Don’t you love the fact that the best new ideas usually come from a girlfriend? I was talking to my friend, Barbara, the other day and she asked me if I had heard about Kikucall. I thought it might be a new Starbuck’s drink or something until I check out www.kikucall.com. What they have is a non spamming way to reach clients through mobile marketing. I was worried at first, but then read you can send “virtual coupons and special promotions.” It’s like e-mail in that clients have to op-in, sending has to be something of value (not just a commercial) and is easy to opt-out. So, I’m keeping the chain going because at SCORE we are always looking for new marketing ideas. Thank you, Barbara, I’m passing on to my friends, also. Any of you heard of Kikucall?
Many times the most valuable asset on a business owner’s balance sheet is the equity in their business. Helping my clients walk towards financial freedom, I am sometimes surprised at the answers I get when I ask the question. Here is a brief sampling; my neighbor down the street sold theirs for this amount and mine is better, well, rule of thumb is 2.5 times the net revenue or my accountant told me. The more important thought, will my business sell at the time I want to leave my business and for the price I need to fund my future hopes and dreams? A CPA and/or a certified appraiser will be able to help you maximize your bank account not the account of the IRS. The valuation method you choose should be approved by the IRS. This will likely be one of the largest transactions in your life, make sure you choose the right one. There are 6,330,000 entries on ask.com on how to value your business. Yikes, which is the right one? Make sure to choose a qualified expert. Most times there is no fee for an initial consultation. Get references and make sure they are not “practicing” on your business.
Next; my business is worth 500,000.00, now what?