0 Items

The Factors To Consider When Deciding Whether To Sell a Start-up

I am a serial entrepreneur and I manage several different companies at the same time. Yesterday I posted the following request for help on my personal Facebook: MY DILEMMA Cash in on a 160,000 profit by selling a start up (and get rid of many headache’s) or continue? What would you do? How would you decide? I received several answers, all really interesting and I therefore decided to consolidate them in a single article. It seems that in deciding whether to continue with a start up or not, the following are the factors that should be considered: I can immediately say that headaches are part of any start up and, more: they are that thing you have to cross in order to be successful. One of the main reason why many people in society have a weak financial condition is that they tend to abandon jobs and projects as soon as the first headaches appear. Many headaches = a lot of money. Or even better “If you want a business or a profession headaches free, you’ll stay poor”. Lets see the factors that were indicated and that I found interesting: ARE YOU STILL PASSIONATE? Do you still like it? Are you passionate about it? CAN ITS VALUE INCREASE IN THE FUTURE? What is the long term value of the business? Is it possible tha even if it is giving you a lot of headaches, tomorrow its value will increase even more? DO YOU HAVE THE NEEDED EMOTIONAL ENERGY TO CARRY ON? Do you still have personal energy that you can invest in this project? IS IT PROFITABLE? DOES IT GENERATE CASH? For how long...

WHEN IN CRISIS…

Watch our latest video to learn which 4 simple steps you can take to pull yourself, and your career, out of a...

Money

Although I have recently published several posts on financial investments, I would like to point out that in the vast majority of cases, those who try to make money through speculation, usually end up without even two pennies to rub together. Money, from what I have understood in my life, depends on: – Your true motivation. Which is not to make money, but to add value to people. To make a difference in their lives. – Your desire to help others. Those who have a lot of money are willing to help others for free (and this was true even before they had a lot of money). Meanwhile, those who do not have a cent to their name will only help if they can see a profit or salary in it for them. – A fanatic and artistic pursuit of perfection, of greatness. My dear friend Daniele Beretta, who is one of the most experienced ergonomics in Italy, rightly states that “the search for perfection in the details brings you closer to God …” – How easily you light up and get excited about the little things. How many times in your life you find yourself saying “That’s great!” (several times a week = a lot of money, a few times a month = underpaid work). If it’s all just a big game, you’ll find yourself working a lot of hours and yet still having a load of fun without ever getting tired. Have you ever seen a child get tired playing their favorite game? – The people around you. If you’re always the smartest in the room, you...

Learn to Delegate in 1 Hour: Now Available FREE Worldwide

Delegation is an indispensible skill for any business owner. With only 24 hours a day to run an entire company, the better your business is, the harder it becomes to do it all yourself. However, delegation isn’t simply a matter of passing work off to other people. How can you be sure that the work will actually be done? Are the people you work with really reliable enough to do it properly? Many business owners who struggle with delegating are plagued by these questions, and this uncertainty often means that the work they had delegated will simply end up back on their desk for them to do (or redo) later. Usually these unsuccessful delegations have a common problem at their core: They aren’t delegating the right tasks. Here’s a quick question for you: You have two tasks that need to be done, but you only have time to do one of them yourself. Which of the tasks do you delegate to someone else? A) The task that you have never done before and don’t really understand. OR B) The task that you already have experience with and know how to do well. Many people assume that delegation exists so that the owner can pass off the tasks they don’t like or don’t understand, and so option A seems to be the obvious choice. Here’s the flaw in that reasoning: If you don’t understand the task or don’t know how to do it well yourself, how are you supposed to know if the person you delegated to is doing it properly? People who choose A often end up failing to check up...

3 Tips on how to make the people in your company explode with potential .

From my experience as a business owner and coach, I have learned some things about managing staff and how to bring out their potential. A first major premise is that if life suddenly becomes harder and requires more effort to achieve the same results, then it is because you have come into contact with a demotivating person and unconsciously formed a connection with them. That is to say, you are in contact with a person who limits your growth as an individual and as a professional. The demotivating person has little respect for the property of others and thinks everything is due to them as their right. They therefore insist on being paid for jobs they haven’t done, or for working the bare minimum. They don’t care about your well-being or gain, only their own, and heaven help you if they find you lacking in some way. The demotivating person is like a tape worm: first they consume the value of the company, then they begin to consume you too. You have to root them out while there’s still time. Now, getting back to us … If you ask people how to grow potential, most people will probably tell you things like “watch people: what is that person really good at? What could they be best in the world at? In what professional activity do they find great pleasure? Find what someone truly likes and they will begin to express the best of themselves.” I don’t think this is wrong, but I also think there are other rules as well: ABILITY: Each of us has the ability do everything,...

