Choosing the Right Business Broker

Even though owning a business is a public venture, it is a very personal thing to business owners. Owners are the ones that have put in the time, effort, resources, and taken the financial risk to build the company over time.

So, when it comes time to sell, there is no doubt that you want to put your business in a position to maximize its value so you can get the most out of your investment. To do this, many business owners attempt to sell their company themselves. However, even though they are in business and very adept to the business world, the act of selling a business can be a complicated process.

To simplify the process of selling your business, many owners have turned to business brokerages. A business broker can help you effectively position your company so you can get the most out of your investment.

Just like with any other industry, choosing the right business broker is a vital decision. You need to find a brokerage that is the right fit on multiple levels. For this reason, hiring a business broker is not a decision that should be taken lightly. There are a number of important elements that should factor into your decision not only to sell, but to find the right broker to assist your with the sales process of your company.

The following are 5 of the most important considerations you need to think about before signing with a business brokerage:


Confidentiality is one of the most important elements when it comes to any transaction involving your business, let alone the sale of your company. Confidentially must be kept at every step of the process and it is at the core of developing an effective relationship with a brokerage.

Services that meet your needs

All brokerages are not the same. For that reason alone, you need to take the time to find out if the company offers the services that you need to successful accomplish your goal.

Accurate Valuation

Obviously, as a business owner, you want to get the most value possible out of your business. However, you also need to be realistic about your expectations. Therefore, when considering a business broker, make sure that they assess the value of your business from the buyer’s perspective. This will give you an accurate assessment of what you should realistically expect to get for your business.

The right match between seller and buyer

Selling your business is about not only find a buyer, but also effectively marketing and attractive the right kind of buyer for your business. Even if you are selling your company, business owners want to see the company succeed in the future, even if it is run by someone else.

Experience with your type of business

Understanding about how to effective position your company to maximize returns takes experience. Therefore, you need to find a broker that is not only IBBA certified, but also has experience working with companies of your size in your specific industry. It is this experience that will enable the broker to successfully recruit buyers, negotiation and close a deal all parties are satisfied with.

The 4 Steps To Starting An Internet Business

One day you have decided you want to try your hand at an Internet business. Well, you should know that there are many different people who are earning a living and even getting rich with this type of business. This does not mean that you should expect to make a million dollars within a few months, but with the right idea and plan, you can certainly create a profitable career with this business.

Before rolling the dice and starting your own online business, there are a few things you want to be sure of. First and foremost, you want to be sure that you have the drive, energy and enthusiasm to make it work. Very few, if any, businesses start off super strong and begin making a lot of money right away.

You have to work on your business in order to make it a success, and there is no boss to look over your shoulder and make sure you’re working. So, you have to have an adequate amount of dedication and be self-starting in order to be successful.

In addition to this, you should know that when you’re starting a business, you may spend many, many hours working each day. So, instead of the typical 9 to 5 day, you may be spending 12 or 14 hours a day to get things going. It is a labor of love, and if you’re willing to put in the hours and commitment, you can really make a go of it.

Having said that, based from my own experience, if you’re attempting to kick-start on an online business, you should first try to attend a workshop or seminar related to the subject.

For most cases, any trainer of the workshop or seminar which conduct an introduction course on ‘How To Start An Internet Business From Home’ shall teach the participants that in order to start an online business, the following four (4) steps should be followed:

(1) You must identify the product / service that you want to sell on the Internet.
(2) You need to have the website – web hosting, domain name and sales letter.
(3) You need to determine how you want to be paid by your customers.
(4) You have to promote, promote and promote your business.

The product that you want to sell can be physical, for example computers, guitars, shoes, and others; while the non-physical products can be DVD, e-Book or others. As for the service, you can sell insurance, vacation spots, and many more.

In order for you to sell your product or service, you need to have your website. Besides, you need to purchase a good domain name as well. Domain name is the address where people will use to get to your website. For example, if you’re providing taxi service in the city of Newcastle, Australia, then your domain name might be

Hosting is another important part of the process. You should choose a good hosting company and it is best that you host your website in the country where your primary market is. This is vital for good search engine rankings.

There’s one thing that you should remember when you’re involved with this type of business. Your website should be filled with a convincing sales letter. That is to say, when someone reads your sales letter, he or she will want to click on to the “Buy Now” button. There’s no sales until your website reader does this.

