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Technology for Small Businesses

by Diane LoupeAugust 4, 2019 Business Marketing, GABB Meetings, Small Business, Technology for Small Businesses0 comments

Learn Simple, Effective Marketing Success Secrets on Aug. 21

Diane Conklin is an internationally known author, entrepreneur, coach, consultant, marketing and business strategist, implementation specialist and speaker.

Find out how you can harness a simple, effective marketing strategy to grow your business when internationally known author, marketing and business strategist Diane Conklin speaks on Wednesday, Aug. 21,  to the Georgia Association of Business Brokers. The GABB is the state’s largest association of professionals dedicated to buying and selling businesses and franchises.

Diane’s topic, “Marketing Success Secrets: How To Grow Your Business & Attract More Ideal Clients With Simple, Effective Marketing Strategies,” will include tips specifically aimed at business brokers and their clients.

The GABB meets at the Georgia Association of Realtors at 6065 Barfield Road, Sandy Springs, GA, 30328, and the meeting will last from 10:30 a.m. to noon preceded by a free light breakfast networking session at 9:45 a.m. Rob Tamburri, CPA PFS, managing partner of Balog + Tamburri, CPAs, is the sponsor of the meeting.

Diane is a direct response marketing expert who specializes in showing business owners how to turn their businesses into money making machines using rapid profit acceleration, leveraged business growth and strategic implementation by integrating their online and offline marketing strategies, media and methods, to get maximum results from their marketing dollars with Complete Marketing Systems.

For more than 25 years Diane has been leading small businesses to bigger profits through her coaching, consulting, marketing funnels, systems, live events and by providing done-for-you services to clients all over the world.  As the founder of Complete Marketing Systems, Diane has been involved in many campaigns grossing over $1,000,000.00 several times in her career, and she routinely helps people grow businesses to six figures, and beyond. Diane was voted Glazer-Kennedy Marketer of the Year for her innovative marketing strategies and campaigns and was nominated for Atlanta Business Woman of the Year.

The monthly meeting begins at 10:30 a.m. and is preceded at 9:45 a.m. by a free light breakfast and networking session. There is networking with coffee and pastries from about 9:45 to 10:30 and the meeting will last from about 10:30 to somewhere between 11:30 and noon.

The GABB is the state’s largest and oldest association of professionals who specialize in brokering the purchase and sale of businesses and franchises. Broker members help owners determine the asking price of their business, create marketing plans and strategies for selling their business, identify and qualify buyers, and have the knowledge, experience and skills needed to help maintain the confidential nature of the process. The professionals of GABB relentlessly pursue professional development so they can provide superior, ethical services for all customers and clients. Affiliate members include bankers, lawyers, appraisers, insurers and other professionals who work closely with brokers to help owners and buyers get to the closing table.

For more information about GABB, please contact GABB President Dean Burnette at 912-247-3209 or dean@b3brokers.com, or GABB Executive Director Diane Loupe at diane@gabb.org or 404-374-3990.

Meeting Attendance

People who are not GABB members may sign up to let us know they will attend a GABB meeting.

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by Diane LoupeJune 28, 2019 education, litigation, Small Business, Technology for Small Businesses, testimonials, Uncategorized0 comments

Business Buying Scams to Avoid

By Linda Collett, J.D., GABB Affiliate
If a potential client comes to you with something that sounds fishy or too good to be true, trust your gut. Here are some red flags:

1. They want  you to hold money in your escrow account (usually a large dollar amount so the deal is attractive).  The risk is that the deal or client requires you to transfer some or all of the money out of your account before you bank has time to verify the funds are legit and can cover the transfer. This actually happened to a Georgia attorney awhile back and it was in the AJC. Talk about bad publicity for the attorney who got suckered;  he was very embarrassed.

2.  The transaction involves an overseas or out-of-state company wanting to do a deal with either an individual or a business in located Georgia, and they need a Georgia attorney or other professional to represent them.