4 Tips to change the world with your business

  Make meaning, not money I have met thousands of entrepreneurs and known extraordinary companies. Many of them have focused on improving their product or service. But whatever your business is, whatever sector you compete in, you have to have a strong desire to create meaning. You have to create a deep change in the world with your business. Always ask: How do I make a difference in the lives of my clients? How does my product / service manage to solve a problem in their everyday lives? I assure you that money is just a natural consequence of answering this question. Google has democratized information. The goal was to have all the information available on a single computer. Google, in this sense, has changed the world. Youtube has democratized videos. Anyone can create a video easily and for free. Youtube offers a place to express yourself and communicate through the videos. Ebay has democratized business. Anyone can sell anything they want to get rid of, without obstacles, without barriers. In a few minutes. Today, thanks to Ebay, we can do business with anyone in the world. I-Tunes and Amazon have democratized the publishing industry. Today anyone can write a book and publish it. Facebook has made contact with people, helping us all keep in touch with the old friendships as well as establish new ones. Whatsapp has changed the way we communicate, with its brevity, its speed. I could give hundreds of example. What does your business do? How can you change the world?   Jump to the next arc What’s the next arc in your industry? Each...

How can a business differentiate itself from international competitors?

In an international market it has become fundamental to create an added value in your bid for business. After all, the position of a product as compared to competitors is one of the main reasons why a company fails or succeeds when entering a new market. Simply assuming that opening up a shop abroad will automatically make you competitive may not be enough for your internationalization strategy. The continuous growth of e-commerce allows customers to compare your offer with others all over the world, so the parameter for which a customer chooses a product is no longer based on physical proximity, but rather on unique features. So, what are some of the main strategies? Let’s look at three of the most popular: Competitive Price Offering a lower price than the competition is certainly one way to make your product stand out, but it can also be dangerous. All it takes is for someone to undercut your prices, and you lose your edge. Then, if you lower the prices again, not only does your profit margin shrink even more, but you also risk setting of a price war. You should also keep in mind that in the eyes of the customer low price is often associated with low quality. Offer an exclusive niche product This is a winning strategy: offer a product that satisfies a specific need for a certain group of people. This means less competition and more profit! In fact, starting from this concept, you’re setting yourself up for even more success as a market leader. Become the market leader. Statistically speaking, customers tend to only remember the...

“Learn to Delegate in 1 hour” by Paolo A. Ruggeri – Free Ebook

Delegation means to authorize someone to take action in your place, and is a neccessary skill for all entrepreneurs who feel they “don’t have enough time”. Let’s take a look at what we should and shouldn’t delegate: Activities to delegate 100% You should delegate all production and service delivery. If you think about it a moment, when you go to visit an important doctor who is a leader in their field, it is often their staff that takes care of everything. In some cases you won’t even meet the doctor, but instead deal with one of their assistants. Their fame and the stringent quality standards that they built over time take care of everything. It should work the same way in your company: you have to build a rigorous and effective system that is able to take care of customers.   Activities to delegate 50% You should delegate all Administrative activities except for human relations and financial or fiscal decisions that contain strategic aspects, as we will see shortly. You should delegate all Commercial activities with a few exceptions: once again the important meetings, human relations, direct human relationships with leading commercial players (which may be managed by a Sales Manager, but with whom you also, occasionally, maintain a relationship even if more casual – how are you, how are things, I’m happy we’re helping you accomplish your goals, is there anything I can help with – rather than operational or managerial) or, in the case of smaller companies, relationships with the larger customers. As for Marketing, you should delegate all the operational aspects, but be present to give...

The 3 big advantages of internationalization that all SMEs should be talking about

Internationalization is an opportunity that is having more and more success among the expansion options of many entrepreneurs, especially in SMEs. We often hear about data, research and market trends. But an interesting question is: what are the three main advantages in developing a successful internationalization strategy? The most common reasons why SMEs turn to internationalization are usually related to one of these issues: – Declining sales – Saturated and stagnant domestic market “Acquiring information” is rarely mentioned in the list of reasons why a business becomes international, but carries a great importance. In fact, companies who don’t consider this factor tend to find themselves in a very vulnerable position. We must always be aware of what competitors offer and how they offer it, in order to give added value to our own offer in any market. There are several things you can do to give yourself a head-start in internationalization. Today, let’s take a look at the top 3 ways you can ensure you get good results: Using marketing campaigns targeted to acquire new customers through a call to action (for example: “For more information call / write”). The benefit is that by doing so you can measure the results, so you know right away how much you spent on marketing and what you’ve gained (i.e. number of leads per campaign). By doing so you can get to see which action has worked and which not, which it’s better and which is the one that perhaps has to be improved. Fully exploiting the web. The internet is an essential tool in any internationalization strategy, and it is also...