Q&A
PEOs and Selling a Small Business
I run a small service business and I am considering using a PEO. There is a three year commitment to administrate my employees and the fee they charge is 4% of my gross payroll. I am also considering selling my business. Any advice? •••
- November 25, 2008
Ramping up a Food Processing Business
I recently started a food processing business as an educational endeavor after completing 12 years of home education; I have been in business for about a year, but am concerned because I have not yet written out a detailed business plan. I have no accounting experience at all and am not sure •••
- October 28, 2008
Raising Money for a Services Business
I am planning on launching a home services business and need to raise $50,000 to fund the business. The uses for the money include a professionally-designed logo, marketing materials, a killer website and a new truck with the company's name and logo painted on it to present an overall •••
- October 28, 2008
How to Get Started with an Idea
I am a father of a homeschooling family with 8 children and I am currently unemployed, but I have been wanting to go into business for myself with the intentions of including my family. I have a couple of ideas for a business and was wondering what are the steps were to getting •••
- October 28, 2008
Growing My Business While Working with My Family
I run a business with several employees and I want to keep growing the business and the value of my business so I have more to hand off to my children, but I now understand and agree with the vision to involve my family more and spend more time shepherding my family. What changes would you •••
- September 5, 2008
Asset Allocation
I've heard you speak about asset allocation in terms of balancing one's portfolio, but I wasn't able to follow all of the details. Could you please go over an example asset allocation? •••
- September 1, 2008
Planning the Launch of an Online Collaboration Software Company
We are considering a software venture that would create an online collaborative content creation and editing tool. There are two main pieces - the content creation/editing tool, and the collaboration tool, which would enable more seamless work by numerous parties on this content, and which •••
- August 23, 2008
Joint Venture with an Unbeliever
I was approached by a client and asked to develop a software tool to help meet the needs of a particular customer set for their service business. I saw the possibility for something much bigger than their intended use for the tool and asked them if they would be willing to explore the •••
- August 23, 2008
Determining the Proper Level of Compensation
I am going to be hiring an employee for my small family business and needed some advice on how to determine how much I can afford to pay. Please let me know what you think. •••
- August 8, 2008
Compensation Plan for a Sales Executive
I am the founder/CEO of an early-stage high-tech startup and I am in the beginning stages of trying to raise $2.5 million in an initial round of venture capital to ramp up operations. I am trying to attract a high level sales/business development executive to sell for the company on a •••
- August 2, 2008
Planning a Business with Non-Christian Classmates
I am a full-time college student in the process of planning and starting up a company with two college classmates of mine that are not believers. Any advice on whether or not that is a good idea? •••
- July 28, 2008
Raising $5 Million for Online Community
One of my Board members referred me to your site because we are currently raising funds. We are a little out of the direct investment league for NVL as far as I can tell. To date, we have raised almost $3MM of friends and family and we are seeking $5MM more to monetize the community we •••
- July 25, 2008
Attempting to Buy a Janitorial Services Company
I am considering buying a janitorial business, but I have never been a business owner. I have been in the ministry for 20 years, but desire to build a family based business for my children for their future and families. Our desire is to be able to have a multi-generational business and ministry to •••
- July 25, 2008
Evaluating the Purchase of an E-Commerce Site
I am considering buying an e-commerce site and have several questions prior to moving forward with the deal. The site has been built, supplier relationships have been established, but the site has not really had a lot of meaningful business yet. The owner is willing to consult with me after •••
- July 25, 2008
Leveraging Your Relationships Into a Finder's Fee
For the last few months, I’ve been working with a patent holder to commercialize his product on a local basis. I also happen to own a company in the same industry and plan on distributing the product to my customers. Recently, he asked me to introduce the product to a national •••
- July 25, 2008
Absentee Business Owner and Structuring a Deal with Management
In November, I will become an absentee business owner. A long-term and very capable employee will become general manager and take my place in the day-to-day management of the business. Any recommendations on an incentive plan that will help keep my new GM focused on the right things to •••
- July 7, 2008
Civil Engineer Seeks to Reposition His Company
I heard your talk at the CHEC conference recently. Thanks for your personal choices coupled with God's Grace! My business can most definitely use the help New Venture Lab provides. I own a Civil Engineering business (3.5 years old) and Land Survey Business (just starting). I •••
- July 2, 2008
Using an Earnout Structure When Buying a Business
Do you have anymore information on the structure of an "earnout" buyout? •••
- July 1, 2008
Structuring the Management Buyout of a Small Business
I've been managing a business on behalf of an absentee owner for the past few years and he has offered to sell it to me. The business involves assembling and shipping a product to customers that submit their orders via the phone or internet. The revenue in the past 12 months has been •••
- July 1, 2008
Family Physician Seeks to Reorder Life
We were in Denver for the CHEC conference recently and enjoyed your talks at the "mini-bootcamp". I've had 19 years of experience as a family physician, with the last 11 in private practice. At this point in my life, I'm interested in doing something different and would love to work from home •••
- June 30, 2008
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