Upsize quotable
"Even though you have a track record - if the growth comes fast the results don't come fast enough to finance the growth"
Dan Miller,
Mulberrys Garment Care
Upsize magazine,
Apr/May 2012 (page 32)
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4 tips
from Upsize
... Beware of suitors bearing gifts of high offers
1. Once you decide to go down the path of selling your company, manage it to a tight timeline.
2. Having multiple buyer options in the mix makes this possible.
3. Multiple options also lead to a competitive valuation process that bids one buyer against another (How are most unique and valuable things sold? Right, an auction!)
4. Let the market drive the valuation for your company, not your CPA
Jeff Wright, Corporate Finance Associates
Upsize magazine,
Apr/May 2012 (page 16)
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Commercial Real Estate
Consider using a tenant rep for next space search
 Very few small businesses hire a tenant representative to help them find the right office, retail or industrial space. They may feel the modest scale of their needs precludes them from representation. But the truth is tenant reps are equipped and eager to help virtually all businesses - often free of charge. Tenant reps are usually well-connected and keep abreast of the newest listings. They can connect small businesses with additional resources, including: movers to transport property; lawyers to review lease contracts; lenders to help with loans or lines of credit to cover rent; construction companies to do the space build-out; and office furniture dealers to acquire new or used desks, chairs, dividers and so on.  Barb Ankrum, CAVE & ASSOCIATES: 651-482-9668; bankrum@officehere.com * Excerpted from an article that
appeared in Upsize. To see the
entire article: CLICK HERE
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Law
How to know if your business is "franchise-able"
 
While the business should be simple, the system should not. You may attract franchisees by your unique concept or name, but to be successful, franchisees need systems that allow them to operate the business and stay ahead of the competition. You need to not only develop a prototype, but also document the systems, recipes, procedures, marketing techniques, and the like that you will provide to your franchisees, and develop training programs that enable franchisees to replicate your success.*
Joe Fittante Jr.;
Larkin Hoffman Daly &
* Excerpted from an article that
appeared in Upsize. To see
the entire article: CLICK HERE
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Human resources
Who's your new hire? Conduct a background check
to find out
If you receive a resume that is too good to be true, it probably is. Recent surveys show that 30 percent of all job applicants lie on their resumes, while 60 percent include misleading information. Deception on resumes commonly entails falsifying education (the most common deception), stretching dates to cover employment gaps, enhancing job titles, fabricating credentials or licenses and inventing employers. Properly conducted background checks have the potential to save companies both time and money, as costly hiring decisions may be prevented. *  Kari Yonke, Eide Bailly: 701-476-8778; kyonke@eidebailly.com * Excerpted from an article
that appeared in Upsize.
To see the entire article: CLICK HERE |
Law
Mitigate risks of a business divorce
Early on shareholders are often ebullient about business prospects and their ability to always reach agreement. Personal or economic stress can dampen that spirit. Areas of contention include unequal compensation, added capital contributions, debt guarantees, vacation days taken, whether a position on the board is guaranteed. Business divorces, like other divorces, can be expensive and acrimonious. Mitigate risks by documenting your agreements in the form of a shareholder control agreement.*
Tom Dougherty, Lommen Abdo: 612-336-9330; tdougherty@lommen.com * Excerpted from an article that appeared in Upsize. To see the
entire article: CLICK HERE |
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