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Friday, Nov. 28, 2014
Congruence
Posted Tuesday, November 11, at 9:58 AM
Congruence explains how things correspond or agree with each other and it has EVERYTHING to do with selling your business. Many buyers mystery visit your business before they make an offer on it. They want to see how your website, collateral materials, products, and staff interact with them as a customer. ...

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Turning the Tide on Financing
Posted Friday, October 10, at 8:58 AM

The Business Brokerage Press just released the results of a nationwide survey that confirmed what seems to be a no-brainer: A lack of available financing was the biggest obstacle to someone buying a business in 2013. You may be thinking, "No kidding. ...

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Peak Performance vs. The Lame Duck
Posted Monday, September 15, at 10:51 AM

Business owners usually contact a business broker when they're tired of running their company. Whatever their reason, they're done. The end is in sight and they may have had one foot out the door for a while. They may also react poorly when we advise them to operate their business at peak performance while we're trying to sell it...

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What is an Earn-out?
Posted Wednesday, August 13, at 8:11 AM

We're emerging from a recession and earnings have been slightly (or more than slightly) down over the past few years. Sellers know they have a great business and that it will rebound in the coming years. Buyers get that vision, but aren't willing to pay for it up front. Therein lays the "valuation gap."...

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Delighted by Dell
Posted Friday, June 13, at 11:08 AM

I order a new laptop a few weeks ago and the day it arrived I could hardly contain my excitement! It's been so long since I've had a new computer that I had forgotten what a pain they are to configure, and all the things you take for granted every day (like email addresses that auto fill)!...

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Can You Believe It?
Posted Thursday, February 13, at 1:43 PM

LinkedIn is a popular social networking site for business professionals, so you might assume that it is trustworthy. I recently discovered otherwise. A colleague recently approached me at a Chamber function to thank me for endorsing him on LinkedIn. ...

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GoDaddy.com Makes Lemonade
Posted Wednesday, September 12, at 11:44 AM

When life hands you lemons – make lemonade. That’s exactly what GoDaddy.com did this morning in response to a server outage that caused millions of websites to be temporarily unavailable on Monday. Your own website may have been one them: GoDaddy.com hosts more than 5 million websites and manages DNS routing for millions more, mostly for small businesses. The outage even affected their own site...

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The Customer Service Halls of Fame and Shame
Posted Tuesday, July 10, at 4:54 PM

For the last six years, MSN Money has published a Customer Service Hall of FAME and also a Hall of SHAME. In conjunction with JZ Analytics, they asked consumers to share how satisfied they were with recent interactions among some of the largest companies in the United States. The 2012 lists:...

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Consider Seller Financing
Posted Tuesday, May 8, at 2:59 PM

When I ask a business owner who wants to sell his business whether or not he’s willing to finance a portion of the purchase price himself, the answer is usually “No.” Generally, that means that he is either not motivated to sell in this environment (where banks aren’t able to lend as much to potential buyers as they were a few years ago,) or he hasn’t carefully weighed the benefits of seller financing. ...

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All Great Ideas Are Dangerous
Posted Friday, April 6, at 4:16 PM

“All Great Ideas Are Dangerous.” – Oscar Wilde Admit it: You have a great idea. Maybe you’ve shared it with someone else, maybe you’ve sketched something on a cocktail napkin and maybe you’ve kept it all to yourself, but still – you have a great idea for something. ...

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Questions Have Answers
Posted Tuesday, February 28, at 10:24 AM

A few of our clients have asked us to help them develop their websites and arrange hosting for them once developed. We always give our clients a choice when making referral recommendations and consequently learn quite a lot about the various hosting companies’ business practices. ...

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It's All About the Earnings
Posted Thursday, February 16, at 5:57 PM

I've had the same conversation with several business owners recently who want to sell their business. They talk about how exciting the industry is, how much potential there is to grow, how they plan to market the company going forward and how much another person/people would enjoy owning this business. After all the hype, I asked them the same question: What have the business' earnings been in the past three years? Silence. Squirm. *Ahem*. Well...not so good, they say...

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Branding is a Verb
Posted Thursday, February 2, at 2:29 PM

Our daughter is learning the difference between nouns and verbs and it started me thinking that marketing is chock full of nouns but there's really only one verb: Branding. Marketing is filled with "things." There are logos, taglines, colors, layouts, images, talking points and all the materials we print and publish using those things. ...

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The Right People - Part 2
Posted Thursday, January 19, at 12:29 PM

Job Security. Our parents and grandparents had it. Not because of who they were, but because of the time in which they lived and worked. Their career was their identity: He was an insurance agent, she was an architect, he was a teacher, she was a nurse. ...

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The Right People
Posted Monday, January 16, at 3:07 PM

In his book Good to Great, author Jim Collins encourages business owners to get the right people on the right bus and in the right seats. He also encourages us to get the wrong people off the bus entirely. I like this concept because it’s about people – not positions. ...

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Using Your Retirement Dollars to Fund Your Business
Posted Monday, January 2, at 1:49 PM

One of the greatest challenges for small business owners (and those who aspire to be small business owners) is securing adequate funding. There is a wide variety of loan programs offered by a wide variety of financial institutions, but actually getting access to the money is something else entirely. ...

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Be Careful What You Wish For
Posted Friday, December 9, at 10:02 AM

Need a Cake Bakery wished for more customers. They were selling an average of 1,200 dozen cupcakes each month and, in order to boost that number higher, they created a promotion on Groupon - a website that promotes deep discounts to a wide audience. ...

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Curb Appeal
Posted Tuesday, November 22, at 10:05 AM

It takes the same amount of time for someone to form their first impression of you as it does for you to read this sentence. It doesn’t take much longer than that for someone to form their first impression of your business. What impression does your business make?...

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The Ownership Mentality
Posted Tuesday, November 8, at 10:33 AM

Owners generally behave differently than non-owners. Ask a landlord, car rental manager or entrepreneur. The typical tenant, lessee or employee treats the owner's property worse than if they owned it themselves. Business owners often take enormous risks in order to own their own business. ...

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Prepare for 2012
Posted Tuesday, October 25, at 10:16 AM

The end is near. No, not THAT end; I mean the end of the calendar year and if you're like most businesses, your fiscal year is also ending. Nothing warms the heart like spending time with family, enjoying great holiday food, and hunting down all of your W-9 forms. ...

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Jennifer Hendrickson was raised in Springfield, Mo., and has a bachelor's degree in finance and an MBA from Southeast Missouri State University, along with two graduate degrees in banking from Vanderbilt and LSU. After 15 years in financial services she moved to her husband's hometown of Cape in 2003. She left banking four years later to start a business consulting firm. Jennifer and her husband, Rhett, started Hendrickson Business Advisors, LLC in 2007. The firm provides management and marketing consulting services to small and mid-sized businesses across all industries. In 2010, they opened Murphy Business of Cape Girardeau, a locally owned office of a national business brokerage firm with 130 offices in the United States and Canada. Murphy Business helps individuals buy and sell businesses. Visit Jennifer's businesses online at www.HendricksonBusinessAdvisors.com and www.MurphyBusiness.com/CapeGirardeau. Jennifer can be reached at jennifer@hendricksonbusinessadvisors.com or at 573.335.1885.
Hot topics
Congruence
(0 ~ 9:58 AM, Nov 11)

Turning the Tide on Financing
(0 ~ 8:58 AM, Oct 10)

Peak Performance vs. The Lame Duck
(0 ~ 10:51 AM, Sep 15)

What is an Earn-out?
(0 ~ 8:11 AM, Aug 13)

Delighted by Dell
(4 ~ 11:15 AM, Jun 19)