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The absolutely most deadly trap for new entrepreneurs selling their services is sprung when it comes time to state a price. Too many stammer, hem, haw, and underbid in a desperate attempt to land new work. Unfortunately, clients don’t want to hire desperate people, they want to hire success. Read on to find out how to price your products and services like a [...] The old saw of selling is “I’ll let you set the price if you let me set the terms.” What it means is that the Devil is in the details and if you are selling a business that you have lovingly built with your sweat and sacrifice (and that you now want to get the maximum value from) then you had better be prepared to get to know your buyer very well and be prepared to spend some quality time with your lawyers and accountants. Understanding what it is that your potential buyer really wants and what it is worth to her can be the difference between a happy and harmonious transfer and a would-be suitor and a jilted bride snarling at one another while the lawyers circle, cackling madly like [...]  As a hustling, entrepreneurial business person find out what do you need to look for in a bank to solve your business needs. Also, understand why you really need a separate bank account for your [...]  Being self employed is fantastic! There is no one to tell you what time you need to be at work or what you have to wear or to pay for your health insurance and for half your payroll taxes. [...]  How much is it worth? You’ve put a monstrous amount of work and time into your business, perhaps now its time to figure out what all of that sweat and stress is really worth. Maybe you are applying for a loan, raising money for expansion, talking with investors, or considering selling. [...] Since reading “Found Money, Simple Strategies to Uncover the Hidden Profit and Cash Flow in Your Business” I have developed an enormous man crush on Steve [...] Cash is the lifeblood of business and understanding how the statement of cash flows works is essential for every aspiring Richard Branson or Mark Zuckerman. Putting together your cash flow statement can be tricky for the newbie but is actually very easily mastered with this simple [...] How much are you worth? Many self-made business people, famously including Robert Kiyosaki in his best-selling blockbuster “Rich Dad’s Prophecy,” emphasize the importance of creating a personal financial statement to help the entrepreneur track their income and change in net worth. [...] What to do when you wake up to the fact that you will be living off the soon to be barely existent Social Security when you retire? You’ve got kids, a mortgage, and other bills you can barely squeeze in and now you come to the realization that the prime saving years of your life are rapidly passing you by. Is it time to take drastic action? Is your spouse on board? How far are you willing to [...] 2010′s Great Roth Conversion isn’t just a neat, one-off tool for the rich, it can have repercussions for the hungry, up-and-coming entrepreneur as well. Roth plans can be a boon long-term for those who believe that they will end up in a higher tax bracket in the future than the one that they are in now. Since every entrepreneur is a dyed-in-the-wool optimist, if you’re not currently in the highest tax bracket, you probably plan on being so in the future! So let’s review what makes the Roth so attractive and see who are the primary candidates who could benefit from a Roth conversion or a Roth [...] |
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