How Employees Factor into the Success of Your Business

Quality employees are essential for the long-term success and growth of any business.  Many entrepreneurs learn this simple fact far too late.  Regardless of what kind of business you own, a handful of key employees can either make or break you.  Sadly, businesses have been destroyed by employees that don’t care, or even worse, are actually working to undermine the business that employs them.  In short, the more you evaluate your employees, the better off you and your business will be. Forbes’ article “Identifying Key Employees When Buying a Business”, from Richard Parker does a fine job in encouraging entrepreneurs to think more about how their employees impact their businesses and the importance of factoring in employees when considering the purchase of a business.  As Parker states, “One of the most important components when evaluating a business for sale is investigating its employees.”  This statement does not only apply to buyers.  Of course, with this fact in mind, sellers … [Read more...]

Centrally Located Hyannis Mixed Use Investment Property

    Hyannis, MA -Located in the exciting Sherman Square end of Main Street, this mixed use property is composed of 2,718 SF on a prime corner lot with excellent visibility. Street level retail store has ample windows for beautiful display opportunities. Street parking readily available on both sides of the building, both on Main Street and South Street. Upstairs two residential apartments (one studio and one 1 bedroom) provide extra income on this investment property. Perfect for owner occupied business opportunities. Main Street Hyannis has been enjoying a vigorous and exciting surge of investment in the last 10 years. Many investors are flocking to this rediscovered economic  center of Barnstable, realizing the growing interest in smaller independent stores and restaurants. Now a thriving destination for tourism, pedestrians mill around the galleries and shops all summer long, from early morning to late in the evening. It also falls under the GIZ district (Growth … [Read more...]

Do You Have an Exit Plan?

"Exit strategies may allow you to get out before the bottom falls out of your industry. Well-planned exits allow you to get a better price for your business." From: Selling Your Business by Russ Robb, published by Adams Media Corporation Whether you plan to sell out in one year, five years, or never, you need an exit strategy. As the term suggests, an exit strategy is a plan for leaving your business, and every business should have one, if not two. The first is useful as a guide to a smooth exit from your business. The second is for emergencies that could come about due to poor health or partnership problems. You may never plan to sell, but you never know! The first step in creating an exit plan is to develop what is basically an exit policy and procedure manual. It may end up being only on a few sheets of paper, but it should outline your thoughts on how to exit the business when the time comes. There are some important questions to wrestle with in creating a basic plan and … [Read more...]