Blog for Business Buyers and Sellers

biz-stress2Starting a business may be the “American Dream,” but it can also be terrifying.  As exciting as it sounds to break free from the shackles of your 9-to-5 job, corporate American may appear comforting in comparison to the instability of entrepreneurship.  For example, you once had a team of experts at your disposal, not to mention peer support from coworkers, not to mention the stability of a regular paycheck.  You had 24-hour assistant from an “IT Helpdesk,” and someone to fix the printer when it broke down for the third time in a week.  

Leaving the security of a full-time job can be daunting, but there are three specific challenges that seem to affect all entrepreneurs – chief among them are stress, instability and solitude.  According to the experts in entrepreneurship, facing down these demons is the only way to overcome them.

payroll systemWhether you run a two-person operation or your business has 50 employees, setting up a payroll system is very important for entrepreneurs. Not only will it streamline your ability to stay on top of your legal responsibilities as an employer; it can also save time during tax season and prevent costly penalties from the Internal Revenue Service (IRS).

business expoOnce you have your business up and running, it soon becomes apparent how much you need to learn, how difficult it can be to find new clients, and how challenging it is to find reliable vendors. Perhaps these are the challenges that first spawned the idea of an "expo," but the concept is still very much alive.

business loanWe've all heard about that tenacious young entrepreneur who manages to start a global enterprise on a shoestring, with only zero-interest loans from family members; but is it really possible to get a new venture off the ground without a secret stash of cash in the bank? A recent article from Businessweek.com says yes! Late last year, the site published an article called "Getting a Business Loan Without Putting Up Personal Collateral," which was widely read by would-be business owners with very little cash or equity interests.

business broker 4When the time comes to sell your business, you have two options. One is to sell it yourself through your own network of contacts or targeted advertising; the other is to hire a business broker. While it's entirely possible to sell your business without any outside help, hiring a broker will be worthwhile if your time is at a premium. Busy entrepreneurs often find they have little time to deal with all the inquiries, requests and negotiations, and they may have a harder time differentiating between a serious prospect and a time-waster.

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