Business

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ArcaMax

A Really Great Book and a Really Fine Wine

In my 38 years of representing entrepreneurial companies and small businesses, I have learned there are three essential business skills everyone needs to master if they are to grow a business of their own:

--Selling.

--Bookkeeping

--Negotiating.

(OK, if you're a lawyer or some other professional, add client management as a fourth.)

If you'...Read more

Miracle Diet Plans for 2018 That Really Work!

There's a lot of stuff going on in the world of small business right now: the new tax law, changes in the way web-based businesses are regulated, Amazon taking over the world.

But let's be honest. Right now, all anyone is thinking about is losing weight -- the No. 1 New Year's resolution of all time.

Just as there is no shortage of small ...Read more

Retail Arbitrage May No Longer Be Legal in Europe

More than 2 million Americans make a full-time or part-time living selling merchandise on eBay, Amazon, Etsy and other online retail platforms.

For many smaller sellers, this activity takes the form of retail arbitrage: buying merchandise at retail from brick-and-mortar stores and then reselling it online for even more money. If you have ever...Read more

Regulation Is Coming to the Internet

The single most significant historical event in my lifetime is not the assassination of President John F. Kennedy, the 1969 moon landing, the social upheavals of the 1960s or the rise and fall of rock 'n' roll. It is the advent of the internet in the early 1990s.

It is difficult for any of us baby-boom geezers to remember what the world was ...Read more

Fame Is Fleeting, So Write a Christmas Song

I try to avoid writing seasonal or holiday-themed columns, but I couldn't resist the temptation this year.

I was shopping at a local mall (yes, they still have those) for several hours the other day. The background music was piped in from a local radio station that mixes Top-40 hits with holiday classics.

No, this is not going to be about ...Read more

Dealing With Fear When Starting a Business

"I was laid off from a corporate job a couple of years ago.

"I tried finding another job, but there was nothing out there for someone older than 50.

"A few months ago, I learned about a local retail business that was for sale. With the help of a business broker, I made an offer, and the seller accepted it. We hired lawyers and prepared ...Read more

Giving Your Lenders a Piece of the Action

"We started a tech company last year and are getting ready to launch our first product. To do so, we will need to borrow $200,000 from friends and family.

We have been told to structure this as a loan, but we want to give our family members a piece of our future growth if the company is successful. What are the various ways to do that? We don...Read more

Royalty Financing: The New Thing in Venture Capital

"I have a successful retail business that I want to take online with a killer website and a social media marketing campaign on Facebook and Twitter.

"The problem, of course, is money. I need to raise $100,000 to build the website and launch the campaign, but am having trouble finding the money. My business has strong cash flows, but has never...Read more

Delegating the Right Way: Part 2 of 2

Once you have made up your mind that it's time to start delegating to other people and growing your business, and once you've decided on what to delegate, only three questions remain:

--To whom do you delegate?

--How do you delegate?

--How do you avoid losing control of your business?

When delegating, you can choose among five potential ...Read more

Delegating the Right Way: Part 1 of 2

One of the hardest things company founders, entrepreneurs and self-employed professionals can do is get out of their own way and allow their businesses to grow without them.

And there is one -- and only one -- way to do that: delegating to others.

No individual can build a billion-dollar business by himself. Doing that requires building ...Read more

The Correct Way to Structure a Holdback

"I am in the process of buying a small business.

"There are some issues with this business, and I asked the seller if we could hold back ten percent (10 percent) of the purchase price for a year to see how things went.

"The seller said he was agreeable, but in reviewing the draft agreement his lawyer put together, it says the seller gets the...Read more

Report From EComChicago 2017

I just got back from speaking at this year's eComChicago conference for online retailers in Elk Grove Village, Illinois.

A little history: About eight years ago, when eBay started cutting back on its popular outreach programs for eBay sellers, sellers started forming their own support groups called "meetups" (for a complete list of all eBay ...Read more

 

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