If You’re Too Nice, You’ll Hurt Your Business, Here’s Why

If you run a successful business — and have for many years — it’s understandable that during such an uncertain time as there is now, you might consider just getting out. This is particularly true for individuals who’ve enjoyed a good amount of success but just don’t want to go through another cycle that again puts them emotionally through the wringer. However, because of all of that’s going on in the economy, with things largely down, is it best to sell now or wait until the economy recovers? The Downsides of Selling During a Recession That’s really the million-dollar question. Of course, a recession will naturally be a more tough environment in which to sell. There will be fewer buyers available as small business credit tightens and even larger organizations avoid potential risk. So, you’ll probably find it a bit challenging to find a suitable buyer. The Great Recession ended in 2009 and impacted the lives of many. Now as the economy appears to be headed into another downturn, it’s a good time to review how to take advantage of the recession instead of letting it take advantage of you. —Investopedia Then, there’s another fairly obvious factor — will your business bring the amount you expect? Put another way, can you sell it for the same amount or near the same amount you would be able to during normal economic times? Also, how do you effectively market your business in order to attract the right type of buyer? (This is where an experienced business consultant/coach would come in very handy.) The Advantages of Selling During a Recession Conversely, there are some distinct advantages to selling during an economic downturn. Here are some benefits you should know about: You might be able to leverage a slight discount. Okay, so that’s probably not what you want to hear, but this doesn’t mean giving your company away for an undervalued, low-ball price. What it does mean is being able to attract qualified buyers with the promise of a fair deal. By taking this approach, you may be able to sell it faster and move on to something else, or perhaps retire, in a shorter period of time. You can separate out time-wasters from serious buyers. This is something just about any business that’s for sale encounters. People who talk a good game but never really follow through and actually take action. On the flip side, serious buyers will understand the overall economic circumstances. Therefore, they’ll be more sincere and eager to get the deal done. In other words, they’ll likely have their ducks in a row and be ready to proceed because they’re serious. Remember that you’re in control. Very few business owners who decide to sell are completely comfortable with their decision. The majority will second-guess themselves over and over again, even after they go through with a transaction. The bottom line is, if you are able to get a fair price, it’s probably not worth risking waiting any longer, because the economic environment could worsen and that will most definitely hurt your chances of selling. What other advice do you have? Please take a moment to share your thoughts and experiences by commenting and giving others valuable feedback! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Vandalism protection isn’t something most business owners think about. After all, it’s a rare occurrence. But, vandalism can and does happen as we’ve seen or experienced with the recent protests and riots. When it becomes a reality, too many business owners are unprepared. This is due to the fact that the majority of businesses are focused and prepared for theft — not defacing, smashing, and wrecking. So, read on to learn more about how to protect a business against vandalism. The Truth about Vandalism Sure, today’s headlines probably have you thinking about the possibility more than ever. But, the truth be told, vandalism — to just about any degree — is possible at any given moment. At the very least, it could be a total accident. (Like those weird news stories about a driver who accidentally hit the accelerator instead of the brake. Or, the vehicle involved in a collision that hurled out of control and smashed into a building.) When considering how to prevent vandalism, home and business owners often despair. The crime can be committed in an instant, yet it can have an enormous financial impact. It can be carried out by rivals or total strangers. It can occur in the middle of the working day, or the dead of night. You need to know how to deter vandalism— [and] what options are available —ADT Commercial Security The point obviously being, is that it’s far better to be prepared than it is to get caught completely off guard. The latter will cost far more time and money, stress, and more negatives. However, being proactive can help to prevent the scenario or reduce the amount of damage. Most Effective Ways to Protect a Business against Vandalism Now, let’s get to the nuts and bolts of the situation — how to protect your business from vandalism. While it’s not simple or inexpensive, it’s most definitely worthwhile for a little more peace of mind and to mitigate the extent of the destruction. Here are some effective ways to protect a business against vandalism: Identify weak points. Huge windows, poor lighting, outdated or insufficient security/safety measures. All of these can and will prove very detrimental if vandals strike your place of business. Use landscape and lighting. There’s a reason all those big box retailers and chains have landscaping and lighting — to help prevent damage from a variety of sources. You can use landscaping and lighting to not only improve aesthetics, but also, to help ward off trouble. Install security cameras and more. Of course, this is the most obvious measure to take proactively. But, be sure to place those cameras and other hardware strategically to get the most out of them. Keep an up-to-date store inventory. This not only helps to reduce over-stocking and identify shrinkage, but it can equally help if things are damaged — due to vandalism or another reason, like a natural event. Be sure to have the right insurance in-place. Just because you carry insurance doesn’t mean you have the right coverage. Take some time to go over your policy to ensure you have ample protection. What other suggestions do you have? Please take a moment to share your thoughts and experiences by commenting and letting others know your perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group.