3.  They don’t tell you who the business is that they represent or want you to represent, but they do give lots of details about the transaction including attaching documents. Those details are to make it sound legit. There could be a legitimate reason not to disclose the parties until you sign a non-disclosure agreement or, in the case of an attorney, you officially represent your client and have attorney-client confidentiality, but it’s a signal to dig deeper before agreeing to anything.
4.  If they do give you a company name, the company can’t be found online.  Or, in one instance that happened to me, the Georgia company was real, but when I contacted it to verify the deal, they were not aware of it. They were quite alarmed that their company name was being used to potentially commit fraud.  I think they reported it to the police.
5.  The deal sounds too good to be true, either in terms of the dollar amounts involved (possible big legal fee) or that they’ve done the bulk of the work already. I’m not aware of all the possible risks of that situation but #1 above is one way the attorney or whomever is using their escrow fund can be defrauded. Turns out many attorneys got the same email as the attorney in #1 above but the guy in the article was the only one who admitted to taking the bait and losing a lot of money — into five figures.
6. The inquiry comes by email and the person can’t meet in person for some reason— i.e.  they’re located out-of-town usually. Again, could be legit but it’s a flag to look deeper.
7.  You can tell by the email that English is not their first language. Now, there are plenty of legitimate businesspersons who don’t speak English as a first language. But this, coupled with other suspicions, can signal a scammer.
8.  They try to use legal sounding words, but in my recent situation that backfired because what he wrote made no sense and was a clue that it possibly wasn’t legit.
9.  The length of the email can be short or long but it always involves some kind of exchange of money—some that I’ve seen include buying a big piece of equipment, collecting a bad debt, buying a business, you get the picture.
10. If you ask a question or seem like you might be interested then later say ‘no’ they get really pushy.
If you do find that you are the victim of a scam artist, you should contact a white collar criminal law attorney as soon as possible to determine your options.
Linda is the founder of  The Collett Law Firm and uses a collaborative approach to help clients make business decisions within their level of risk tolerance. Her well-written, plain English contracts give her clients peace of mind by minimizing potential disputes and misunderstandings with their clients, vendors, contractors, employees, and business partners. 
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by Diane LoupeApril 27, 2019 Seller Articles, Selling a business, Technology for Small Businesses, valuation0 comments

Embracing Technology to Boost Your Business

Technology can help business owners get top dollar when selling their business, according to Keith Gregg, Chairman/CEO of Chalice Wealth Partners, a San Diego-based wealth tech member organization for independent wealth advisors.

Gregg, in February 8, 2019 article in Forbes, “Using Tech to Enhance and Sell a Business,” says some small business owners limit their search for a potential buyer to their professional network or rely on an appraisal service to determine what their business is worth. He writes that the right technology can help avoid these pitfalls. He explains how important it is to address three important areas before placing your business on the market.

Upgrading Systems

Before looking for a buyer, Gregg recommends upgrading aging software and hardware. Upgrading systems can be particularly important for attracting younger buyers.  It is common for businesses to be successful without proprietary technology or procedures, but that doesn’t mean that technology should be ignored.

Important information should be digitized, as this data will be vital for the new owner to grow the business over the long haul.  Incorporating software that can track and analyze data across the business is likewise valuable. Using software, such as customer relationship management and financial management software, will showcase that your business has been modernized.

Business Valuations

Determining the value of your business can be tricky and laborious.  Gregg recommends opting for a professional business valuation, as he feels, “business valuation calculations can remove much of the guesswork from the process.”

You should expect a business valuation calculator to include everything from verified data on comparable business deals, including gross income and cash flow figures and more.  There are even industry-specific calculations that can be used as well. The main point that Gregg wants to convey is that business owners should use tangible and proven data to sell their businesses.  Like upgrading systems appeals to younger buyers, the same holds true for using verified data to sell.

Take Advantage of the Digital Marketplace

Gregg’s view is that perhaps the single greatest technology for business owners to leverage is that of the digital marketplace.  Sites that link businesses with prospective buyers can help to streamline and expedite the sales process. Through such sites, it is possible to go deeper than a specific industry and even explore sub-sectors, thus enhancing the chances of finding the right buyer.

Technology can be used to help sell businesses in a variety of ways.  An experienced and proven business broker will leverage a whole range of tools to assist business owners when selling their businesses.  When you opt for a proven business broker, you can expect to receive offers from serious and vetted buyers and, in the process, save a great deal of time while maintaining confidentiality.

Copyright: Business Brokerage Press, Inc.

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by Diane LoupeApril 12, 2019 Business Marketing, GABB Meetings, Small Business, Technology for Small Businesses, Uncategorized0 comments

Marketing Strategist to Speak Aug. 21

Diane Conklin is an internationally known author, entrepreneur, coach, consultant, marketing and business strategist, implementation specialist and speaker.

Find out how you can harness a marketing strategy to grow your business when internationally known author, marketing and business strategist Diane Conklin speaks on Wednesday, Aug. 21,  to the Georgia Association of Business Brokers. The GABB is the state’s largest association of professionals dedicated to buying and selling businesses and franchises.

The GABB meets at the Georgia Association of Realtors at 6065 Barfield Road, Sandy Springs, GA, 30328, and the meeting will last from 10:30 a.m. to noon preceded by a free light breakfast networking session at 9:45 a.m. Rob Tamburri, CPA PFS, managing partner of Balog + Tamburri, CPAs, is the sponsor of the meeting.

