Pricing Your Business
Pricing A Business Too High Is A Risky Strategy
Often, sellers want to go to market with very high prices for their businesses, hoping buyers will appreciate what the sellers perceive as great values. Sellers assume that buyers will at least take time to check out the businesses.
In reality, there are many qualified buyers who won’t even look at a company if they think the price is out of line with economic realities. Every business has a “reasonable value.” That value may increase if a buyer will gain strategically because of increased revenue and decreased operating expenses by integrating that particular new business into his or her own. The additional “premium” paid will be based on the value of those synergies the buyer will gain. However, even the additional strategic value is not going to result in a buyer paying an unreasonably high price for the business.
Wisdom of the Crowd
No matter what you've accomplished, here's how you can shake up the status quo and embrace new ideas
We’ve always done it this way. I bet you’ve heard that one a few times. Regardless of whether you’ve heard your own employees say it, we all occasionally come into contact with businesses that:
• Are using outdated business practices.
• Never make any attempt to find out what their own industry’s leaders are doing.
• Never make any attempt to find out how other industries are solving problems and how those approaches could be applied to their own industry.
• Never challenge the status quo.
Many “new ideas” are nothing more than recycled, renamed and revamped versions of longtime, tried-and-true approaches. There are so many good ideas out there that it’s foolish – heck, even arrogant – to not tap into them ... no matter who you are or what you’ve accomplished. If you discover an idea that’s better than the way you’re now doing it, why not use it?
The Law of the Beehive
Drones Create New Legal Buzz
James G. Nowogrocki
Coming soon to the sky near you may be a modern-day honeybee, aka an unmanned aerial vehicle (UAV), the official name of a "drone."UAVs have made an important appearance at each of these recent events: The great Boston blizzard of 2015, A fire at a peanut factory in Georgia, Journalism classes at the University of Missouri.
And now the law is evolving to catch up to technology, which introduces a nest of important issues concerning privacy, security and commercial freedoms. That contrasts with the simple origins of a drone, the male honeybee who, unlike worker bees, needs not worry about gathering nectar or pollen. By the 16th century, "drone" referred to lazy individuals, too.