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Buying or Starting a Business? Questions You Must Ask Yourself First

If you are thinking of Buying or Starting a Business, there are certain questions you must ask yourself first.
This report reveals useful information for anyone thinking of buying or starting a business.

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Buying or Starting a Business? Questions You Must Ask Yourself First

  1. 1. FROM: The Desk of Paul Forsberg, COO of Corporate Commercial Business Brokers, Inc. Buying or Starting a Business is one of the most exhilarating things you can do for yourself and your family. It’s also one of the scariest. Owning your own business means you’re the boss, the “big cheese”, the “head honcho”, the “go to” person. You make the rules - You lay down the law! Dear Friend, Let me start of by making you a BIG promise. If you will pay attention to what is in this free report and be willing to do the work, you will hold in our hand the key to success to virtually any business vault you like …… removes much from it as you like …. And create the life that you always dreamed about. As I said, that is a BIG promise and perhaps you are not yet convinced. But I’m convinced that if you read the rest of this report and take advantage of the opportunity that is presented to you ….. Then THANK YOU PAUL” will become your mantra. Entrepreneur American Heritage Dictionary en·tre·pre·neur (ŏn'trə-prə-nûr', -nŏŏr') A person who organizes, operates, and assumes the risk for a business venture One who starts a business or other venture that promises Economic gain but that also entails risks. Let me prove it to you! You don’t know me I realize, so let me briefly introduce myself … My name is Paul Forsberg and I am the COO of Corporate Commercial Business Brokers, Inc., but when we talk, please call me Paul. My first career was as a commercial fisherman and party boat operator in a small family business in Montauk, NY. I eked out a respectable living in that industry for about 20 years and was well respected amongst my peers. Along the way, I bought, sold and designed many big steel boats with little or no money, was the founding partner of what became the largest fresh seafood dock in the State of New York and was instrumental in making changes to the way seafood is handled on the boats, as well as how it is sold which are still used today. ---------------------------------------------------© Copyright For Reprint permission contact: Paul Forsberg Corporate Business Brokers 2485 Jen Dr. Melbourne, FL 32940 321-255-6022 www.SpaceCoastBusinessBrokers.com email Paul@CorpBizBroker.com
  2. 2. I got into construction in late 1990 and ended up building and selling two profitable and successful construction companies, and got into the Commercial Real Estate Business. It was only natural to include Business Brokerage into the equation because Commercial Real Estate and Business are very similar. It all has to do with the 3 most important words in both. Net Operating Income (NOI) which is the amount of money left over after all the bills are paid. It is what you have left over to make the bank payment and pay taxes. The rest goes into your pocket. Since Then …… I have been studying from the most successful business and marketing masters on the planet. Starting new businesses, getting them running and selling them. I’m proud to say 15 different corporations have been opened in that time frame. 14 of them were successful and 1 was a complete disaster. HOWEVER …..The bad one was a blessing because it gave me what I believe to be “The single most important thing you absolutely must know in order to make it in the business world. If you know this, everything else automatically falls in place” And that, my friend ….. Is what this report is all about. You picked up the paper, saw an ad, or have been cruising the internet and came across a website that got your juices flowing. You called the number, listened to the message and left your contact information – You either got this report in the mail, or someone handed it to you. Either way, it doesn’t matter – all that matters is that you READ it. You want to start a business and are willing to come to the “How To Buy or Start A Business” seminar. Congratulations for making the call. Most Sad, Sad Statistic: people don’t take any initial steps Heck – They never take any steps at all! And if they do, they just go out there with little or no information about their market, business, or idea of how much it will cost for starting up and try to “go it” al alone! They have no idea what they are in for. It’s a sad truth - that’s why the failure rate in new businesses is so high. I want to first congratulate you for taking that all important first step. Your initial action alone doesn’t guarantee success, 26% Fail within 1 year 19% Fail in year 2 14% Fail in year 3 60% Fail by year 5 You need to know this if you want to start a business from scratch. The success rate is much higher if you buy an established – ongoing business. ---------------------------------------------------© Copyright For Reprint permission contact: Paul Forsberg Corporate Business Brokers 2485 Jen Dr. Melbourne, FL 32940 321-255-6022 www.SpaceCoastBusinessBrokers.com email Paul@CorpBizBroker.com
