010

There’s no worse feeling than knowing your business is out of control and you don’t know what to do about it. That gnawing feeling in your gut that keeps you awake at night is the realization that your business has become an albatross around your neck and a heavy weight on your mind. My experience in working with business owners over the past 25 years is that feeling will suck the life out of you and take away the joy of owning your business if you don’t do something about it. But- what to do? I recommend that you consider starting with identifying what you’re focused on. You get what you focus on so make sure you’re focused on the right things. Most business owners either don’t know what to focus on or they know but get distracted. Does that sound like you? If so, there’s hope at the end of the tunnel.

First I suggest you break your business down into three areas: Sales, Managing, and Money. Then identify the most important and urgent issues in each area followed by an action plan to deal with them. After you begin working towards resolving these issues you’ll start to feel better and gain some measure of control over what’s happening. Even though you can’t control everything, knowing that you’re dealing with the most important things proactively will give you a sense of accomplishment.

“The Success of Your Business is My Business”

Charlie Ferneyhough

CEO Consulting

804-360-7879

cjferne@juno.com


WA business brokers lodge petition in Parliament

Sunday, February 14th, 2010

Western Australia’s business broking community has lodged a petition of almost 1,300 signatures in State Parliament against proposed government legislation which they believe will unfairly advantage big banks.

The petition was tabled by Mr Ray Halligan MLC on behalf of the state opposition.

The brokers and their supporters are deeply concerned about the Real Estate and Business Agents (Amendment Bill) 2007, introduced by Consumer Affairs minister Shelia McHale in November last year without industry consultation.

Business Brokers Association of WA spokesman Bill Goddard said the legislation as presented would allow the big banks to engage in business broking without a licence, undermining the existing profession and leaving consumers vulnerable.

“Not only does the Bill advantage the banks at the expense of small business broking firms, but the scope of the legislation can be expanded at whim by the minister as various other organisations make application to be exempt from the licensing regime,” Mr Goddard said.

Mr Goddard said consumers were vulnerable under the draft legislation, as they did not have access to the fidelity fund if anything were to go wrong with the transaction, unlike the situation with licensed brokers.

Real Estate Institute of Western Australia president Rob Druitt, who helped sponsor the petition, said agents generally were very concerned about a weakened licensing regime.

“Business broking can often involve real estate, such as a fish and chip business which includes the shop itself so real estate agents are understandably concerned by any move that might undermine or overlook the trained, professional, expertise of licensed brokers and agents,” Mr Druitt said.

Mr Goddard said that, while the Government had recently agreed to withdraw the Bill and to redraft it, he and his members remained very concerned about what version two might look like.

“At this stage we remain strongly opposed to the legislation and the principle behind it, so in addition to today’s petition we are also asking the State’s Upper House to send this Bill or its redraft to a Legislative Council Committee for thorough investigation,” Mr Goddard said.

Mr Goddard said the support of his industry for a watered down version of the original Bill was not guaranteed.
“We’ll have to wait and see,” he said.

http://www.wabusinessnews.com.au

Become a Business Broker with ABBA Business Broker Training

Sunday, February 14th, 2010

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Business Broker Training Covers Many Subjects. To become a business broker, you learn to bring together the buyers and sellers of privately held businesses. The professional business broker uses his expertise to assist in valuing a business and identifying likely buyers. He knows how and where to market the business for maximum exposure while maintaining confidentiality.

He is trained in identifying and qualifying business buyers and assisting each in focusing his or her search. He knows how to recast financial statements to determine the cash flow stream of the business. He is an expert as an intermediary in handling the delicate phase of negotiations and the structuring of a successful transaction. He is knowledgeable in acquisition financing and assists buyers in obtaining the necessary financing.

And for all these things, the professional business broker is handsomely compensated. In addition to the high earnings, business brokerage is an exciting, dynamic and enjoyable profession.

If you think that you might want to join the profession and become a respected business broker with 6-figure income potential:

The ABBA offers a two day comprehensive training seminar held periodically at various locations around the country. After this intensive two day seminar and hands-on workshop, you will be able to confidently take your place among the most respected financial professionals in America with six figure incomes. Enrollment is limited to 10 persons per seminar, so please reserve your space early to insure availability.

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The seminar is personally taught by William Bruce, President of the ABBA and an experienced, full time business broker. Click here to visit the LinkedIn profile of William Bruce, and the business brokerage website of William Bruce