Should I buy a business or am I crazy?

I recently had a gentleman ask the question should I buy a business, or am I crazy? The answer is no, you are not crazy, and yes you should buy a business with certain caveats! I want to disclose here that I was a licensed Business Broker and I am writing this as personal, not legal advice.  I have tried … Read More

It’s not how fast you grow, but how well you grow fast!

While working at Xpert Tune we were trying very hard to expand the company and I was in charge of Human Resources. Having been given the task of hiring and training new managers for new stores that we were opening we would usually run an ad and receive over 100 resumes to choose from. We went through a period where … Read More

Management Depth, Can we Really Do That?

While serving as H.R. Director at the automotive Service Chain back in the late 1980’s we had just grown our company rapidly  from 12 to 25 stores and the owner wanted to buy out a large competitor out west with 244 stores for around $70 million dollars.   

What to do when asked for a price reduction?

First remember customers are not in business to be concerned what your costs are. Never respond immediately, say “I will have to get back with you on that!” and never give out detailed information that justifies the cost for your service or product and make sure your staff knows that this is a hard and fast rule. You don’t want to … Read More

Location, Location, Location

  So many questions to consider  when choosing locations! It really depends on what business you are in and who is going to buy from you. Here are a few things to consider. Do your customers come to you? Do you have to go to your customers? Do you have employees? Do you manufacture products for distribution?

How to diversify your Business to grow sales and increase stability!

Most people understand what it means to diversify so don’t resent me for giving a simple definition for the beginners. To diversify your business is to create or acquire a new product or service to offer your existing customer base. If your intention is to acquire a new customer base then to me you are really entering a new business. … Read More