Diane is a direct response marketing expert who specializes in showing business owners how to turn their businesses into money making machines using rapid profit acceleration, leveraged business growth and strategic implementation by integrating their online and offline marketing strategies, media and methods, to get maximum results from their marketing dollars with Complete Marketing Systems.

For more than 25 years Diane has been leading small businesses to bigger profits through her coaching, consulting, marketing funnels, systems, live events and by providing done-for-you services to clients all over the world.  As the founder of Complete Marketing Systems, Diane has been involved in many campaigns grossing over $1,000,000.00 several times in her career, and she routinely helps people grow businesses to six figures, and beyond. Diane was voted Glazer-Kennedy Marketer of the Year for her innovative marketing strategies and campaigns and was nominated for Atlanta Business Woman of the Year.

The monthly meeting begins at 10:30 a.m. and is preceded at 9:45 a.m. by a free light breakfast and networking session. There is networking with coffee and pastries from about 9:45 to 10:30 and the meeting will last from about 10:30 to somewhere between 11:30 and noon.

The GABB is the state’s largest and oldest association of professionals who specialize in brokering the purchase and sale of businesses and franchises. Broker members help owners determine the asking price of their business, create marketing plans and strategies for selling their business, identify and qualify buyers, and have the knowledge, experience and skills needed to help maintain the confidential nature of the process. The professionals of GABB relentlessly pursue professional development so they can provide superior, ethical services for all customers and clients. Affiliate members include bankers, lawyers, appraisers, insurers and other professionals who work closely with brokers to help owners and buyers get to the closing table.

For more information about GABB, please contact GABB President Dean Burnette at 912-247-3209 or dean@b3brokers.com, or GABB Executive Director Diane Loupe at diane@gabb.org or 404-374-3990.

Meeting Attendance

People who are not GABB members may sign up to let us know they will attend a GABB meeting.

GABB Million Dollar Club Application 2019

  • Accepted file types: jpg.
    Photo should be recent, in color, should depict the face or face and shoulders of the member, and should be high quality, at least 1MB.
  • Accepted file types: pdf, txt, doc, docx.
    Please attach a brief (one paragraph) biography. It should include your name, your title, the name of your firm and the city where it's located, where you attended college, where you reside, and other honors. For example, you'd want to list any board memberships. These biographies are subject to being edited by GABB to conform to common press release standards.
  • Please list media outlets who should receive the GABB Million Dollar Press Release. Include emails or websites if you can.
  • Accepted file types: pdf, txt, doc, docx.
    Please upload a copy of the closing statement for each qualifying transaction. To be eligible for the 2019 Million Dollar Club, transactions must close between 11/1/18 through 10/31/19.
  • Please enter the dollar value of this transaction.
  • Accepted file types: pdf, txt, doc, docx.
    Please upload a copy of the closing statement for each qualifying transaction. To be eligible for the 2019 Million Dollar Club, transactions must close between 11/1/18 through 10/31/19.
  • Please enter the dollar value of this transaction.
  • Accepted file types: pdf, txt, doc, docx.
    Please upload a copy of the closing statement for each qualifying transaction. To be eligible for the 2019 Million Dollar Club, transactions must close between 11/1/18 through 10/31/19.
  • Please enter the dollar value of this transaction.
  • Accepted file types: pdf, txt, doc, docx.
    Please upload a copy of the closing statement for each qualifying transaction. To be eligible for the 2019 Million Dollar Club, transactions must close between 11/1/18 through 10/31/19.
  • Please enter the dollar value of this transaction.
  • Accepted file types: pdf, txt, doc, docx.
    Please upload a copy of the closing statement for each qualifying transaction. To be eligible for the 2019 Million Dollar Club, transactions must close between 11/1/18 through 10/31/19.
  • Please enter the dollar value of this transaction.
  • Accepted file types: pdf, txt, doc, docx.
    Please upload a copy of the closing statement for each qualifying transaction. To be eligible for the 2019 Million Dollar Club, transactions must close between 11/1/18 through 10/31/19.
  • If you have additional qualifying transactions, please email the closing statements for these transactions to georgiabusinessbrokers@gmail.com. Please enter the total dollar value of these transactions.
  • If you have additional qualifying transactions, after you complete this form, you will be sent a link to another form to submit them. If you have a problem with this step, contact Diane Loupe at georgiabusinessbrokers@gmail.com or 404-374-3990
  • American Express
    Discover
    MasterCard
    Visa
      