As I am operating my online business from Kuala Lumpur, Malaysia, I can purchase the domain name and the hosting from the same company. The cost of renting for both domain name and hosting is not more than USD20.00 per year.

You are certainly anxious about how the customers will pay you. You can choose several types of payment methods. By normal standard, it will be by credit card, bank-in cash into your bank account (via automatic teller machine or bank teller) or PayPal. Your website designer can help you to install this in your website. As for me, I am using the last two methods.

Perhaps the most worrying part about this business is how to promote your product. How to make people know that your business exists? Normally the trainer will cover this topic at the end of the workshop or seminar session.

You will be taught that there are free as well as paid advertisements for your business. Free advertisements include but not limited to signature email, forum, leaving your comments in blogs, social networking, writing in your own blog, your website appears in SEO, and others.

When you want to pay for your advertisements, then you may go for banner ads, Google AdWords, Facebook Ads, etc. You can also advertise offline, for example in the local newspapers and magazines.

In closing, it is important to take the time to research each aspect of your business. Chances are, no matter what business idea you come out with, there will be someone out there who has the same idea. These will be your competitors. Do not be afraid to take a close look and see what your competitors are doing to make money and have a successful online business.

If you see that the company is having success with one or more types of marketing, emulate them. Do what they are doing. This will help to get you on your feet and ensure that you’re making the right business choices.

It will take drive and perseverance to make your online business works, but if you are strong-minded, you can certainly do it.

All You Need to Know About Business Liability Insurance

Operating a business is complex, as you have to deal with risks that are associated with it. You need to consider purchasing business liability insurance to protect your business from financial loss in the event of lawsuits or third party claims that are common in today’s world of litigation. There are a number of insurance policies available in the market, but you need to purchase one that suits your business’ needs and covers every risk that your business is likely to face.

Business liability insurance protects business and its owner in case of claims made by third party for physical injury or damage to the property. The coverage includes damages due to lawsuit in addition to legal costs.

There are four main types of business liability insurance, purchase the one that suits your business’ needs.

• General/commercial liability insurance: It is also known as Commercial General Liability (CGL) insurance. This coverage protects your business against the lawsuit made by third party for bodily injury or property damage. Under this cover, CGL pays the medical expenses and legal fees.

• Professional liability insurance: This type of insurance protects professionals such as accountants, doctors, lawyers and engineers in the event of claims made by a third party or client for negligence, malpractice, errors or omission, while providing services to the clients. Professional liability insurance is a legal requirement for some professionals who are specialized in their respective fields.

• Product liability insurance: Product liability insurance protects against liability from the use of faulty or damaged products. It is meant for manufacturers, wholesalers, distributors, retailers, or any others who sell the product to the public. The liability may be on account of injuries or damage caused to the customer by using a defective product.

• Commercial auto insurance: This insurance covers both liability and property risks a business owner faces, while using cars, trucks, autos or trailers. During driving, if the company vehicle injures other people or damages their property, the policy covers the claims made by the third party. This policy may also cover your employees, using their personal vehicles for your business purpose.

Types of claims
The business liability insurance covers four basic claims made by the third party. They are:

• Bodily injury – The liability covers the claims, if a person is accidentally injured by your company or its employees.

• Property damage – This type of liability coverage pays for damages caused by you or your employee to others’ property such as vehicles, house or furniture.

• Personal injury – Personal injury is different from bodily injury. In personal injury liability, it covers the policy holder from third party claims on issues like slander or libel. This cover also includes damage to a person’s or company’s character, invasion of privacy or false arrest.

• False or misleading advertising injury – An advertisement injury is a harm caused to a third party as a result of the policy holder’s advertising efforts. The claims that are covered are slander, libel, copyright infringement and invasion of privacy.

Costs covered
Business liability insurance explicitly covers three major damages caused to the third party by the policy holder. Covers include compensatory damages, general damages and punitive damages. In case of compensatory damage claim, financial losses of the third party due to an injury will be covered. In general damage claims, non-monetary losses such as mental torture, pain and suffering by the third party are covered. Punitive damages are additional charges or penalties, made by the third party, which the policy holder should pay.

Having business liability insurance transfers the risks of financial loss, caused due to the claims made against the business, to the insurer. The insurance company not only pays for the damages but also pays the legal costs on behalf of the policy holder. In case of settlement by the claims made by third party, the insurance company will pay up to the limit of the policy holder’s coverage.

Business liability insurance is, thus, useful for your business as it protects your business from unexpected financial losses.