  3. 3. but it certainly puts you well ahead of the ill-informed! Let me guess - you want to start your own business for one or more of the following reasons:  You are good at what you do and are not getting paid what you are worth. You do all the work or most of it, you never get any recognition from the boss He or she is never there and you end up doing it all. Then, when they do come in, they are the seagull manager type.  You realize you don’t have enough tucked away for retirement and want to do something about it. You have been faithfully putting money away each and every pay period and realize there is just not enough there and if you don’t do something soon, you’ll be “up the creek without a paddle”  You KNOW there won’t be enough in your Social Security Check to support you. You are well aware of the political mumbo jumbo going on in Washington and realize that neither political party has a clue as to what to do about social security. Heck - they are doing their best to give it away to the illegals anyway.  You are aware that the cards are stacked against you The Seagull Manager … They fly in squawking and making all sort of noise dropping crap all over the place, and as fast as they show up, they leave! when it comes to the IRS and taxes. You’re sick and tired and can’t stand the fact any longer and want to be paid FIRST and pay taxes on what’s left rather than continue paying taxes first and get to live off the rest .  You believe you have a fantastic idea and think you can make a bundle. You’ve been thinking of this product or service for so long, and you know it’ll be a hit. There is a huge demand for it, no one recognizes it, and you know you’re on to a winner ! You hate your job and know you can do better Which one did you choose? (You didn’t know there was going to be a test this early did you?) Did I miss any? What’s your reason? I’d like to know. Relax – there is no wrong answer. Any of them are entirely correct for you. ****Caveat Emptor -- Warning ****   Being a business owner is a lot of hard work in the beginning It can also be a lot of fun ---------------------------------------------------© Copyright For Reprint permission contact: Paul Forsberg Corporate Business Brokers 2485 Jen Dr. Melbourne, FL 32940 321-255-6022 www.SpaceCoastBusinessBrokers.com email Paul@CorpBizBroker.com
  4. 4.   The personal and professional satisfaction is immeasurable. Done right, you can make MILLIONS!!! Did you know that Most of the wealth in this great country of ours comes from the small business owner, and virtually all the IRS tax codes and deductions FAVOR businesses? For example,  A business owner can put away over $14,000 per year in their self-directed IRA and another $4,000 in the regular IRA while employees are limited to less than $4,000? That’s a $14,000 per year difference!  Employees pay taxes first. YUP- It’s taken right out of the paycheck. And the business owner pays their taxes LAST. Yep – a business owner pays everything else first, and pays taxes on what’s left over!   Would you like to buy a new car and write it off as an expense? How about go on a vacation and get “Uncle Sam” to pay for a good part of it? I’m not going to get into politics here, but our entire country is built on the backs of the small business owner. You see, if you do well and hire employees, you are creating jobs which translates to more money for the politicians to spend. There is No Better Time Then Now to Buy or Start Your Own Business If you can afford to lose money for the first couple years, go ahead and start a business from scratch. If you can’t, it is best to buy an existing business and make it better. You can’t learn business out of a textbook, no one can learn business from someone who teaches theory ******* It MUST be learned by doing. And there is no better You can keep your regular job until you are ready to way of doing than with move on your own. Heck – a tax increase is imminent. The last election we say payroll taxes increase a bit, and you someone who has can bet your bottom dollar they are going to go up AGAIN. “Been There – Done That” They are also beginning to go after your IRA and retirement funds! Add to it the health care bill and the working person is screwed. This will affect every single employee in America and have LITTLE or NO effect on business owners!! ---------------------------------------------------© Copyright For Reprint permission contact: Paul Forsberg Corporate Business Brokers 2485 Jen Dr. Melbourne, FL 32940 321-255-6022 www.SpaceCoastBusinessBrokers.com email Paul@CorpBizBroker.com