    An application fee of $100 must be submitted to be eligible for this award. .
  • By typing my name above, I am signing this form, signifying that I, the above-named Applicant, hereby affirm that I have read the Rules and Regulations of the current year's Million Dollar Club of the Georgia Association of Business Brokers, Inc., (see link) and I hereby make application for membership in the Million Dollar Club of the Georgia Association of Business Brokers, Inc. In order that this application be considered, I hereby represent that I personally handled, during the eligible time period, the business transactions described on the attached forms totaling $1 million or more, and that said transactions qualify for the GABB Million Dollar Club volume as described in the Rules and Regulations. SIGNATURE OF APPLICANT
  • Please enter the email of the applicant's designated broker.
  • According to GABB Million Dollar Club rules, qualifying brokers must attend at least three GABB meetings, conferences or other events in order to be eligible for the club. Please list the events you attended.
  • By typing my name above, I am signing this form, signifying that I, the Applicant’s Designated Broker, affirm that I have read the Rules and Regulations of the current Million Dollar Club of the Georgia Association of Business Brokers, Inc. and I have read and reviewed the Application and represent that it is true and correct and that the Applicant has met all of the qualifications for admission in the GABB Million Dollar Club as set forth in said Rules and Regulations. I also affirm that all of the herein information is in accordance with our company records and that there were no cooperating agents except as shown herein either in or out of our office and that a commission was paid in cash or collectible note for each transaction. I understand that should there be any misrepresentation in form and/or content of the herein Application, other than typographical or mathematical mistakes, that the herein Applicant shall be automatically disqualified and the Applicant, and I will be reported to the Professional Standards Committee of the Georgia Association of Business Brokers, Inc. for appropriate disciplinary action. A copy of the closing statement prepared by the closing attorney for each transaction is attached to this form. I certify that all transactions submitted were included in the GABB.org business listings or BizBuySell and that any transactions that did not appear were exempted by the GABB. All documentation required by the GABB or the BizBuySell system for exempted transactions is attached to this form. I understand that the inclusion of these exempted transactions could result in an audit of any or all of our company’s transactions and listing records. I further certify that all transactions included have been or will be included in the GABB.org website. SIGNATURE OF APPLICANT'S DESIGNATED BROKER
  • Accepted file types: pdf, txt, doc, docx.
    Please upload a copy of the documentation allowing exemption of transactions from being listed in GABB.org or BizBuySell listing rules. Transactions must close between 11/1/18 through 10/31/19.
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by Diane LoupeApril 19, 2018 Business Marketing, Business Valuation, Buyer Articles, Seller Articles, Small Business, Technology for Small Businesses, Uncategorized0 comments

Gearing Up for the U.S. Economic Census

Every five years, the U.S. Census Bureau collects extensive statistics about businesses that are essential to understanding the American economy.  This official count, better known as the Economic Census, serves as the foundation for the measurement of U.S. businesses and their economic impact.

This is free data you can use for your business.

As part of the Census Bureau’s mission to provide timely information on the health of the U.S. economy, this “business” census serves as the most extensive collection of data related to business activity.  Nearly 4 million businesses, large, medium and small, covering most industries and all geographic areas of the United States will receive surveys tailored to their primary business activity.

The data produced from the Economic Census are important for your industry, your community and your business:

  • Statistics from the Economic Census provide policymakers with the evidence based information used to make sound programmatic decisions.
  • Federal agencies rely on the data as the basis for key measures of economic activity, such as the Gross Domestic Product (GDP), National Income and Product Accounts (NIPAs), and the Producer Price Index (PPI).
  • Trade and Business associations, along with Chambers of Commerce, rely on Economic Census data to measure key business facts they can use to gauge organizational structure and product trends.
  • Individual businesses use the data from the Economic Census to make decisions about operating sites, capital investments, and product development.

The extensive and comprehensive data products include over 950 detailed industries across 18 industrial sectors classified using the North American Industry Classification System (NAICS).  Geographic Area Series reports containing general statistics will be produced for nearly 21,000 geographic areas including the U.S. Territories.  Additionally, over 7900 goods and services products will be released for the first time on the new North American Product Classification System (NAPCS) basis.

The key statistics produced for the Economic Census include Total Number of Establishments; Value of Sales, Shipments, Receipts, Revenue; Primary Business Activity; Total Number of Employees; Total Annual Payroll; Total First Quarter Payroll; and industry specific statistics.

Starting with this Economic Census, respondents will use an online, secure portal to respond making filing easier while at the same time improving data quality and reducing costs.  Small companies located in the U.S. territories will have a paper option available, including a Spanish version for Puerto Rico.

To find out more about the Economic Census and how you can use Census data for your business,  visit the U.S. Census Bureau’s Economic Census page.

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