How to Sell Your Business and Gaga Sells Gadgets
BY Max Chafkin
Tips on Selling Your Business. You've worked hard to build a successful business. When it comes time to sell it, make sure you get the most out of all that hard work. The New York Times has put together a handy primer on all the questions you should ask yourself before you decide to cash out. Among the questions: Can your business be sold? Are you ready to sell? And, what's your business worth? The article also includes a list of quick tips for selling your business and some recommended resources to help your research your decision.
Gadget trade show kicks off. This year's edition of the annual Consumer Electronics Show--a week long celebration of enormous televisions, tiny computers, and all manner of gizmos--begins in earnest today with a keynote from Ford CEO Alan Mulally. Engadget, as usual, has wall to wall coverage, and Inc.'s own Nadine Heintz will be reporting from the show. The Wall Street Journal says that gadget makers are upbeat about their prospects for the coming year--and more new products are expected to be launched this year than last. There will also be the obligatory celebrity appearances, headlined this year by Lady Gaga, who will be shilling for Polaroid.
An entrepreneurial FAQ. Even independent-minded entrepreneurs know that sometimes, especially when you're getting started, you need to turn to someone with more experience than you. In his time mentoring and fielding questions from young upstarts, Mike Michalowicz, noticed some recurring questions and collected a list of 50 of them on his blog, The Toilet Paper Entrepreneur. The Q & A session covers topics as broadly applicable as "how do you market with a limited budget?" to as specific as "do I really need a logo when I'm just starting out?" Some of Michalowicz's answers may be tough for aspiring entrepreneurs to swallow. In response to a common question about how to balance work and family life he writes, "You don't; especially at first. And the fact that you are asking this question before you have even put in your first five years with a new business, means that you probably are not cut out to be an entrepreneur." For a more nuanced take on this topic, check out Meg Cadoux Hirshberg's column on work-life balance.
The Entrepreneur's Bill of Rights. Negotiating with potential investors is never fun. But FirstMark Capital founder Lawrence Lenihan has a new blog post that might help take some of the nasty surprises out of the process. Check out his chart, which plots the entrepreneur's bill of rights vs. the venture capitalist's when it comes to funding. (Via peHUB)
99 problems, but branding ain't one. You can question his out-of-retirement comeback attempt (the new album has been panned by rap critics). But don't question Jay-Z's skill when it comes to branding. In this new piece, Esquire takes a look at the business acumen of the rap legend and Rocawear co-founder.
Business tips from women entrepreneurs.Fox Business shares the stories of four successful women entrepreneurs who turned their dreams into reality. One such entrepreneur is Gina Berta, of the Mountainside, New Jersey-based, Breathe Fitness. Berta went from being a certified trainer and group fitness instructor in 1983, to opening her own gym 20-some years later. She advises spending money in the right places to help your company stand out: "We changed our marketing from the first to the second year and our numbers jumped significantly... If you want to achieve certain goals, you have to invest in the right tools."
Best and worst airlines to book your business travel. Niggling fees and a reduced number of flights may have been a pain for business travelers, but the Wall Street Journal reports that some changes actually improved flight statistics last year. Airlines lost fewer pieces of luggage, arrived on-time more often, and reduced the time flights were delayed (if only by a meager two minutes). The best-performing airline was Southwest, which had the most flights that arrived on schedule and lowest rate of customer complaints. Worst on the list was American Airlines, which ranked last among its peers in arriving on time and handling baggage.