  5. 5. The goal here is to give you a brief overview of what you will be looking at, the hurdles you will have to cross, etc. If you decide that getting into business for yourself is right for you, we will work with you along the way and do whatever we possibly can to help you succeed. ****WARNING!!**** The sad truth is ….. About 60% of businesses fail within the first five years of opening the doors. I believe most of this can be avoided and by attending a business building seminar you will increase your success rate DRAMATICALLY! My goal here is to do my absolute best at changing that statistic. So, here we go …… First things first …. In order to succeed in business, you must know what you strengths and weaknesses are … this way, if you do what you are naturally good at or naturally like, your success rate is much higher. Choosing Your Ultimate Business Questionnaire This is probably one of the most important things you can do for yourself. Whether you go into a business of your own or not – It will open you up to what rings true to you – your whole life may change within a couple minutes – I know it did for me. Recently on Fox and Friends in the morning they had a woman on the show who did research and found out that about 60% of the working population suffer from the Sunday blues. Can you imagine… Being depressed on Sunday because you have to go to work on Monday? Imagine that! They are stuck in jobs they hate, stuck in the rat-race, doing worth they hate, just to make a check. What kind of life is that! INNER BASED ELEMENTS: Passion, Purpose, Natural Talents, Experience, Knowledge, Message, Learning  What are your personal interests? What do you love to do? What brings you joy?  What 3 non-fiction books would you have liked to have written?  What’s your purpose? How can you help serve others? ---------------------------------------------------© Copyright For Reprint permission contact: Paul Forsberg Corporate Business Brokers 2485 Jen Dr. Melbourne, FL 32940 321-255-6022 www.SpaceCoastBusinessBrokers.com email Paul@CorpBizBroker.com
  6. 6.  What are you really good at?  What do you like to do?  What are some of your God-given, inherent and natural talents?  What are your best characteristics and strengths?  What unique experiences have you had?  What are you knowledgeable about? What are your skills? What are your learned strengths?  What message would you love to share with people?  Who do you want to become?  What do you want to learn more about?  Look at all your answers. Format them as a list of possible business opportunities you could naturally capitalize on now or in the future.  Are there any threads? What topics keep coming up?  What businesses resonate with you? What business would you like to be in? OUTER BASED ELEMENTS HIGH DEMAND: Health, Basic Services, Technology, Beauty, Fine Dining, Recreational Activities, Spirituality, and Personal Growth TARGET MARKET: Who are you going to serve?  Consider your “inner based” topics. How can you combine your skills with Health, Wealth, Service, Technology, Beauty, Happiness, Relationships, Spirituality, and Personal Growth  How can you apply your business to a specific niche group or target market? ---------------------------------------------------© Copyright For Reprint permission contact: Paul Forsberg Corporate Business Brokers 2485 Jen Dr. Melbourne, FL 32940 321-255-6022 www.SpaceCoastBusinessBrokers.com email Paul@CorpBizBroker.com
  7. 7. HOW CAN I HELP The simplest way to create a winning business is to answer the following questions.  How can I help people? How can I enhance people’s lives? TOPIC OPTIONS List 3-5 possible businesses you would like to purchase or start. Research them and which niche group you might like serve: Putting it all into a business perspective: There will always be new trends in the market and the news. To succeed in business you need to know who you are and what your customers want. You must be flexible while remaining constant. Before my vacation I was reading a training manual for managers. The focus was on the difference between systems and rules. Rules are for avoiding dangerous situations that could cause safety issues or litigation. Systems are for providing a standard of quality in your product or service. When training involves rules, everyone needed to be ‘with it.’ When training involves systems, the wise business owner or manager recognizes that their employees and customers are unique individuals. When you buy a business, systems are usually in place. If you start one, you need to create the systems. Creating systems takes a lot of time and a lot of work. That is why franchises are so popular and do so well. They have systems in place that must be followed. They also have financial qualifications you need to meet before you open a franchise because almost all of them loose money the first year they are in business. Employees have minds of their own and must be empowered to use them to best serve your customers. Without flexibility your employees can’t respond to your customers’ needs. If you don’t listen to them you are telling them that their thoughts don’t really matter, they have no value. Just as you need to ask, listen to and respect the opinions of your customers and treat them as intelligent human beings, you also need to extend the same courtesy to your employees. When you harvest the unique ideas and talents of your staff to improve your product or the service that you provide to your customers, you will be giving your employees and customers a hug that says, I appreciate and respect your unique talents and contributions to our team. And, you will have unlocked the most For more information visit our website at: www.SpaceCoastBusinessBrokers.com ---------------------------------------------------© Copyright For Reprint permission contact: Paul Forsberg Corporate Business Brokers 2485 Jen Dr. Melbourne, FL 32940 321-255-6022 www.SpaceCoastBusinessBrokers.com email Paul@CorpBizBroker.com

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